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, firstname.lastname@example.org
(END) Dow Jones Newswires
August 28, 2017 17:02 ET (21:02 GMT)