Health-care companies rose, but not by as much as the broad market, as investors bought into sectors with more to gain from an extension of the Federal Reserve's monetary stimulus.
Pfizer and BioNTech asked the U.S. Food and Drug Administration to grant full approval for their Covid-19 vaccine, which already has "emergency use" approval but faces some limitations on distribution and advertising without the official green light.
The Biden administration's unexpected support for temporarily waiving Covid-19 vaccine patents is unlikely to have a short-term impact on drug company profits, according to Wall Street analysts.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-07-21 1723ET
