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

FeaturesDow Jones Newswires

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.

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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,

(END) Dow Jones Newswires

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