Health-care Stocks Absent From Stock-market Rally

Health-care shares were being excluded from a stock-market run-up Thursday. The S&P 500's health-care sector is the only one of the stock-market gauge's 10 sectors in negative territory as equities mount one of their best advances since September. Health-care stocks slipped 0.9% in Thursday trading, while the average gain for the S&P's other sectors, excluding health care, is up 1.8%. The downdraft in health-care marks a third consecutive session of declines in the sector and comes after a bruising Wednesday session for health-care and biotech shares a day after large pharmaceutical company Valeant Pharmaceuticals International Inc. plunged as much as 40% intraday on allegations from a short-seller. Shares of Valeant extended losses Thursday, falling a further 15%.

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