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Health Care Roundup: Market Talk

21 Mar 2018 8:20 am

The latest Market Talks covering the Health Care sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0753 GMT - Taking a step forward towards implementing one of the world's largest government-funded health-care programs, India's cabinet is expected to give a formal approval to the spending plan later Wednesday, an official tells WSJ. The government plans to spend around INR105 billion ($1.6 billion) the next 2 years on the effort, shouldering as much as $8,000/year in medical expenses for about 500 million people. The program is seen as opening up new business opportunities for insurers, which have been looking to expand their footprints in India. (rajesh.roy@wsj.com)

0538 GMT - Australian stocks lagged Wednesday as gains in commodity names was largely offset by declines in health care and REITs. The S&P/ASX 200 rose 0.2% to 5950.3 after having fallen in 4 of the prior 6 days. The energy sector climbed 1.2% on oil's 2% jump Tuesday. But health care fell 0.6% and REITs shed 0.5% ahead of the Fed's likely latest rate hike on Wednesday. Hearing-aid firm Cochlear shed 1.8%. (kevin.kingsbury@wsj.com; @kevinkingsbury)

1456 GMT - Siemens's recently listed Healthineers business benefits from structural market growth in the medical-technology sector, says LBBW. The bank takes up coverage of Siemens Healthineers, rating it at hold with a EUR34 price target. It says the company is a strong margin business and operates in an attractive, high-growth market segment. The expansion of the med-tech industry is boosted by an aging society, growing population, growing number of chronic deceases and better healthcare, LBBW says. Siemens Healthineers shares trade up 2.7% at EUR31.97.

(Max.Bernhard@dowjones.com; @mxbernhard)

1449 GMT - Peel Hunt says that Motif Bio's delay in submitting its new drug application to the FDA won't have a large impact on the company, but downgrades the target price by 1 pence, to 106 pence, from 107 pence. The pharmaceutical company said it will submit a new drug application for its antibiotic iclaprim to the FDA in Q2 of this year--instead of Q1 like it guided for initially--in order to ensure the strongest possible submission. Peel Hunt says this results in a three-month delay in its sales model, and adjusts its 2019 sales forecast to GBP36.1 million from GBP32.1 million. Shares down 10% to 32 pence. (carlo.martuscelli@dowjones.com)

(END) Dow Jones Newswires

March 21, 2018 04:20 ET (08:20 GMT)

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