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Health Care Shares Fall Amid Pandemic, Election Uncertainty -- Health Care Roundup

10/28/2020 | 04:07pm EST

Health-care companies were lower amid a raft of uncertainties including the trajectory of the coronavirus pandemic and the U.S. election Nov. 3.

Germany ordered a one-month partial lockdown starting Monday in the latest attempt by a European government to prevent hospitals from being overwhelmed by spiraling coronavirus cases. Germany's 16 states agreed to shut restaurants, bars, gyms, concert halls and theaters starting Nov. 2 as part of a plan to slow a surge in infections.

Hotels will be allowed to host only business travelers until the end of the month. The new restrictions come after similar moves in Italy and Spain.

In the U.S., new coronavirus cases climbed back above 70,000 for Tuesday as states across the country continued to report high levels of new infections.

Drugmaker Eli Lilly agreed to provide 300,000 doses of its experimental Covid-19 antibody drug to the federal government for $375 million, if the medicine is authorized for emergency use in the U.S., the company said.

The U.S. Department of Health and Human Services said the federal government will allocate the doses to state and territorial health departments, which will, in turn, determine which hospitals and health facilities get the drug.

In earnings news, GlaxoSmithKline reported a 20% decrease in third-quarter net profit but still beat market estimates and backed its full-year forecast.

Write to Amy Pessetto at amy.pessetto@dowjones.com

(END) Dow Jones Newswires

10-28-20 1706ET

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