Health care stocks were ailing Thursday afternoon despite a rally in the broader market.
With the exception of
, which was up about 1 % to $32.68, and
Procter & Gamble
, which was inching up 0.4% to $48.67, widely held health care stocks were losing, while the Dow climbed 2.4% and the Nasdaq rose 3%.
announced a partnership to develop a drug for atrial fibrillation, a deal that could result in Merck paying Cardiome more than $600 million. Merck shares were recently falling 1.2% to $26.44
Johnson & Johnson
, which announced that the CYPHER stent outperformed the ENDEAVOR and TAXUS stents in a trial involving ischemia-driven target lesion revascularization and stent thrombosis, was down 0.1% to $51.39.
was losing 1.6% to $29.58.
was down 0.4% to $13.43.
was down 0.5% to $43.77.