Sector Update: Healthcare Stocks Gain Friday Afternoon
Healthcare stocks were higher Friday afternoon, with the NYSE Healthcare Index rising 2.3% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 2.5%.The iShares Biotechnology ETF (IBB) climbed 1.5%.In corporate news, Johnson & Johnson (JNJ) shares gained 3.5% after the company said Friday that a European Medicines Agency committee recommended expanding Tecvayli's approval in combination with daratumumab for adults with relapsed or refractory multiple myeloma who have received at least one prior therapy.Cumberland Pharmaceuticals (CPIX) shares jumped past 7% after the company presented updated phase 2 results showing additional evidence that ifetroban may help protect heart function in patients with Duchenne muscular dystrophy.Acadia Pharmaceuticals (ACAD) shares climbed nearly 9% after it said the European Medicines Agency's Committee for Medicinal Products for Human Use has adopted a positive opinion of Daybu following a re-examination procedure, recommending approval of the drug to treat neurobehavioral symptoms of Rett syndrome in patients aged five and older.
