Stocks in the healthcare sector pull back amid quarter-end portfolio rebalancing and as investors rotate back to tech names.
Some companies in the sector are benefiting from advances in treatments for major depressive disorder. Biotech players including Helus PharmaTM, Definium Therapeutics, Compass Pathways, GH Reserach and Johnson & Johnson are exploring innovative approaches, attracting billions of dollars in investment.
U.S. officials are allowing Zyn to market itself as being less harmful than traditional cigarettes, making the product the first nicotine pouch on the market to be granted such a distinction. Zyn nicotine pouches, a product of Swedish Match USA, which is owned by Philip Morris International, are the most popular in the U.S.
Genmab shares rose after the Danish biotechnology company and partner AbbVie said a drug combination to treat lymphoma met the primary goal in a late-stage clinical trial.
Medicare will begin covering GLP-1 drugs specifically for weight loss for the first time starting Wednesday, July 1.
