Elbit Medical Gains to Two Week-High on Unit’s Marketing Update

Elbit Medical Technologies Ltd. (EMTC) advanced to the highest in two weeks after the company with stakes in medical-device manufacturers said a unit expects to get permission in 2014 to market a product in the U.S.

Shares of the Tel Aviv-based company surged 4.7 percent to 0.133 shekel at 11:59 a.m. in Tel Aviv.

Elbit Medical said Gamida Cell expects to get approval during 2014 to market its StemEx drug, for the treatment of leukemia and lymphoma, in the U.S. Elbit has a 30.8 percent stake in Gamida.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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