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Health Care Sector Update for 08/20/2019: IBIO,TEVA,MRUS,UTHR,MYL

Top Health Care Stocks

JNJ -0.82%

PFE -0.71%

ABT -0.07%

MRK +0.25%

AMGN -0.93%

Health care stocks were narrowly lower, including a fractional decline for the NYSE Health Care Index while the shares of health care companies in the S&P 500 also were down slightly more than 0.1% as a group. The Nasdaq Biotechnology index was falling almost 0.9%.

Among health care stocks moving on news:

(+) iBio (IBIO) doubled in price at one point on Tuesday, reaching a 14-month high of $1.40 a share after announcing a collaboration agreement with United Therapeutics' (UTHR) Lung Biotechnology PBC subsidiary to produce recombinant human collagen-based bioink for 3D bioprinted organ transplants using iBio's FastPharming system.

In other sector news:

(+) Teva Pharmaceutical Industries (TEVA) was 4% higher after beginning sales of a US Food and Drug Administration-approved generic version of Mylan's (MYL) EpiPen Jr epinephrine injection auto-injector to treat life-threatening allergic reactions. The new product will be available at most retail pharmacies with a wholesale cost of $300 for a 2-pack.

(-) Merus (MRUS) dropped 4.9% on Tuesday after the Dutch immuno-oncology company reported a Q2 net loss of $0.57 per share and missing the Capital IQ consensus expecting a $0.49 per share loss for the three months ended June 30. Revenue fell 14.7% from year-ago levels, also lagging the $8.3 million Street view.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

IBIO TEVA MRUS UTHR MYL

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