Health Care Advances as Obesity-Drug Bets Resume -- Health Care Roundup

Health-care companies ticked up as traders jumped back into bets on obesity-drug makers.

Shares of Novo Nordisk and Eli Lilly, companies that make the best-selling GLP-1 drugs, rose.

"There was a time when it was believed that if Pharma ever developed a cure for obesity they'd be able to print money," said J.D. Joyce, president of financial advisory Joyce Wealth Management. "And, lo and behold, here we are.

Bristol Myers Squibb declined after U.S. regulators delayed approval for the earlier use of one of its drugs.

Bayer shares fell sharply after the German drug and chemicals concern stopped a late-stage study for a cardiovascular drug early due to lack of efficacy and was ordered to pay $1.56 billion in a lawsuit relating to its Roundup weedkiller.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

11-20-23 1702ET