Markets

Health Care Sector Update for 10/02/2015: CGIX,XNPT,FOLD

Top Health Care Stocks

JNJ +0.82%

PZE +3.89%

MRK +1.52%

ABT +1.56%

AMGN +1.60%

Health care stocks closed higher this afternoon, with the NYSE Health Care Index climbing around 1.7% while shares of health care companies in the S&P 500 advanced 1.8% as a group.

In company news, Cancer Genetics ( CGIX ) rose Friday after the biotech company late Thursday received Bankruptcy Court approval to purchase Response Genetics in a deal expected to add between $10 million to $12 million in revenue each year.

Cancer Genetics will pay $14 million for Response Genetics, consisting of $7 million in cash and 788,584 shares of its common stock.

CGIX shares finished 0.4% higher at $7.88 each.

In other sector news,

(+) XNPT, Decides to focus on new drug treatment for restless leg syndrome while dropping work on a prospective treatment for psoriasis after it showed high rates of side effects. CEO Ronald Barrett steps down.

(-) FOLD, Said it does not expect to sumbit a new drug application for its Migalastat monotherapy for Fabry disease before the end of the year after the FDA asks for additional data.

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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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