Health care stocks were flat to higher premarket Monday with the Health Care Select Sector SPDR Fund (XLV) up 0.3% and the iShares Biotechnology ETF (IBB) inactive recently.
Sarepta Therapeutics (SRPT) shares fell by nearly 40% after the company said it is temporarily suspending shipments of Elevidys for non-ambulatory patients with Duchenne muscular dystrophy following a second reported case of acute liver failure resulting in death.
Supernus Pharmaceuticals (SUPN) has agreed to acquire Sage Therapeutics (SAGE) in a deal worth up to $795 million, the companies said. Shares of Sage Therapeutics were up more than 34% and Supernus Pharmaceuticals were more than 3% higher pre-bell.
QIAGEN (QGEN) and Incyte (INCY) said they have collaborated to develop a next-generation sequencing diagnostic panel to support Incyte's portfolio of investigational therapies for myeloproliferative neoplasms, a group of rare blood cancers. Shares of QIAGEN were up 0.6%, while those of of Incyte were up more than 5% premarket.
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