Health Care Sector Report: February 28th, 2011

Published on Mon, 02/28/2011 - 14:50
By Stephanie Shyu in General Interest, JNJ, MYL, PFE, approval, australia, defects, device, disease, drug, fda, gabapentin, generic, health, healthcare, high school, hip replacement, jnj, johnson & johnson, lawsuit, matrix labs, medical, myl, mylan, neurontin, patients, pfizer, pharma, pill, sector, shingles, subsidiary, sue, tasmania, teacher, treatment, Health & Pharma Report
approval, australia, defects, device, disease, drug, fda, gabapentin, generic, health, healthcare, high school, hip replacement, jnj, johnson & johnson, lawsuit, matrix labs, medical, myl, mylan, neurontin, patients, pfizer, pharma, pill, sector, shingles, subsidiary, sue, tasmania, teacher, treatment

Health care shares are higher Monday. Bloomberg is reporting that a high school teacher in Tasmania is suing Johnson & Johnson over an implanted hip-replacement device that stopped selling in Australia due to defects. Meanwhile, Mylan Inc. (MYL) is higher, helped by positive news from its subsidiary, Matrix Laboratories. The firm received final approval from the U.S. FDA for its New Drug Application (ANDA) for Gabapentin Capsules, which is the generic version of Pfizer's Neurontin. The drug is used to treat a painful complication of shingles.

By Stephanie Shyu
sshyu@fnno.com

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