The healthcare
sector is gaining with the braoder market on Wednesday thanks to strong gains
from biotech sector where VIVUS Inc (NASDAQ:VVUS) made multi-year high after
getting approval from the FDA for its Qsymia drug. Health Care SPDR
(ETF)(NYSEARCA:XLV) is up 0.34% to $38.82.
VIVUS Inc
(NASDAQ:VVUS) jumped up 14.70% to $30.35 on a thickly traded volume of 19.77
million shares. The U.S. Food and Drug Administration have finally approved
Vivus Inc's Qsymia as an addition to diet and exercise for chronic weight
management. Qsymia has been approved for use in adults who are obese or
overweight with at least one weight-related condition such as high blood
pressure, type 2 diabetes or high cholesterol.
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Galena
Biopharma Inc (NASDAQ:GALE) among the gainers in NASDAQ and the stock increased
19.88% to $2.05. The Company announced the issuance of a key patent, originally
allowed in March 2012 from the U.S. Patent and Trademark Office covering the
use of NeuVax. NeuVax is a vaccine for inducing immunity to breast cancer
recurrence in patients having low-to-intermediate IHC levels of 1+ or 2+ and a
FISH rating of less than 2.0.
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Investors Buy GALE After Today’s Rally, Find Out
AMAG
Pharmaceuticals Inc (NASDAQ:AMAG) soared 1.58% to $16.10. The Company said that
its drug Feraheme has yielded positive results in its second Phase III study.
Feraheme is a treatment for iron-deficiency anemia in adults with chronic
kidney disease. The study compared Feraheme with a placebo and enrolled 808 patients
at 136 sites in the U.S., Canada, India, Latvia, Hungary and Poland. The
patients enrolled in the study had a history of unsatisfactory response to, or
otherwise could not tolerate oral iron therapy. It was found that patients
treated with Feraheme recorded an increase in hemoglobin.
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Trade AMAG amid current market condition, Get Free Trend Analysis
St. Jude
Medical Inc (NYSE:STJ) plunged 5.56% to $37.06. The Company posted second
quarter profit of $244 million or 78 cents per share compared to $241 million
or 72 cents per share in the prior year period.
Revenue decreased 2% to $1.41 billion. However, analysts recently
projected revenue of $1.43 billion. Gross margin increased to 72.8% from 72.7%.
Overhead costs and research and development expenses were down 3.9% and 1.7%
respectively. The Company estimates that it will pay about $60 million as a
result of the medical device tax in 2013.
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Is Suggesting for STJ, Get Trend
Analysis
Abbott
Laboratories (NYSE:ABT) went down 0.27% to $66.28 after the Company reported
second quarter results. Profit declined 11.2% to $1.73 billion and earnings per
share decreased 12.2% to $1.08. Net sales increased 2.0% to $9.81 billion.
However, street analysts were expecting Abbott to deliver earnings of $1.22 per
share and revenues of $9.84 billion.
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