Shares of health-care companies were more or less flat as traders awaited the outcome of legislative negotiations on the health-care overhaul. The Senate Republican leadership released the revised legislation, which would undo major parts of the Affordable Care Act, impose steep cuts on Medicaid and allow insurers to sell cheaper plans that don't meet the current law's regulations.
AstraZeneca shares fell after reports in the Israeli news that Chief Executive Pascal Soriot would leave AstraZeneca to lead generic-drug maker Teva Pharmaceuticals. Amicus Therapeutics said it plans to file by the end of this year an application for Food and Drug Administration approval to market a drug to treat Fabry disease, a rare genetic disorder. That the FDA changed its prior request for further clinical data from Amicus could be an indication that the agency is easing standards to speed up drug development, The Wall Street Journal reported. A small study on children with autism showed improved social behavior after treatment with the hormone oxytocin. Shares of Valeant Pharmaceuticals rose after it retired $500 million of its debt load as part of its turnaround plan.
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(END) Dow Jones Newswires
July 13, 2017 16:39 ET (20:39 GMT)