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Sector Update: Health Care Stocks Mixed Late Afternoon
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Sector Update: Health Care Stocks Mixed Late Afternoon
May 13, 2024 1:18 PM

03:58 PM EDT, 05/13/2024 (MT Newswires) -- Health care stocks were mixed in late Monday afternoon trading with the NYSE Health Care Index up 0.1% and the Health Care Select Sector SPDR Fund (XLV) decreasing 0.2%.

The iShares Biotechnology ETF (IBB) added 0.8%.

In corporate news, AC Immune ( ACIU ) and Takeda Pharmaceutical ( TAK ) signed an exclusive worldwide option and license agreement for AC Immune's ( ACIU ) immunotherapies, including the Alzheimer's disease treatment candidate. AC Immune ( ACIU ) shares soared 41%, and Takeda shed 1%.

Novo Nordisk ( NVO ) has been asked by Senator Bernie Sanders to reduce the prices of its Ozempic and Wegovy drugs in the US, multiple media outlets reported, citing a column published by Sanders in Danish newspaper Politiken. Separately, Novo Nordisk ( NVO ) said its Mim8 antibody was found to benefit patients with hemophilia A. Novo Nordisk ( NVO ) shares rose 3.2%.

CareCloud ( CCLD ) released details of an "unsolicited, non-binding indication of interest" on March 4 to buy the company for $5 a share. The stock surged 86%.

Fortrea ( FTRE ) lowered its full-year revenue outlook as the clinical development and patient access solution provider's Q1 financial results missed market expectations. The stock tumbled 15%.

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