Shares of health-care companies were flat ahead of legislative negotiations on a budget and taxes. Rare-disease drug maker Alexion Pharmaceuticals said it's cutting its workforce by 20%, moving its headquarters to Boston and closing offices and manufacturing sites in an effort to restructure and put a sales-practices controversy behind it. Intercept Pharmaceuticals slid after the biotech company sent notes to doctors warning of the health risks associated with a liver drug. UnitedHealth Group confirmed its in merger talks with Chilean health-care concern Banmedica.
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(END) Dow Jones Newswires
September 12, 2017 16:21 ET (20:21 GMT)