Markets

Sector Update: Healthcare Shares Higher; Pharmacyclics To Get $75 Mln Milestone Payment

Top Healthcare Stocks:

JNJ: +0.29%

PFE: +0.18%

ABT: +0.44%

MRK: +0.11%

AMGN: +0.21%

Healthcare shares are higher in pre-market trade. Regeneron Pharmaceuticals ( REGN ) shares are up 1.2% at $246.00 as it says that its EYLEA Injection has been approved by the European Commission for the treatment of visual impairment due to Macular Edema Secondary to Central Retinal Vein Occlusion.

EYLEA has been approved in the U.S. for the treatment of neovascular Age-related Macular Degeneration in November 2011 and for Macular Edema following CRVO in September 2012. EYLEA has also been approved in Europe, Japan, Australia, and in several other countries for use in wet AMD and in selected countries in South America for Macular Edema following CRVO.

And, Pharmacyclics ( PCYC ) will receive a $75 million milestone payment under a collaboration agreement with Janssen Biotech after the U.S. Food and Drug Administration accepted its New Drug Application for Ibrutinib, a candidate to treat two B-cell malignancies.

The drug targets previously treated mantle cell lymphoma and previously treated chronic lymphocytic leukemia/small lymphocytic lymphoma. Pharmacyclics submitted its NDA on June 28, 2013. The shares are flat pre-market in a 52-week range of $44.91 - $119.77.

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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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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