Health-care companies rose, shrugging off some recent weakness associated with proposals in the Republican tax-and-budget bill.
One strategist noted that the health-care sector has been among the biggest S&P 500 laggards in the last 12 months, despite a bonanza in sales of GLP-1 drugs, as some companies have struggled to capitalize on the robust demand for the products.
"It still baffles me that Big Pharma are not seeing [more gains] on weight-loss drugs," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
Moderna shares rallied after the biotechnology company's messenger RNA flu vaccine candidate showed positive results in a late-stage trial.
AbbVie agreed to acquire Capstan Therapeutics, which is developing a promising autoimmune-disorder drug, for $2.1 billion in cash.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-30-25 1730ET
