Shares of health-care companies fell as a procedural bill passed the Senate, opening up the possibility of a vote on repeal of some elements of the Affordable Care Act.
The process Senate Majority Leader Mitch McConnell is using to pass the health bill means both parties can add a host of amendments during the debate, complicating the political calculus and accelerating decision making for major changes to the U.S. health-care system, The Wall Street Journal reported.
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Incyte shares slid after the Food and Drug Administration asked for a further clinical trial on a drug candidate to treat rheumatoid arthritis.
Shares of Incyte partner Eli Lilly, which reported better-than-forecast quarterly earnings, also declined.
Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
July 25, 2017 17:34 ET (21:34 GMT)