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Health-care companies rose as upward momentum built in defensive sectors.
The Health Care Select Sector SPDR exchange-traded fund, which tracks the health-care industry group of the S&P 500, pared its losses for the year to date to roughly 2%, compared with a near 20% selloff for the broad S&P 500.
Defensive sectors, including health care, surpassed the performance of the S&P 500 by one of the largest margins in recent history.
Hoth Therapeutics rallied after the Food and Drug Administration accepted an application to commercialize a treatment for a cancer-related skin condition.
The FDA “inappropriately” collaborated with Biogen before approving its Alzheimer’s treatment, Aduhelm, in 2021, a new report from House Democrats concluded, in a probe that could influence how FDA reviews work going forward.
The Justice Department sued drug wholesaler AmerisourceBergen, alleging it contributed to the prescription opioid epidemic by failing to report suspicious orders.
Write to Rob Curran at rob.curran@dowjones.com
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