Health Care Higher as Big Pharma Strength Offsets Biotech Weakness -- Health Care Roundup

Shares of health-care companies ticked up as strength in big pharmaceutical and insurance stocks made up for weakness in biotechs.

Shares of Pfizer rose after it named executive Albert Bourla to a newly created position of chief operating officer, positioning him to succeed Chief Executive Ian Read.

Last week saw more declines for biotech companies, which have gone out of fashion on the stock market, according to one brokerage.

"Sector weakness continues, despite bright spots, and binary/catalysts avoidance appears to be in favor," said analysts at brokerage Nomura Securities in a research note.

Nektar Therapeutics rose after one of the drug maker's cancer treatment candidates showed promise in a clinical trial in combination with partner Bristol-Myers Squibb's Opdivo immunotherapy.

Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

November 13, 2017 17:08 ET (22:08 GMT)