Health Care Down Sharply on Rate-Sensitive Sector Bias -- Health Care Roundup

Health-care companies fell sharply as traders rotated into sectors with more to gain from falling Treasury yields.

Moderna said it's considering pricing its Covid-19 vaccine in a range of $110 to $130 per dose in the U.S. when it shifts from government contracting to commercial distribution of the shots. The biotech concern forecast $5 billion in Covid vaccine sales in 2023, down from $18.4 billion in 2022. Shares of rival vaccine maker Pfizer tumbled.

CureVac shares rallied after the vaccine developer said a combination flu and Covid shot showed promise in clinical trials.

Anglo-Swedish pharma giant AstraZeneca agreed to buy CinCor Pharma, which makes medicines for kidney disease and other applications, for roughly $1.3 billion.

Regeneron Pharmaceuticals fell sharply after the drugmaker posted a shortfall in sales of its eye-condition injection Eylea.

Shares of Sonnet BioTherapeutics Holdings rose after it unveiled a collaboration on a cancer treatment with Swiss drug giant Roche Holding.

 Write to Rob Curran at [e-mail] 

(END) Dow Jones Newswires

01-09-23 1731ET