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Health Care Sector Update for 06/07/2017: JNJ, PFE, ABT, MRK, AMGN, KMDA, JAZZ, EXAS

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Top Health Care stocks:

JNJ: +0.1%

PFE: -0.5%

ABT: +0.5%

MRK: -0.9%

AMGN: +1.2%

Health care shares were mixed ahead of the close of Wednesday's session.

In health care stocks news, Kamada ( KMDA ) was down 6.1% following the transfer of full ownership and responsibility for the clinical development of Alpha-1 Antitrypsin (G1-AAT IV) for the treatment of acute Graft-Versus-Host Disease (GvHD) from Shire ( SHPG ). An investigational new drug (IND) application approved by the U.S. Food and Drug Administration for the phase 2/3 study evaluating the drug will be transferred from Shire to Kamada, the company said in a press release. Shire has been leading the G1-AAT IV GvHD program in the U.S., while Kamada was leading the program in the EU. Shire decided to transfer the IND to Kamada due to pipeline prioritization and slow recruitment rate in its current U.S. study. Kamada will assume control of, and onward funding for the full G1-AAT IV program, and intends to conduct an integrated clinical development program across both territories--the U.S. and the EU. As the result of this decision, the current part 1 of the phase 2/3 study conducted in the U.S. is being halted by Shire. SHPG shares were down 2.1%.

In other sector news,

(+) JAZZ, (+4.8%) Says JZP-110 could be an important treatment option for patients suffering from excessive sleepiness as a result of narcolepsy

(-) EXAS, (-5%) Prices an offering of 7.0 million common shares at $35 each, equal to a 4.3% discount relative to Tuesday's closing price

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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