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Health Care Sector Update for 12/27/2016: SGEN, IONS, JNJ, PFE, ABT, MRK, AMGN

Top Health-care stocks:

JNJ: +0.6%

PFE: +0.5%

ABT: +0.5%

MRK: +0.3%

AMGN: +1%

Health care shares were higher as Tuesday's regular session commenced

In health care stocks news, Ionis Pharmaceuticals ( IONS ) was up nearly 11% after the company said late Friday that the U.S. Food and Drug Administration has approved Spinraza for the treatment of spinal muscular atrophy in pediatric and adult patients. Spinraza was developed through a collaboration with Biogen ( BIIB ), who also holds the license for future development, manufacturing and commercialization of the drug. The company plans to make the drug available for shipment in the U.S. in approximately one week.

And, Seattle Genetics ( SGEN ) shares fell some 13%, coming off a trading halt in the pre-bell session, after the company said the U.S. Food and Drug Administration (FDA) has placed a clinical hold or partial clinical hold on several early stage trials of vadastuximab talirine (SGN-CD33A) in acute myeloid leukemia (AML). The hold was placed to evaluate the potential risk of hepatotoxicity in patients who were treated with SGN-CD33A and received allogeneic stem cell transplant either before or after treatment. Six patients have been identified with hepatotoxicity, including several cases of veno-occlusive disease, with four fatal events, the company said.

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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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