Health Winners and Losers: AstraZeneca
Health care stocks started the week mixed amid a smattering of earnings, trial data and other news.
According to U.K.-based AstraZeneca, the drug was more effective at preventing serious cardiac events such as myocardial infarction, stroke and cardiovascular death than clopidogrel, or Plavix, in a stage III trial. The company said it plans to submit the drug to regulatory authorities in the fourth quarter of 2009.
AstraZeneca shares were up 5.6% to $38.15. Bristol shares were down 0.5% to $20.29, and Sanofi-Aventis slipped 1% to $29.86.Meanwhile, The Wall Street Journal is reporting that the deaths of two patients in Delaware who took Baxter's (BAX) blood-thinner heparin have spurred concern of a contamination akin to one in 2008. A third patient also had medical problems, according to The Journal. A representative for Baxter told the paper that the drug involved in the deaths contained bulk material supplied by Pfizer (PFE). Pfizer couldn't be reached for comment by The Journal. In the approximately 80 deaths that were linked to tainted heparin last year, the bulk material came from China, Baxter said. "We are not pointing fingers at Baxter," Wallace Hudson of Beebe Medical Center, which confirmed the deaths, told The Journal. "We don't know what's going on, but heparin is the only commonality that we were able to see ourselves." The heparin is being tested, but so far no problems have been found, the report said. Baxter shares were up 0.2% to $50.36. Pfizer shares were down 1.7% to $14.15.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV