Health Care Flat As Traders Hedge On Growth View -- Health Care Roundup

07/21/2021 | 05:11pm

Health-care companies were flat as traders hedged their bets on the outlook for growth in the sector.

Shares of vaccine developer Moderna rose on its first session as a constituent of the Standard & Poor's 500. U.S. states unveiled a historic $26 billion settlement with the nation's three largest drug distributors, McKesson, AmerisourceBergen, and Cardinal Health along with drugmaker Johnson & Johnson to resolve thousands of opioid-crisis lawsuits, paving the way for communities across the country to secure a jolt of funding to address an epidemic in painkiller addiction that hasn't abated.

J&J posted higher sales and profit in the latest quarter, a sign people are returning for healthcare services they deferred earlier in the pandemic.

Cancer-drug startup Turnstone Biologics raised $80 million in new funding as venture-capital investment in oncology companies continues to climb.

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

(END) Dow Jones Newswires

07-21-21 1710ET

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