Top Health Care Stocks
Health care stocks were mixed in afternoon trade, with the NYSE Health Care Index declining less than 0.1% while shares of health care companies in the S&P 500 were up about 0.3% as a group.
In company news, Biogen Inc. ( BIIB ) rose Thursday after the biotech conglomerate beat analyst estimates with its Q1 earnings as revenue rose compared with year-ago levels, supported by a 15% year-over-year increase in sales of its drug treatment for relapsing multiple sclerosis.
Excluding one-time items, the company earned $4.79 per share, topping the Street view by $0.32 per share. Sales climbed 6.7% to $2.73 billion, roughly in-line with the $2.75 billion consensus. In addition to $946 million in sales for its Tecfidera MS medication, revenue growth also was driven by Biogen's Eloctate hemophilia A medication and its Alprolix hemophilia B drug, partially offset by a drop in global interferon sales, the company said.
BIIB shares were up almost 5% at $278.74 each, earlier topping out at $279.36 a share.
In other sector news,
(+) CBAY, (+7.1%) Abingworth Funds discloses 6.8% passive stake, buying 1.6 mln shares, according to SEC 13G filing last night.
(-) TRXC, (-56.8%) FDA determines that the company's SurgiBot System does not meet the criteria for substantial equivalence.
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