Health Care Sector Update for 09/11/2017: TEVA,MRNS,PLSE

Top Health Care Stocks

JNJ +1.63%

PFE +0.65%

ABT +0.79%

MRK +1.38%

AMGN +3.12%

Health care stocks were trending higher, with the NYSE Health Care Index gaining more than 0.8% while shares of health care companies in the S&P 500 were up over 0.7% as a group.

In company news, American depository shares of Teva Pharmaceutical Industries ( TEVA ) rallied Monday, rising over 24% to a session high today of $19.24 apiece after the generics drugmaker today named Kare Schultz as its new CEO.

Separately, the company today also presented positive efficacy data from Phase III testing of fremanezumab in patients with chronic and episodic migraines indicating the new drug significantly reduces the number and severity of monthly headaches.

Also helping lift Teva ADS in late U.S. trading was an upgrade of the company’s stock by BTIG Research to Buy from Neutral, also setting a $24 price target.

In other sector news,

(+) MRNS, Said top-line data from Phase II study in patients with CDKL5 disorder support advancing its ganaxolone drug candidate to a late-stage trial.

(-) PLSE, Withdraws FDA application seeking 501(k) clearance of its PulseTx nano-pulse stimulation device to treat cancer after saying it would not be able to meet an agency request for more data within a 90-day review period that ended yesterday.

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