Markets

Health Care Sector Update for 05/19/2017: AZN,GLYC,CLBS

Top Health Care Stocks

JNJ +0.01%

PFE +0.66%

ABT +0.44%

MRK -0.19%

AMGN -0.92%

Health care stocks were higher but trailing most other sectors, with the NYSE Health Care Index rising nearly 0.2% while shares of health care companies in the S&P 500 were up 0.3% as a group.

In company news, AstraZeneca ( AZN ) was underwater again during late Friday trading, slipping about 0.3%, after the specialty drugmaker said Leo Pharma, its partner developing the company's brodalumab product candidate to treat moderate-to-severe plaque psoriasis in adults, received a positive opinion for the biologics antibody from European regulators.

The positive opinion by the Committee for Medicinal Products for Human Use of the European Medicines Agency now moves to review by the European Commission, which is the authority regulating medicines within the European Union. The agency's counter-parts in the United States and Japan previously approved brodalumab, which marketed under the Siliq brand name, in February 2017 and February 2016, respectively.

In other sector news,

(+) GLYC, Positive comments overnight from SunTrust follow the company earlier yesterday reporting Phase II data for GMI-1271 drug candidate showinf higher-than-expected remission rates and lower-than-expected induction-related mortality rates in acute myeloid leukemia patients.

(-) CLBS, Closes sale of its remaining 80.1% equity stake in PCT to Hitachi Chemical for $75 mln. Hitachi also could pay additional $5 mln if PCT reaches $125 mln in revenue during 2018.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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