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Elbit Medical Gains to 2-Week High on Unit’s U.S. Marketing

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July 4 (Bloomberg) -- Elbit Medical Technologies Ltd. rose to the highest level in more than 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 5.5 percent to 0.134 shekel, the highest since June 19, at the 4:30 p.m. close 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