Sector Update: Health Care Stocks Mixed Tuesday Afternoon

MT Newswires Live2024-11-20

Health care stocks were mixed Tuesday afternoon, with the NYSE Health Care Index fractionally up and the Health Care Select Sector SPDR Fund (XLV) down 0.3%.

The iShares Biotechnology ETF (IBB) rose 0.3%.

In corporate news, Novo Nordisk (NVO) has launched its weight-loss drug Wegovy in China, with the first prescription to be issued at a public hospital in Shanghai this week, China-based media outlet Yicai reported Monday, citing the Danish drugmaker's official WeChat account. Novo shares popped 3.1%.

Insmed (INSM) said Tuesday it terminated the sale agreement with Leerink Partners, effective Monday. Under the deal, the company agreed to offer and sell up to $500 million shares from time to time through Leerink as an agent. Insmed jumped past 9%.

EnVVeno Medical (NVNO) climbed 11.2% after the medical technology company said it had filed a premarket approval application with the US Food and Drug Administration for its VenoValve implants to treat severe chronic venous insufficiency.

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