Health Care Down As Traders Hedge on Drug Prices -- Health Care Roundup
Health-care companies fell as traders hedged their bets on the outlook for drug prices. Shares of biopharmaceutical company Proteostasis Therapeutics rose sharply in the first trading session after money manager BlackRock disclosed a 5.9% stake in the biotech concern. The Food and Drug Administration said it sent letters to 17 nutritional supplement manufacturers alleging that the companies are illegally selling more than 58 products with the improper claims they can prevent, treat and cure serious diseases, including Alzheimer's.
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