Health Care Sector Update for 04/02/2020: APLT,NEPT,NEPT.TO,BMRA,PRGO

Top Health Care Stocks

JNJ +2.21%

PFE +2.44%

ABT +2.77%

MRK +3.46%

AMGN +4.58%

Health care stocks continued to add to their mid-day gains, with the NYSE Health Care Index Thursday rising 1.5% while the SPDR Health Care Select Sector ETF also was up 1.5%. The Nasdaq Biotechnology index was climbing 2.4% this afternoon.

Among health care stocks moving on news:

(+) Applied Therapeutics (APLT) was nearly 6% higher this afternoon, drifting off an 18% gain earlier Thursday that followed the company saying critically ill COVID-19 patients in New York showed improved cardiovascular function after being treated with its AT-001 drug candidate. Investigator-initiated trials of AT-001 are now underway at several New York-area hospitals in patients with acute lung inflammation and cardiomyopathy under an emergency protocol included as part of an investigational new drug application for the Aldose Reductase inhibitor, the company said.

In other sector news:

(+) Neptune Wellness (NEPT) rose almost 17% after the health and wellness products company received Health Canada authorization to commercialize plant-based hand sanitizer products and also saying it was working with regulators to fast-track registration of its hand sanitizer in the United States. Neptune also is partnering with the National Research Council of Canada to develop additional products to treat and prevent COVID-19 infections.

(+) Biomerica (BMRA) climbed 3% after the diagnostics company announced a pair of license agreements to commercialize a laboratory serological test for COVID-19 virus infection developed at with the Mount Sinai Icahn School of Medicine in Manhattan. Biomerica said it has the equipment and capacity to produce over 1 million of the tests each month at its manufacturing facility in Irvine, Calif, and was expecting to begin commercial sales within a few weeks.

(-) Perrigo Company (PRGO) tumbled 5% after the over-the-counter pharmaceuticals company Thursday said it has completed its acquisition of High Ridge Brands, which produces oral self-care products sold under the Reach, Dr. Fresh and Firefly brand lines. Financial terms of the transaction were not disclosed.

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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