Markets

Health Care Sector Update for 10/15/2018: CGC, TNDM,SNGX

Top Health Care Stocks

JNJ +0.45%

PFE -0.57%

ABT -0.53%

MRK +0.13%

AMGN +0.37%

Health care stocks were narrowly mixed this afternoon, including a 0.36% gain for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 were down less than 0.1% as a group while the Nasdaq Biotechnology index was slipping over 0.6%.

Among health care stocks moving on news:

(+) Canopy Growth ( CGC ) was 10% higher Monday after the medical and recreational cannibis supplier said it was acquiring the intellectual property portfolio of hemp researcher ebbu Inc. in exchange for CAD25 million ($19.2 million) in cash and 6.2 million shares of stock.

In other sector news:

(+) Tandem Diabetes Care ( TNDM ) was al2% higher on Monday, easing from a nearly 8% gain earlier in the session after it said Heath Canada issued a medical device license for the company's t:slim X2 insulin pump.

(-) Soligenix ( SNGX ) tumbled as much as 29% on Monday. The biopharmaceuticals company said the independent Data Monitoring Committee recommended that it add another 40 subjects to Phase III testing of its SGX301 candidate for treating patients with cutaneous T-cell lymphoma.

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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