Health Care Up, But Not by Much, on Cyclical Bias - Health Care Roundup

Features Dow Jones Newswires

Shares of health-care companies rose, but not by as much as the broader market, as traders rotated into more economically cyclical areas. The U.S. Attorney's Office for the Southern District of Florida issued a grand jury subpoena to pain-pill maker Endo Pharmaceuticals asking for information about opioid-related products. In the wake of an agreed-upon settlement of a lawsuit over his investment in Allergan, principal of hedge fund firm Pershing Square, Bill Ackman, will refund $32.2 million of the incentive fee investors paid for 2014, the year in which the firm made a big profit on its controversial Allergan trade.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

January 11, 2018 16:17 ET (21:17 GMT)