Health-care companies fell amid concerns about a slowdown in drug makers' research-and-development activity.

Shares of Fortrea slid after the contract drug research firm cut its outlook for the year on weaker-than-expected revenue. That echoed warnings from another provider of clinical-research services, Charles River Laboratories, which indicates that Big Pharma companies are reining in their research spending.

Eli Lilly shares slipped, but not by as much as the sector at large, after analysts at brokerage Deutsche Bank boosted their rating on the maker of anti-obesity drugs.


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

(END) Dow Jones Newswires

08-12-24 1739ET