Healthcare shares sank on Wednesday, lead by biotechnology stocks, after Gilead Sciences Inc said it gave health insurers steeper-than-expected discounts on its hepatitis C drugs, fueling worries that the broader sector would face rising price pressure.
The Nasdaq Biotechnology index chopped down as much as 3.85 percent, laying it on track for its leading daily turn down since Dec. 23 as biotech companies are seen to be under the most pressure to cut prices for their expensive-to-develop drugs.
Despite of the healthcare sector tumbled, few of the healthcare companies still showed a positive response during Wednesday’s trade. Details are as under:
Top Mover In Healthcare Sector: iBio, Inc. (NYSE:IBIO), boosted 26.44% to close at $0.55, soon after a leader in plant-based biotechnology for developing and manufacturing biological products, declared the issue of a new U.S. patent in the company’s iBioModulator™ thermostable immunomodulator protein portfolio. The new patent, Serial No. 8,945,580 entitled “Yersinia pestis Antigens, Vaccine Compositions and Related Methods,” comprises claims covering plague antigens fused to the Company’s iBioModulator™ thermostable immunomodulator protein, in addition to vaccine compositions and a method for producing a protective immune response to the antigen. Scientific data formerly published in the peer-reviewed scientific journal, Vaccine, demonstrated that a recombinant plague vaccine incorporating the iBioModulator™ thermostable immunomodulator protein, and produced via the iBioLaunch™ gene expression platform in green plants, offered full protection of non-human primates against aerosolized Y. pestis (pneumonic plague), a potential bioterrorism weapon.
iBio, Inc. (NYSE:IBIO), is developing a proprietary product, IBIO-CFB03, for the treatment of idiopathic pulmonary fibrosis, systemic sclerosis, and other fibrotic diseases using its iBioLaunch™ gene expression platform.
Shares of Egalet Corporation, (NASDAQ:EGLT) jumped nearly 9.34% and closed at $9.95 in Thursday’s pre-market activity moving within a 52-week trading range of $3.81 - $19.85, as a specialty pharmaceutical company focused on developing and commercializing effective pain medications while delivering peace of mind to physicians and patients, declared that Bob Radie , president and chief executive officer, will present at forthcoming conferences: Virtual Investor Conferences on Thursday, February 5, 2015 at 1:00 PM EST and for the Webcast, link is http://VirtualInvestorConferences.com.
Egalet Corporation, (NASDAQ:EGLT), a fully integrated commercial specialty pharmaceutical company, is focused on developing, manufacturing and marketing innovative pain treatments.
Ruthigen, Inc. (NASDAQ:RTGN), surged 9.29% to close at $4.47, holding the market capitalization of $21.47M. The company has 52-week range of $3.31 - $8.47. Its intraday range is $4.00 - $4.47.
Ruthigen, Inc. (NASDAQ:RTGN), a biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical-grade hypochlorous acid based therapeutics to prevent and treat infection in invasive applications.
Shares of the Edwards Lifesciences Corp. (NYSE:EW), enhanced 6.18% & closed at $134.85, soon after the global leader in the science of heart valves and hemodynamic monitoring, is scheduled to present at the Leerink Global Healthcare Conference at the Waldorf Astoria Hotel in New York City on Wednesday, February 11, 2015.
Edwards Lifesciences is the global leader in the science of heart valves and hemodynamic monitoring. Driven by a passion to assist patients, the company partners with clinicians to develop innovative technologies in the areas of structural heart disease and critical care monitoring that enable them to save and enhance lives.
MannKind Corp. (NASDAQ:MNKD), mounted 4.69% to close at $6.81, as Sanofi and MannKind Corporation declared that Afrezza® (insulin human) Inhalation Powder, the only inhaled insulin, is now accessible by prescription in U.S. retail pharmacies nationwide. Afrezza is approved by the U.S. Food and Drug Administration to control high blood sugar in adults with type 1 and type 2 diabetes.
MannKind Corp. (NASDAQ:MNKD), focuses on the discovery, development and commercialization of therapeutic products for patients with diseases such as diabetes.
