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Health Care Sector Update for 10/03/2016: MYL,WFC,RMR,FVE,MACK

Top Health Care Stocks

JNJ +0.58%

PFE -0.61%

MRK +0.57%

ABT +0.18%

AMGN +0.23%

Health care stocks pared some of their prior declines, with the NYSE Health Care Index falling more than 0.2%, halving its prior slide, while shares of health care companies in the S&P 500 also were down about 0.2% as a group.

In company news, Mylan N.V ( MYL ) was little changed shortly before today's closing bell, reversing an earlier decline that drove the stock to its lowest mark since September 2013 following a Reuters report Democratic presidential candidate Hillary Clinton today would unveil a plan to make it easier for consumers to take legal action against "bad corporate actors."

Along with Wells Fargo ( WFC ), Clinton today sharply criticized Mylan for sharply raising the price for its EpiPens treatment for severe allergy reactions, but did describe a formal plan during a campaign stop today in Ohio.

MYL shares were up about 0.1% at $38.15 each, recovering from a prior drop to a new three-year low of $37.41 a share.

In other sector news,

(+) FVE, ABP Acquisition, the controlling shareholder group at the RMR Group ( RMR ), offers to acquire FVE through a tender offer for 10 shares at $3 apiece, a 57% premium over Friday's closing price.

(-) MACK, Launches restructuring effort - which includes layoffs for 22% of its workforce - that aims to reduce spending by around $200 mln over the next years. CEO Robert Mulroy steps down and is replaced by board chairman Gary Crocker.

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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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