Health-care companies rose as traders rotated into defensive sectors, reflecting a moderation in risk appetite.
Mallinckrodt's stock fell by 40% Monday after the drugmaker said it was in talks with creditors about options including a second bankruptcy filing to fix its balance sheet and address a $200 million payment due this month under a previous chapter 11 restructuring.
Coherus BioSciences shares rose after reports that it had agreed to offer customers of Mark Cuban's low-cost drug company Yusimry, a biosimilar of Humira, in July, as reported earlier.
Humira maker AbbVie shares are down about 7% for the last month, partly because of the competitive threat from Yusimry.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-05-23 1713ET
