Health-care companies ticked up as traders sought out defensive sectors.

The SPDR Select Health Care exchange-traded fund, which tracks the health-care industry group of the S&P 500, rose 2% for the week, as investors sought out safe havens.

Germany's Merck KGaA said it's betting on artificial-intelligence partnerships to develop new drugs, but refraining from bringing in external expertise through acquisitions.

Biomea shares plunged after the Food and Drug Administration placed two of the company's diabetes treatment studies on hold, citing concerns of liver toxicity.


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

(END) Dow Jones Newswires

06-07-24 1724ET