Health-care companies rose amid deal intrigue.

Shares of Cigna surged as investors breathed a sigh of relief following its decision to scrap a bid for rival Humana, citing regulatory opposition to the deal.

Investors had been skeptical about the chances a merger of two of the nation's largest health insurers in the Medicare and Medicaid spaces would pass muster with antitrust regulators. Previous merger agreement between Cigna and Anthem had failed in 2015 amid regulatory opposition.

Australian drug supplier Sigma Healthcare agreed to merge with privately owned pharmacy operator CW Group, creating a listed company worth more than $5.79 billion.

Eli Lilly shares plunged after a new study showed patients who stopped taking the drugmaker's weight-loss drug Zepbound slowly regained weight over a year.


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

(END) Dow Jones Newswires

12-11-23 1728ET