Top Health Care Stocks
Health care stocks were slightly lower today, with the NYSE Health Care Index sliding about 0.1% lower while shares of health care companies in the S&P 500 also were down less than 0.2% as a group.
In company news, declines for shares of Cumberland Pharmaceuticals ( CPIX ) were picking up speed Tuesday afternoon, with the generics drugmaker receiving little apparent traction from its announcement last night that its Caldolor medication has been approved by Australian regulators for reducing pain and fever in adults.
The injectable ibuprofen formulation was designed primarily for patients in a hospital setting who cannot tolerate oral medications. It will be distributed in Australia by the CSL Group subsidiary Seqirus under license from Cumberland.
The decision by the Therapeutic Goods Administration in Australia follows the U.S. Food and Drug Administration yesterday clearing Calolor for use in pediatric patients six months of age and older. The FDA previously approved the drug for use in adults in 2009.
CPIX shares were down almost 4% at $5.62 each this afternoon, matching their session low.
In other sector news,
(+) AEZS, (+9.3%) Issues 365,518 shares following exercise of remaining Series B warrants. H.C. Wainwright reiterates Buy rating and increases price target from 11 cents to $11 a share, reflecting AEZS's Nov. 18 100-for-1 reverse stock split.
(-) ADRO, (-14.5%) ROTH Capital pares price target for the company's stock by $6 to $68 a share, reiterating its buy rating.
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