Shares of health-care companies rose as the recent trend of large drug companies paying rich premiums for smaller rivals continued.
Biotech giant Celgene agreed to buy blood-cancer drug developer Juno Therapeutics for about $9 billion, the latest deal in the oncology field.
Meanwhile, French drug giant Sanofi agreed to buy hemophilia drugmaker Bioverativ for more than $11.5 billion.
Shares of other mid-sized drug and treatment developers, such as Spark Therapeutics, rose sharply as analysts said the deals raised valuations sectorwide.
-Rob Curran, email@example.com
(END) Dow Jones Newswires
January 22, 2018 16:27 ET (21:27 GMT)