Health-care companies fell, but not by as much as the broad market, as traders rotated out of cyclical sectors into defensive ones.
Pfizer's new Covid-19 pill Paxlovid was effective against the Omicron variant in laboratory tests, an encouraging sign because of the variant's apparent resistance to vaccines.
Gilead Sciences said that a network of little-known drug suppliers and distributors sold illicit and potentially dangerous fake versions of its HIV medicines that ended up in pharmacies and in the hands of patients.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-18-22 1657ET
