Top Health Care Stocks

JNJ +0.82%

PFE +0.32%

ABT +0.23%

MRK +0.79%

AMGN +2.89%

Health care stocks were posting big rebounds Wednesday following yesterday's declines, with the NYSE Health Care Sector Index jumping nearly 0.8% and shares of health care companies in the S&P 500 up 1.2% as a group.

In company news, BioCryst Pharmaceuticals Inc. ( BCRX ) rose Wednesday after the company's BCX4161 experimental medication received orphan drug designation from U.S. regulators to prevent the rapid swelling of skin tissue in patients with hereditary angioedema.

BCX4161 works by selectively inhibiting plasma kallikrein and suppressing production of bradykinin, which is a peptide that causes blood vessels to dilate and smooth muscle to contract.

The U.S. Food and Drug Administration grants orphan drug status for drugs intended to treat diseases affecting fewer than 200,000 Americans. The designation provides federal grants, tax credits, fee waviers and other incentives to support development in addition to a seven-year exclusivity period to market the drug without competition.

Read more:

Health Care Sector Update for 12/24/2014: BCRX,ACHN,BLRX,NVS