Health Care Shares Flat Despite Merger Speculation - Health Care Roundup

Features Dow Jones Newswires

Shares of health-care companies were flat amid speculation about a major merger. Aetna shares held most of their gains accrued after The Wall Street Journal reported that drug-store CVS was close to offering $66 billion, or more than $200-a-share for the health insurer. The surprise merger was reported on the same afternoon that shares of CVS and other drug stores such as Walgreen Boots Alliance were plunging because of fears about new competition. "This is all part and parcel of questions about health care and how ultimately the Affordable Care Act evolves, but also with rumors that Amazon are gong to move into pharmaceuticals -- you see that in the deal flow," said Quincy Krosby, chief market strategist at Prudential Financial. Merck said a cyberattack over the summer caused temporary production shutdowns and cut sales by at least $135 million in the third quarter.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

October 27, 2017 16:27 ET (20:27 GMT)