Health Care Up as Administration Seen Backing Off Price Controls - Health Care Roundup

Features Dow Jones Newswires

Shares of health-care companies rose as hopes that the Trump administration would give drug companies a free hand on prices buoyed the sector.

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The iShares Nasdaq Biotechnology ETF's rise Thursday brought its gain on the week to roughly 10%, which would be the largest gain since the week ended Nov. 11 when the ETF surged 14.4%.

There was a muted reaction on the stock market to the release of the Senate Republican bill. The 142-page bill would undo large parts of the Affordable Care Act, including its expansion of the Medicaid program for the poor and disabled and a requirement that most Americans pay a penalty if they don't have insurance.

Senate Republican Leader Mitch McConnell has set an accelerated timetable in an effort to pass the bill through the Senate by the July 4 recess.

(-By Rob Curran, rob.curran@dowjones.com)

(END) Dow Jones Newswires

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June 22, 2017 16:36 ET (20:36 GMT)