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Health Care Edges Higher Amid Cyclical Bias -- Health Care Roundup

11/24/2020 | 04:57pm

Health-care companies rose, but not by as much as the broad market, after reports that the Trump administration was cooperating with the transition to the Biden administration spurred demand for more cyclical sectors.

Shares of health insurers, who often administer government plans, such as Cigna, were higher.

The European Union struck a deal with biotech Moderna for the supply of up to 160 million doses of its experimental Covid-19 vaccine, the head of the European Commission said.

Closely held opioid-drug maker Purdue Pharma pleaded guilty to three federal felonies related to the marketing and distribution of its powerful painkiller OxyContin, ending the bankrupt company's exposure to U.S. government action but leaving other liabilities to state and local governments looming.

The death rate from Covid-19 is falling in the U.S., according to infectious-disease experts and biostatisticians, a signal of advancements in treatment of the disease

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

(END) Dow Jones Newswires

11-24-20 1656ET

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