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Health Care Sector Update for 12/27/2018: HSIC,AXSM,BSX

Top Health Care Stocks

JNJ -2.50%

PFE -1.80%

ABT -1.97%

MRK -1.24%

AMGN -1.68%

Health care stocks were retreating, including a more than 1.6% drop for the NYSE Health Care Index in recent trading. Shares of health care companies in the S&P 500 also were down almost 1.6% as a group while the Nasdaq Biotechnology index was slipping about 2.6%.

Among health care stocks moving on news:

(-) Henry Schein Inc. ( HSIC ) was down 1.9% Thursday afternoon after filing regulatory documents for the planned spinoff of its animal health business into a stand-alone business and its subsequent merger with Vets First Choice.

In other sector news:

(+) Axsome Therapeutics ( AXSM ) was marginally lower. The company said Thursday it has randomized 90% of the target number of patients with treatment-resistant depression for double-blind phase III testing of its AXS-05 drug candidate. Top-line results from the late-stage trial are due during the first three months of 2019.

(-) Boston Scientific ( BSX ) was down almost 2% after the medical device conglomerate exercised its option to acquire the remaining shares of privately held Millipede Inc for $325 million at closing following the successful completion of a first-in-human clinical study of Millipede's IRIS transcatheter annuloplasty ring system for the treatment of severe mitral regurgitation in patients who cannot tolerate open-heart surgery. Boston Scientific paid $90 million for an undisclosed stake in Millipede last January.

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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