Sector Update: Health Care Shares Mostly Lower at Mid-Day – Endo Pharma Cut to Equal Weight from Overweight at Barclays

01:59 PM Eastern Standard Time, 12/08/2009 (MidnightTrader) — Dow Jones U.S. Health Care Index: -1.70 (-0.54%) at 314.42

Top Health Care Stocks:

JNJ: +0.03%

PFE: -1.66%

MRK: -0.35%

ABT: -0.77%

AMGN: -0.94%

Health care shares are lower in mid-day trading. Endo Pharmaceuticals (ENDP) is lower following a Barclays Capital downgrade. Pharmacyclics (PCYC) is higher after the company said late on Monday it presented positive interim data from a Phase I study of its orally administered Bruton’s tyrosine kinase inhibitor PCI-32765 in patients with relapsed or refractory B-cell non-Hodgkin’s lymphoma (NHL) or chronic lymphocytic leukemia.

PharmAthene (PIP) plunges after announcing that the Department of Health and Human Services Biomedical Research and Development Authority has canceled its request for proposal for recombinant protective antigen anthrax vaccine for the strategic national stockpile.

Endo Pharmaceuticals was cut to Equal Weight from Overweight at Barclays Capital.

Pharmacyclics said late on Monday it presented positive interim data from a Phase I study of its orally administered Bruton’s tyrosine kinase inhibitor PCI-32765 in patients with relapsed or refractory B-cell non-Hodgkin’s lymphoma or chronic lymphocytic leukemia.

PharmAthene announced that the Department of Health and Human Services Biomedical Research and Development Authority (BARDA) has canceled its request for proposal (RFP) for Recombinant Protective Antigen Anthrax Vaccine for the Strategic National Stockpile (RFP BARDA 08-15). BARDA issued a press release after the close of the securities markets announcing that it will cancel RFP BARDA 08-15 because it did not believe vaccine developers submitting proposals in response to the RFP could have product ready for FDA licensure within 8 years. BARDA further announced that instead of re-issuing an RFP, it will request that existing anthrax vaccine developers submit product development plans under special instructions to an existing broad agency announcement (BAA-BARDA-09-34) that supports the development of medical countermeasures for chemical, biological, radiological and nuclear threats.