US Markets

Health Care Sector Update for 06/17/2019: ARRY, VBIV, QURE, JNJ, PFE, ABT, MRK, AMGN

Top Health Care Stocks:

JNJ: +0.23%

PFE: -0.23%

ABT: Flat

MRK: +0.27%

AMGN: Flat

Health care giants were mixed pre-bell Monday.

Stocks moving on news include:

(+) Array BioPharma (ARRY), which was surging by more than 59% as Pfizer (PFE) agreed to acquire the company for $48 a share, a premium to Friday's closing price of $29.42. The cash offer represents a total enterprise value of about $11.4 billion.

(-) VBI Vaccines (VBIV) was plunging by over 53% after it reported that a trial of its hepatitis B vaccine candidate Sci-B-Vac met both of its co-primary endpoints. However, the trial failed to meet the secondary endpoint of non-inferiority of two doses of Sci-B-Vac compared with three doses of Engerix-B in subject 18-year-old and older.

(+) Biotech firm UniQure (QURE) is working with advisers as it considers strategic options, including a potential sale or even partnerships, Bloomberg News reported, citing sources. UniQure was gaining more than 8% in pre-market after the news.

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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