Shares of health-care companies rose as risky niches such as biotech stocks benefited from increased risk appetite.
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Shares of Incyte and its partner Eli Lilly rose after the companies revised the anticipated launch date of a rheumatoid arthritis drug they developed, saying the Food and Drug Administration no longer required a second test. This is one of a series of instances, including with a rare-disease drug developed by Amicus Therapeutics, where the FDA under the Republican administration has sped up the commercialization process.
Separately, the FDA approved the first gene therapy in the U.S., clearing the way for Novartis to use the new approach on certain types of leukemia with its Kymriah treatment.
Rob Curran, email@example.com
(END) Dow Jones Newswires
August 30, 2017 17:05 ET (21:05 GMT)