Health Care Up on Defensive Hedges — Health Care Roundup

Health-care companies rose as traders bet the sector would see an up-tick in growth.

Pharmaceutical industry giants, including drug makers Teva and Allergan, and pharmacy chains CVS and Walgreen, completed a deal to pay $19 billion to states that accused them of fueling the opioid crisis, infusing more money into communities still struggling with how to address the scourge of drug use.

The agreement is in addition to a $26 billion so-called global settlement with drug distributors McKesson, Cardinal Health and AmerisourceBergen and manufacturer Johnson & Johnson.

The panel meeting where advisors to the FDA will make a recommendation on Biogen and Eisai’s Alzheimer’s drug Leqembi appears to be going well, Salim Syed and Erik Lavington, analysts at Mizuho, say in a research note.

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

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