Health Care Stocks Drifting Back Near Break-Even Marks

Health care stocks were little changed Monday afternoon, with the NYSE Health Care Index falling less than 0.1% while shares of health care companies in the S&P 500 were up less than 0.1% as a group.

In company news, Concordia International Corp (CXRX,CXR.TO) was surging during Monday trading after the Canadian drugmaker said it has more than enough funds on hand to continue operations after paying the first GBP 72 million ($89.3 million) installment under an earn-out agreement with Cinven as part of its upcoming acquisition of Amdipharm Mercury.

In addition to a $410 million cash balance, Concordia said it also has up to $200 million more available through its undrawn revolving credit facility.

By Travis Berry