Health Care Up After Kite Deal -- Health Care Roundup

Shares of health-care companies rose after a major merger in the biotech industry.

Shares of Kite Pharmaceuticals surged after Gilead agreed to buy its smaller rival for about $11 billion, betting that an experimental cancer treatment would prove effective.

Continue Reading Below

Shares of Juno Therapeutics and Bluebird Bio rose because both are developing oncology treatments that, like Kite's, enlist the body's T-cells in the fight against the disease.

-Rob Curran,

(END) Dow Jones Newswires

August 28, 2017 17:02 ET (21:02 GMT)