Top Health Care Stocks
Health care stocks were falling, including a nearly 1.1% decline for the NYSE Health Care Index this afternoon. Shares of health care companies in the S&P 500 also were down almost 1.1% as a group while the Nasdaq Biotechnology index was slipping about 0.1%.
Among health care stocks moving on news:
(+) Boston Scientific (BSX) dropped more than 4% after the US Food and Drug Administration ordered the medical device giant and Danish partner Coloplast to immediately halt sales of their transvaginal surgical mesh products. The companies are the only firms still selling mesh products used to repair weakened or damaged muscle tissue that keeps organs from dropping or pressing into the vagina and the agency said "that evidence was lacking in their premarket applications and we couldn't assure women that these devices were safe and effective long term."
In other sector news:
(+) Johnson & Johnson (JNJ) was up more than 1% after the health care conglomerate raised its FY19 outlook after Tuesday reporting adjusted Q1 net income of $2.10 per share on $20.02 billion in net sales, topping the Capital IQ consensus by $0.06 per share and $470 million, respectively.
(-) Ultragenyx Pharmaceutical (RARE) declined over 5% on Tuesday. The FDA selected the company's UX007 drug candidate for fast track consideration in addition to granting a pediatric disease designation for the experimental treatment for a group of genetic disorders characterized by the body being unable to convert long-chain fatty acids into energy. Ultragenyx is expecting to file a new drug application for UX007 with the agency around mid-year.
(-) Humana (HUM) retreated Tuesday, sinking 7%. The managed care organization earlier said it was engaging physician groups across the country to launch a value-based oncology care program it expects to provide more integrated cancer care for Humana Medicare Advantage and commercial health care insurance members.
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