Markets

Health Care Sector Update for 12/21/2018: PRGO, PTI, RCKT, JNJ, PFE, ABT, MRK, AMGN

Top Health Care Stocks:

JNJ: +0.55%

PFE: Flat

ABT: +0.19%

MRK: +0.86%

AMGN: +0.52%

Pre-bell Friday saw mostly higher health care stocks.

Early movers include:

(-) Perrigo Company ( PRGO ), which was down more than 12% after it said it will file an appeal with the Irish Tax Appeals Commission after the Irish Revenue Commissioners sought a EUR1.64 billion ($1.9 billion) tax payment from the company resulting from the sale of a stake in multiple sclerosis drug Tysabri intellectual property and related assets to Biogen ( BIIB ) in 2013.

(-) Proteostasis Therapeutics Inc ( PTI ) was sinking by more than 24% after the biotechnology company said that it now expects to report complete efficacy and safety data on cystic fibrosis in the first quarter of 2019.

In other sector news:

(=) Rocket Pharmaceuticals ( RCKT ), a gene therapy company, has been selected for addition to the Nasdaq Biotechnology Index, effective prior to market open on Dec. 24.

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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