Health Care Sector Update for 12/08/2023: BLUE, VRTX, PFE, ARVN

Health care stocks were steady Friday afternoon, with both the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) little changed.

The iShares Biotechnology ETF (IBB) fell 0.6%.

In corporate news, Bluebird Bio (BLUE) and Vertex Pharmaceuticals (VRTX) have received US Food and Drug Administration approval for their respective Lyfgenia and Casgevy treatments for sickle cell disease. Bluebird shares slumped more than 41% and Vertex was down 0.9%.

Pfizer (PFE) said Friday that the European Commission has granted conditional marketing authorization for Elrexfio, a targeted immunotherapy to treat relapsed and refractory multiple myeloma in adults. Its shares rose 0.4%.

Arvinas (ARVN) jumped more than 10% after the company filed for a resale of up to 16.4 million shares by some shareholders.

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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