Health-care companies fell as traders rotated out of high-risk niches such as obesity drug makers.
Novo Nordisk and Eli Lilly, the two leading makers of popular GLP-1 drugs, fell by 2.5% or more ahead of Friday's jobs data, eating into hefty year-to-date gains. A slowdown in U.S. economic activity could weigh on sales for the products.
Chinese authorities have detained several employees of British-Swedish drugmaker AstraZeneca on suspicion of bringing an unapproved cancer drug into the country, people familiar with the matter said.
Lykos Therapeutics said Amy Emerson is leaving her role as CEO. The drug company had its application for psychotherapy with midomafetamine, also known as MDMA or Ecstasy, rejected by the Food and Drug Administration last month.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
09-05-24 1719ET