Shares of health-care companies declined as traders digested the implications of the House of Representatives' health-care bill for drug makers and hospitals. Some advocacy groups for hospitals and other medical interest groups publicly opposed the Republican bill. Insurer Anthem said it would petition the Supreme Court to review the antitrust rulings blocking its acquisition of Cigna, a long-shot bid to revive a $48 billion deal that has foundered with litigation on both sides. Celgene shares ticked down after analysts at brokerage Argus cut their rating on the biotech company, citing concerns about its over-reliance on a multiple-sclerosis drug for revenue. Johnson & Johnson was hit with a $110 million jury decision in favor of a woman who said talc in the company's baby powder gave her ovarian cancer. J&J said it wouldn't settle any cases and would continue to defend the safety of its talcum powder.
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(END) Dow Jones Newswires
May 05, 2017 16:25 ET (20:25 GMT)