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.

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)