Health Care up on Drug Breakthroughs

Dow Jones
Oct 06

Health-care companies rose as traders bet drug-development breakthroughs and deal activity would continue.

Vaxcyte shares surged after the drug maker said its experimental pneumonia vaccine compared favorably to two shots now on the market in a large final-stage trial.

Eli Lilly shares rose after it received a favorable Food and Drug Administration designation for a pancreatic-cancer drug candidate.

Japanese drug maker Shionogi agreed to buy Austin rival IntraBio for $2 billion.

Medical machinery maker GE Healthcare is reportedly close to a $945 million buyout of medical-imaging materials maker Sofie Biosciences.

Cannabis firm Curaleaf Holding sweetened its offer for rival Aurora Cannabis, courting institutional investors who may nudge Aurora into negotiations with Curaleaf.

UnitedHealth Group shares rose even after reports that Texas Attorney General Ken Paxton was launching a probe into the health insurance giant's business practices.

 

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