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Health Care Sector Update for 12/27/2016: SGEN,CAPN,ENGX

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Top Health Care Stocks

JNJ -0.02%

PFE +0.46%

MRK +0.62%

ABT +0.81%

AMGN +1.10%

Health care stocks were moderately higher, with the NYSE Health Care Index climbing about 0.2% while shares of health care companies in the S&P 500 were up just more than 0.4% as a group.

In company news, Seattle Genetics ( SGEN ) declined Tuesday after federal regulators suspended early-stage testing of the biotech company's SGN-CD33A product candidate after four patients with acute myeloid leukemia died of apparent drug-induced liver damage.

The U.S. Food and Drug Administration began the holds after six patients who were treated with SGN-CD33A and received allogeneic stem cell transplants developed hepatotoxic symptoms, including several cases of veno-occlusive disease. The agency placed a full hold on Phase I/II testing of SGN-CD33A as a monotherapy and was limiting treatment in two other Phase I trials either alone or combined with other therapies to existing patients with no new enrollments.

SGEN shares were down 16% at $51.94 apiece, previously sinking to a session low of $51.64 a share.

In other sector news,

(+) CAPN, (+6.3%) Acquires privately held Essentialis for undisclosed amount, creating a company focused on advancing diazoxide choline controlled release tablet for Prader-Willi syndrome and other rare-disease therapeutics. Deal still requires CAPN shareholder approval.

(-) ELGX, (-19.6%) Announces voluntary hold on shipments of its AFX Endovascular AAA System pending completion of an investigation into a manufacturing issue with some sizes of the abdominal aortic aneurysm repair device.

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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