Shares of health-care companies slipped even as deal news drove individual stocks higher.
Valeant Pharmaceuticals reached a deal to sell its iNova Pharmaceuticals unit for $930 million as it works to reset itself after a crisis, cutting billions in debt and refocusing on its core treatment areas and geographies. Valeant shares added 9%.
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SciClone Pharmaceuticals Inc. is being bought by a buyout group for $11.18 a share, or $605 million, sending shares higher.
(END) Dow Jones Newswires
June 08, 2017 18:21 ET (22:21 GMT)