Healthcare companies sank as investors rotated into stocks with more to gain from a strong economy.
Johnson & Johnson raised its full-year sales and earnings outlook after revenue rose 5.6% in the first quarter, lifted by demand for everything from Tylenol to the company's pharmaceutical products and contact lenses.
Americans seeking messenger RNA vaccines for Covid-19 for the first time will get one, updated shot, targeting both the Omicron variant and the original strain of the virus under new moves rolled out by federal health officials.
GSK agreed to buy the late-stage biopharmaceutical company Bellus Health for $14.75 a share in cash, representing a total equity value of around $2.0 billion.
Regeneron Pharmaceuticals said its longtime chairman, P. Roy Vagelos, plans to retire in June, sending the stock lower.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
04-18-23 1747ET
