Sector Update: Healthcare Stocks Rise Pre-Bell Monday
Healthcare stocks were rising pre-bell Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) 1.2% higher and the iShares Biotechnology ETF (IBB) advancing by 0.8%.AstraZeneca (AZN) is in talks with Bristol Myers Squibb (BMY) about a potential combination that would create a pharmaceutical company valued at nearly $400 billion, the Financial Times reported, citing unnamed people familiar with the matter. Astrazeneca stock was 7% lower, while Bristol Myers Squibb shares were up more than 3% premarket.Supernus Pharmaceuticals (SUPN) and Indivior Pharmaceuticals (INDV) said they will merge in a tax-free, all-stock deal. Shares of Supernus Pharmaceuticals were up more than 14% and Indivior Pharmaceuticals stock advanced past 1% pre-bell.KKR (KKR) entered into a definitive agreement to acquire Integer (ITGR) through affiliated funds in an all-cash transaction at an enterprise value of $5.7 billion, the companies said. Integer shares were up more than 2% premarket.
