Health Care Flat on Promising Drug Developments - Health Care Roundup

Health-care companies were more or less flat amid promising drug developments.

Shares of Eli Lilly soared by 7% after the drug giant said an Alzheimer's disease drug candidate showed promise in a late-stage clinical trial, a development that came on the heels of similarly positive results from an obesity-drug trial.

The Alzheimer's drug, donanemab, slowed loss of cognitive function, even as it produced some adverse side effects.

Drug-store chains fell after one of the nation's largest cut its 2023 profit projection.

CVS Health, which is also a major health insurer, saw shares fall after the cut its earnings projection for the year, citing the impact of acquisitions. Rival Walgreens Boots Alliance fell by roughly 5%.

Dentsply Sirona shares fell after the maker of X-ray equipment and other dentistry supplies posted a first-quarter loss.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

05-03-23 1710ET