Sector Update: Health Care Stocks Flat to Higher Premarket Tuesday

MT Newswires Live

Aug 12

Health care stocks were flat to higher premarket Tuesday, with the iShares Biotechnology ETF (IBB) inactive and the Health Care Select Sector SPDR Fund (XLV) up 0.3%.

Cardinal Health (CAH) shares were down more than 9% after the company reported fiscal Q4 revenue that missed analysts' expectations and said it will provide about $1.90 billion to The Specialty Alliance, its management services organization platform, for the acquisition of Solaris Health.

Amphastar Pharmaceuticals (AMPH) shares were up more than 4% after the company said it has entered into an exclusive licensing agreement with Nanjing Anji Biotechnology to develop and commercialize three peptide-based therapies in the US and Canada.

Valneva (VALN) stock was up more than 7% after the company reported a higher H1 revenue.

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