Health-care companies rose, but not by as much as the broad market, after the Biden administration endorsed plans for a temporary suspension of vaccine patents as part of an effort to speed distribution in India and other hard-hit developing nations.
The U.S. said it would support a temporary waiver of intellectual-property rights to enable developing countries to make their own Covid-19 vaccines.
Moderna shares gave back some of their gains after it turned its first-ever quarterly profit, helped by $1.73 billion in revenue from its Covid-19 vaccine. Shares of Pfizer and BioNTech were also lower.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-06-21 1721ET
