Shares of health-care companies fell as traders bet the sector would remain prone to legislative risk.
States are grappling with the obligation to pay 5% of the cost to expand Medicaid under the Affordable Care Act this year. Under the Republican bill to replace the ACA, the obligations would eventually be far higher.
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Roche declined after the Swiss drug company said its new drug Tecentriq failed to improve overall survival in a clinical trial of patients with bladder cancer, compared with chemotherapy. The setback for the immunotherapy treatment was such that analysts at brokerage Bernstein mused: "Does this mark a limit?" for the promising oncological niche of immunotherapy.
Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
May 10, 2017 17:24 ET (21:24 GMT)