Health-care companies fell as traders fled high-risk niches such as biotechnology and obesity-drug makers.
Eli Lilly shares slipped after it agreed to acquire Verve Therapeutics for about $1 billion up front, adding a potential treatment for cardiovascular disease to its portfolio. Shares of Verve leapt as the deal represented a substantial premium to its market price. The iShares Nasdaq Biotechnology index exchange-traded fund, a basket of biotech firms, fell by almost 2%.
Sarepta Therapeutics recouped a modicum of its losses associated with the revelation of more deaths associated with its Elevidys gene therapy for muscular dystrophy.
Diaylsis-technology maker Fresenius Medical Care could end up benefiting from blockbuster obesity drugs, according to its chief executive, contrary to concerns that such treatments could deplete demand for its goods and services.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-17-25 1754ET
