Markets

Health Care Sector Update for 12/21/2018: JAZZ,RCKT,PRGO

Top Health Care Stocks

JNJ, +0.10%

PFE, +0.75%

ABT, -0.57%

MRK, +0.30%

AMGN, -1.10%

Health care stocks were mostly lower, including a 0.4% decline for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were down 0.4% as a group, while the Nasdaq Biotechnology index was slipping 2.9%.

Among health care stocks moving on news:

(-) Jazz Pharmaceuticals ( JAZZ ) dropped to a nearly two-year low on Friday, sinking almost 10% to its lowest share price since January 2017 at $118.16 a share after the US Food and Drug Administration extended the review period for the company's solriamfetol drug candidate by an extra three months so it can better examine proposed labeling for the experimental nacrolepsy treatment.

In other sector news:

(-) Rocket Pharmaceuticals ( RCKT ) was slightly more than 3% lower in Friday trading. The gene therapy company was selected to join the Nasdaq Biotechnology Index, effective with the start of trading on Dec. 24.

(-) Perrigo Company ( PRGO ) shares fell 27% after Irish regulators levied a EUR1.64 billion ($1.9 billion) tax liability on the pharmaceuticals company following its sale of the intellectual property and related assets underlying its Tysabri multiple sclerosis drug to Biogen ( BIIB ) in 2013.

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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