Shares of health-care companies fell as a retreat from the high-risk biotechnology niche continued. The iShares Nasdaq Biotechnology Index fell 1.7% and is down more than 10% from its peak in the summer. German health-care concern Bayer agreed to pay $400 million to Loxo Oncology for joint rights to two experimental cancer drugs. Shares of Ireland-based Shire rose after brokerage Liberum Capital boosted its rating on the drug maker, saying it could return cash to shareholders rather than continuing to buy rivals. Express Scripts Holding declined after the drug wholesaler agreed to buy closely-held medical benefit management company eviCore healthcare for $3.6 billion.
-Rob Curran, email@example.com
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(END) Dow Jones Newswires
November 14, 2017 16:12 ET (21:12 GMT)