Health-care companies rose as reported cases of bird flu in Australia and the U.S. buoyed vaccine makers.

Shares of CureVac, BioNTech and Moderna rose by 10% or more after new human bird-flu cases were reported.

Pfizer launched a multi-year cost reduction program expected to include operational efficiencies, network structure changes, and other initiatives, following similar moves from Bristol Myers Squibb.

GSK's experimental drug for asthma met its goals in the latest trial, moving a treatment with potential annual peak sales of more than $3.81 billion closer to market.

Biotechnology startup AltruBio has secured fresh capital to develop a drug for ulcerative colitis as drugmakers compete to develop the next blockbuster therapy for this and other inflammatory diseases.

Write to Rob Curran at

(END) Dow Jones Newswires

05-22-24 1728ET