Health-care companies rose, but not by as much as the broad market, as traders rotated into sectors with more to gain from an easing of inflation and interest rates.
British drugmaker AstraZeneca is jumping into the increasingly crowded race to bring an effective weight-loss pill to market, amid stratospheric projections for the potential size of the market for Glucagon-like Peptide 1 drugs. Novo Nordisk and Eli Lilly, two of the firms that currently make those drugs, slipped, moderating year-to-date gains.
Walgreens Boots Alliance will have its employees pick and pack items for same-day delivery at its 8,700 bricks-and-mortar stores rather than managing separate distribution networks for e-commerce and in-store sales.
Janux Therapeutics shares surged after investment firm Avalon Ventures boosted its stake in the biotech concern.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-14-23 1801ET
