Health-care companies rose sharply as traders chased gains in one of the year's leading sectors.

Big pharma company Merck is making a big bet that its new drug, approved Tuesday in the U.S. for a potentially fatal lung disease, will take the company a long way toward heading off a massive revenue decline later this decade.

Shares of Syros Pharmaceuticals fell after the company recorded a wider loss in the fourth quarter than analysts had been expecting.


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

(END) Dow Jones Newswires

03-28-24 1728ET