Abbott Laboratories (ABT) Gets FDA’s Green Signal for Humira – ABT, MRK, SNY, DNDN, BSX, WCRX, PFE, BMY, PPHM

Abbott Laboratories Inc. (NYSE:ABT) reported on Friday that the Food and Drug Administration accepted its drug Humira as a cure for ulcerative colitis in adults.

The FDA accepted Humira as a cure for modest to harsh ulcerative colitis when other medicines have not operated. Abbott (ABT) stated that almost 700,000 people in the US have the disease, and indications consist of abdominal cramping, rectal bleeding, diarrhea, and urgent and frequent bowel movements.

Its competitors include Merck & Co., Inc. (NYSE:MRK) that slipped -0.30% to $45.10 with the total traded volume of 12.50 million shares and Sanofi SA (ADR) (NYSE:SNY) that dropped -3.24% to $43.06 with the total traded volume of 3.41 million shares.

Other Healthcare stocks with bullish trend include Dendreon Corporation (NASDAQ NDN) up +3.89% to $4.81, Boston Scientific Corporation (NYSE:BSX) up +1.41% to $5.74 and Warner Chilcott Plc (NASDAQ:WCRX) up +1.43% to $13.50, whereas with bearish trend include Pfizer Inc. (NYSE FE) down -0.44% to $24.85, Bristol Myers Squibb Co. (NYSE:BMY) down -0.30% to $33.75 and Peregrine Pharmaceuticals (NASDAQ PHM) down -7.21% to 1.03.

Abbott Laboratories (NYSE:ABT) dropped -1.10% or -$0.76 to close the trading at $68.56 following it hit intra day high level of $69.34. The total traded volume in the previous trading session was 12.11 million shares as compared to average 5.07 million shares. Its fifty two week trading range was $48.96 – $70.41. The total market capitalization reached $107.59 billion.

The stock price was ahead its 52 week low price with +44.88% and it lagged behind -2.63% from its 52 week maximum mark. Stock price volatility for last month remained 1.11%. In its share capital, the company has 1.57 billion outstanding shares out of which 1.57 billion shares have been floated in the market. For now, stock ownership with company’s management remained 0.12%.

ABT presented a down weekly performance of -1.52% with respect to its rate of return and it remained +4.50% for the month. However, the performance for a quarter experienced a positive change of +7.18% and it surged +36.82% for a year and its year to date performance remained in green with +25.00%.

Current stock price is in the upbeat territory taking into account of 20 days moving average with +0.81% and continued bullish run for 50 days moving average with +2.86%. Its earning per share for the past twelve months was $3.09. Company’s beta coefficient was at 0.31. Beta measures the amount of market risk associated with market trade.