Sector Update: Health Care Stocks Advance Late Afternoon

MT Newswires Live10-19

Health care stocks were higher late Friday afternoon, with the NYSE Health Care Index up 0.3% and the Health Care Select Sector SPDR Fund (XLV) rising 0.4%.

The iShares Biotechnology ETF (IBB) increased 0.2%.

In corporate news, Sanofi (SNY) is close to finalizing a deal this weekend to sell control of its consumer health unit Opella to Clayton Dubilier & Rice, Bloomberg reported. Sanofi shares added 0.2%.

Bright Minds Biosciences (DRUG) shares soared 159% after the company said Friday that it launched a private placement of shares at $21.70 apiece.

CVS Health (CVS) shares tumbled past 5%. The company said Friday it named David Joyner as its new chief executive, while issuing a preliminary Q3 earnings outlook that came in below analysts' estimates.

Orgenesis (ORGS) shares plunged 35% after the company said in a regulatory filing it was notified that the Nasdaq hearings panel has decided to delist its shares and suspend trading, effective Monday.

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