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Health Care Up as Biogen Surges -- Health Care Roundup

09/28/2022 | 05:38pm EST

Health-care companies rose after a jump in the price of one bellwether.

Shares of biotech giant Biogen surged by roughly 40% after lecanemab, an Alzheimer's drug candidate it's developing with Japanese rival Eisai, slowed the disease's progression in patients in a clinical trial.

"This result is clinically significant and should lead to full approval," said analysts at brokerage Morgan Stanley, in a note to clients.

Johnson & Johnson named the new standalone company housing popular consumer health brands -- including Band-Aid bandages and Tylenol medicines -- Kenvue.

 Write to Rob Curran at rob.curran@dowjones.com 

(END) Dow Jones Newswires

09-28-22 1737ET

Stocks mentioned in the article
ChangeLast1st jan.
BIOGEN INC. -0.17% 291.41 Delayed Quote.21.67%
MORGAN STANLEY 1.32% 91.08 Delayed Quote.-7.39%
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