Sector Update: Health Care Stocks Steady Premarket Monday

MT Newswires Live06-03

Health care stocks were steady premarket Monday as the Health Care Select Sector SPDR Fund (XLV) was marginally higher and the iShares Biotechnology ETF (IBB) was recently inactive.

GSK (GSK) fell more than 8% after a Delaware court ruled Friday that the company should face trials over allegations that its heartburn treatment Zantac causes cancer.

Becton, Dickinson (BDX) signed a definitive deal to acquire Edwards Lifesciences' (EW) critical care product group for $4.2 billion in cash, the companies said. Becton, Dickinson was up more than 2% pre-bell.

Summit Therapeutics (SMMT) advanced past 11% after saying it received and accepted an unsolicited offer from an institutional investor to buy about 22.2 million shares of the company's common stock at $9 per share for gross proceeds of about $200 million.

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