Markets

Health Care Sector Update for 10/05/2015: RPTP, RXII

Top Health-care stocks:

JNJ: +0.6%

PFE: +1.1%

ABT: flat

MRK: +1.2%

AMGN: +0.7%

Health-care shares were generally higher in pre-market trade Monday.

In health-care stocks news, Raptor Pharmaceutical ( RPTP ), a biopharmaceutical company specializing in rare and debilitating diseases, said Monday that it has completed its acquisition of Quinsair antibiotic from Tripex Pharmaceuticals.

Raptor paid approximately $34.2 million in cash, subject to certain adjustments, and issued to Tripex 3.5 million shares of Raptor common stock, plus up to $350 million of potential milestone payments.

Shares in the company were 0.3% lower at $5.81 pre-bell. Over the past 52 weeks, the company has traded between $5.45 and $16.28.

RXi Pharmaceuticals ( RXII ) said it has been granted a Notice of Allowance from the United States Patent and Trademark Office for both the composition and methods of use of RXi's self-delivering platform technology. The patent is scheduled to expire in 2029.

Shares in the company advanced 2.4% to $0.42 pre-bell. Over the past 52 weeks, the company has traded between $0.34 and $2.30.

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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