Health Care Shares Up As AbbVie Spurs Tax-Benefit Hopes - Health Care Roundup

FeaturesDow Jones Newswires

Shares of health-care companies rallied, as traders bet the sector will benefit disproportionately from tax cuts. Shares of AbbVie led the rally after the drug giant said new U.S. tax overhaul will slash its effective tax rate to 9% for 2018 and allow it to return more cash to shareholders. Shares of other drug companies that will soon report earnings, such as Pfizer, rose in sympathy. The deaths of Barry Sherman, the billionaire founder of generic drugmaker Apotex, known for its litigious strategies, and his wife are being investigated as homicides, according to Toronto police.

-Rob Curran, rob.curran@dowjones.com

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(END) Dow Jones Newswires

January 26, 2018 16:20 ET (21:20 GMT)

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