Biontech Shares Drop Amid Pfizer’s Vaccine Write-Offs, Establishment Labs Gains on FDA Clearance By


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In the healthcare sector, several significant events unfolded on Monday. Shares of BioNTech (NASDAQ:) fell by more than 6% following the company’s announcement of a projected Q3 negative impact of up to 900 million euros ($947.5 million). This downturn is linked to Pfizer (NYSE:)’s write-offs and charges related to the Comirnaty COVID-19 vaccine.

Meanwhile, Henry Schein ‘s (NASDAQ:) stock decreased by over 2% due to a cybersecurity incident affecting its manufacturing and distribution units. The company is currently working to mitigate the situation and restore normal operations.

On a positive note, Establishment Labs Holdings’ (NASDAQ:) shares rose above 4% after receiving FDA clearance for its Motiva Flora SmoothSilk tissue expander. This approval marks a significant milestone for the company in expanding its product portfolio.

In the broader market, the Health Care Select Sector SPDR Fund (NYSEARCA:XLV) advanced by 0.5% during pre-bell Monday, while the iShares Biotechnology ETF (NASDAQ:IBB) remained inactive. This movement indicates a mixed performance within the healthcare sector, with individual companies experiencing varied fortunes based on their recent developments.

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