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Health Care Sector Update for 09/03/2019: CDTX, ENDP, MRK, ARDS, JNJ, PFE, ABT, MRK, AMGN

Top Health Care Stocks:

JNJ: -0.49%

PFE: -0.28%

ABT: Flat

MRK: -0.75%

AMGN: -1.60%

Health care majors were retreating pre-market Tuesday.

Early movers include:

(+) Cidara Therapeutics (CDTX), which was surging by over 64% after the company said it has entered into a strategic tie-up worth up to $568 million with Mundipharma to develop and commercialize rezafungin to treat and prevent invasive fungal infections.

(+) Endo International (ENDP) was up more than 3% as its Par Pharmaceutical unit launched sales of an authorized generic version of Merck's (MRK) Noxafil delayed-release tablets, a treatment for fungal infections. Merck was slightly lower in recent trading.

(-) Aridis Pharmaceuticals (ARDS) was declining by more than 27% after saying it will no longer continue its development program for the drug AR-105 as a treatment for ventilator-associated pneumonia caused by pseudomonas aeruginosa after a phase 2 study failed to meet its primary endpoint.

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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