Health-care companies fell as traders retreated from the sector, in light of mixed earnings.

GE HealthCare Technologies rose after the health-care related spinoff of GE reported fourth-quarter adjusted earnings per share of $1.31 and operating income of $844 million from sales of just more than $4.9 billion.

A federal appeals court rejected Johnson & Johnson's plan to use a legal strategy to push about 38,000 talc lawsuits into bankruptcy court, hampering the controversial tactic the company and a handful of other profitable businesses have used to move mass personal-injury cases to chapter 11. Shares of J&J fell sharply.

Dutch health-care technology concern Royal Philips said it would cut an extra 6,000 jobs by 2025, including 3,000 this year, as part of a reorganization aimed at improving its performance, adding to a wave of corporate layoffs in recent weeks.


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

(END) Dow Jones Newswires

01-30-23 1701ET