Health Care Sector Update for 05/13/2024: ACIU, TAK, NVO, CCLD, FTRE

Health care stocks were mixed in late Monday afternoon trading with the NYSE Health Care Index up 0.1% and the Health Care Select Sector SPDR Fund (XLV) decreasing 0.2%.

The iShares Biotechnology ETF (IBB) added 0.8%.

In corporate news, AC Immune (ACIU) and Takeda Pharmaceutical (TAK) signed an exclusive worldwide option and license agreement for AC Immune's immunotherapies, including the Alzheimer's disease treatment candidate. AC Immune shares soared 41%, and Takeda shed 1%.

Novo Nordisk (NVO) has been asked by Senator Bernie Sanders to reduce the prices of its Ozempic and Wegovy drugs in the US, multiple media outlets reported, citing a column published by Sanders in Danish newspaper Politiken. Separately, Novo Nordisk said its Mim8 antibody was found to benefit patients with hemophilia A. Novo Nordisk shares rose 3.2%.

CareCloud (CCLD) released details of an "unsolicited, non-binding indication of interest" on March 4 to buy the company for $5 a share. The stock surged 86%.

Fortrea (FTRE) lowered its full-year revenue outlook as the clinical development and patient access solution provider's Q1 financial results missed market expectations. The stock tumbled 15%.

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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