Shares of health-care companies declined as traders rotated into more economically sensitive areas. A federal jury in Brooklyn, N.Y., found Martin Shkreli, the pharmaceutical executive who became notorious after a price-hiking scandal, guilty of three counts related to securities fraud and acquitted him of five others. Eli Lilly said a migraine drug showed promise in a late-stage clinical trial. Shares of Cigna rose after the health insurer, a big player in government-supported programmes such as Medicare, posted quarterly earnings and revenue ahead of Wall Street targets. United Therapeutics rallied after reports rivals Gilead Sciences and GlaxoSmithKline may be interested in buying the biotech company.
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(END) Dow Jones Newswires
August 04, 2017 16:32 ET (20:32 GMT)