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Healthcare Shares Slip but Beat the Broader Market -- Health Care Roundup

06/16/2021 | 05:06pm EDT

Healthcare shares were lower but not by as much as the broader market.

An antibody treatment developed by Regeneron Pharmaceuticals has been shown to significantly cut the risk of death among certain hospitalized Covid-19 patients, raising hopes for a valuable new tool for tackling severe cases.

Meanwhile, the Food and Drug Administration cleared an additional batch of Johnson & Johnson Covid-19 vaccine doses Tuesday from a troubled production plant in Baltimore. The agency cleared 15 million doses, bringing the total doses authorized for export to 25 million, according to a senior U.S. official.

Some of Apple's initiatives aimed at broadly disrupting the healthcare sector have struggled to gain traction, according to people familiar with them and documents reviewed by The Wall Street Journal. Apple has envisioned an audacious plan for healthcare, offering its own primary-care medical service with Apple-employed doctors at its own clinics, according to people familiar with the plan and documents. Today, those ambitions, which aren't widely known, have largely stalled as Apple has shifted the focus of its health unit to something it knows well: selling devices, specifically the Apple Watch, according to people familiar with its strategy.

 Write to Amy Pessetto at amy.pessetto@dowjones.com 

(END) Dow Jones Newswires

06-16-21 1705ET

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