Dj Biontech Se Adr Advances 4.7%, Outperforms Market

Health care stocks rose late Wednesday afternoon with the NYSE Health Care Index gaining 1.2% and the Health Care Select Sector SPDR Fund (XLV) adding 1%.

The iShares Biotechnology ETF (IBB) climbed 1.8%.

In corporate news, Pfizer and its partner BioNTech infringed a COVID-19 vaccine patent owned by Moderna , Reuters reported, citing a German court ruling. Moderna shares jumped 16%, Pfizer added 0.7% and BioNTech rose 4.6%.

Kenvue named three new members to its board as part of a cooperation agreement with activist investor Starboard Value. Kenvue shares fell 1.8%.

Novo Nordisk launched a direct-to-patient delivery option that offers patients all dose strengths of Wegovy at a reduced cost. Novo shares gained 3.8%.

Amgen started two phase 3 trials for its obesity drug MariTide. Amgen shares rose 1.4%.

Health care stocks were higher late Wednesday afternoon, with the NYSE Health Care Index rising 1.2% and the Health Care Select Sector SPDR Fund (XLV) adding 1.1%.

The iShares Biotechnology ETF (IBB) climbed 1.8%.

In corporate news, Pfizer and its partner BioNTech have infringed a COVID-19 vaccine patent owned by Moderna , Reuters reported, citing a German court ruling. The court ordered Pfizer and BioNTech to disclose earnings related to the patent's use and pay a compensation to Moderna, the report added. Moderna shares jumped past 15%, Pfizer was up 0.4% and BioNTech rose 4.35%.

Pfizer and its partner BioNTech have infringed a COVID-19 vaccine patent owned by Moderna , Reuters reported Wednesday, citing a German court ruling.

The court reportedly ordered Pfizer and BioNTech to disclose earnings related to the patent's use and pay a compensation to Moderna, according to the report.

Pfizer and BioNTech argued they were permitted to use the technology based on Moderna's public statement until the World Health Organization declared in May 2023 that COVID-19 was no longer a global emergency, the media outlet reported.

The court did not determine the compensation amount, which will be decided in further legal proceedings and could change if there is an appeal, Reuters said.

Pfizer, BioNTech and Moderna did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Pfizer and BioNTech were found by a Düsseldorf court in Germany to have violated a COVID-19 vaccine patent authorized for use by Moderna .

Reuters reported Wednesday, citing the court ruling, that both biopharmaceutical companies must provide information on the earnings generated from using the patent.

Moderna, Pfizer and BioNTech did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)