Health-care shares slipped amid a surge of coronavirus cases that has strained hospitals.
Hospitalizations in the U.S. jumped to a record Sunday as the nation reported more than 210,000 new cases, according to data compiled by Johns Hopkins University.
The rollout of vaccines in the U.S. has fallen significantly behind schedule. The Trump administration had set a goal of administering 20 million doses of the vaccine before the end of 2020.
In the end, fewer than 2.8 million doses had been administered as of Dec. 31, according to the CDC.
Contract-manufacturing companies working with Pfizer, Moderna and AstraZeneca to accelerate the global availability of coronavirus shots are struggling with a shortage of their own: the staff to meet the production push. The labor crunch is another potential drag on a global vaccine rollout already facing a supply backlog and requiring near-flawless logistics.
In corporate news, a high-profile health-care venture launched by three of the world's biggest and best-known companies - Amazon.com, Berkshire Hathaway and JPMorgan Chase - is folding two years after its founding, the company said Monday.
Haven Health sought to reduce health-care costs for hundreds of thousands of workers at the three companies by pooling resources and technology. It plans to cease operations in February without having achieved those aims.
Venture-capital investment in telehealth soared last year as startups grew to meet pandemic-driven demand. Globally, telehealth startups gathered $10.22 billion through Dec. 20, an increase of more than 70% from the $5.95 billion raised in all of 2019, according to market-intelligence firm CB Insights.
Prices of hundreds of drugs rose on average by 3.3%, according to an analysis of about 70 companies. The rate was lower than last year's increases. The drug industry normally sets prices for its therapies at the start of the year and again in the middle of the year.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
01-04-21 1706ET
