Health Care Drops On Growth-Sector Bias -- Health Care Roundup

Health-care companies fell as traders rotated into sectors with stronger growth rates.

Shares of British pharmaceutical giant GlaxoSmithKline rose slightly after it pledged to bolster revenue growth and gave further details on the long-planned separation of its consumer-health business, in an effort to assuage the concerns of activist hedge fund Elliott Management, which recently divulged a Glaxo stake.

Glaxo targeted revenue from drugs and vaccines of at least 33 billion British pounds sterling, or roughly $46 billion, by 2031, compared with the 24 billion British pounds reported for those businesses last year.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

06-23-21 1631ET