Health-care companies rose, but not by much, as traders rotated into more economically cyclical sectors.
Shares of Merck ticked down even after the U.S. Food and Drug Administration approved its Covid-19 pill. The FDA approved the molnupiravir treatment developed by Merck and partner Ridgeback Biotherapeutics for adults at high risk of severe disease to take at home shortly after they develop mild to moderate symptoms. Shares of rival Pfizer, which is set to commercialize a Covid pill of its own, also slipped.
Healthcare diagnostics maker Quidel agreed to buy Ortho Clinical Diagnostics Holdings for $24.68 a share of common stock in cash and newly issued shares in the combined company.
AstraZeneca said its Covid-19 vaccine significantly increased levels of antibodies against the Omicron variant as a third-dose booster shot in a study.
Drugmaker Endo International reached a $63 million settlement of all government-related opioid claims in Texas without an admission of wrongdoing.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-23-21 1703ET
