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Health Care Sector Update for 08/28/2019: PAHC, LCI, SNGX, JNJ, PFE, ABT, MRK, AMGN

Top Health Care Stocks:

JNJ: -0.49%

PFE: -0.03%

ABT: Flat

MRK: Flat

AMGN: -0.1%

Health care giants flat to lower pre-bell Wednesday.

Moving stocks include:

(-) Phibro Animal Health (PAHC), which was plunging more than 24% after its adjusted EPS fell 28% to $0.33 in Q4 from a year earlier, missing analysts' estimates of $0.36 in a Capital IQ survey. Revenue dropped 4% to $204 million from a year ago, on the effects of African Swine Fever, and lagging the $206 million estimate.

(+) Lannett (LCI) was surging by more than 39% after it unveiled an exclusive distribution agreement with China's Sinotherapeutics for the anti-fungal drug posaconazole. The company also said its adjusted EPS dropped to $0.37 in Q4 from $0.64 a year earlier, but still easily surpassed analysts' estimates of $0.21 in a Capital IQ poll.

(+) Soligenix (SNGX) was advancing more than 6% after the company said it has obtained a positive recommendation from the independent Data Monitoring Committee (DMC) on its phase 3 trial for SGX942 (dusquetide) in the treatment of oral mucositis in patients with head and neck cancer (HNC).

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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