Health-care companies rose as investors rotated into defensive sectors amid worries about the pace of the economic recovery.
Johnson & Johnson shares rose after the health-care conglomerate posted first-quarter profit ahead of some investors' expectations, even as its vaccine sales outlook was complicated by pauses in vaccinations while health authorities in several countries probe safety concerns.
J&J rival Pfizer is likely to generate $24 billion in sales from its Covid-19 vaccine this year, with Moderna, another vaccine maker, likely to generate $14 billion in sales from its own shot, according to analysts at brokerage Bernstein.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-20-21 1752ET
