Health-care companies rose after a jump in the price of one bellwether.
Shares of biotech giant Biogen surged by roughly 40% after lecanemab, an Alzheimer’s drug candidate it’s developing with Japanese rival Eisai, slowed the disease’s progression in patients in a clinical trial.
“This result is clinically significant and should lead to full approval,” said analysts at brokerage Morgan Stanley, in a note to clients.
Johnson & Johnson named the new standalone company housing popular consumer health brands — including Band-Aid bandages and Tylenol medicines — Kenvue.
Write to Rob Curran at rob.curran@dowjones.com
Source: marketwatch.com
