Sector Update: Health Care

Financial News Network
April 25, 2011 AT 7:17 PM
Health care shares are mixed to lower in mid-day trading while Merck (MRK) is seeing some downward pressure after the US Food and Drug Administration expressed concern over one of its experimental drugs. The FDA has said that it has seen possible anemia and psychiatric side effects in Merck's experimental hepatitis drug, boceprevir, according to Reuters. Meanwhile, Wells Fargo reportedly upgraded Johnson & Johnson (JNJ) to "outperform" from "market perform." The firm cited the company's consent decree with the FDA, four drug launches expected in the second half of 2011, and potential acquisition of Synthes.