Health-care companies rose amid optimism about health insurers' earnings.
Centene shares ticked up after the insurer lifted its guidance for the year buoyed by better medical cost control along with strength in its core government-sponsored and individual health-care offerings. Shares of rivals UnitedHealth Group and Cigna rallied. The health-insurance sub sector had fallen out of favor in recent quarters due to struggles with rising medical costs.
Health-care conglomerate Johnson & Johnson agreed to pay $5.5 billion to resolve remaining lawsuits that alleged the company's talc products caused ovarian cancer, with the goal of putting an end to litigation that has been going on for more than a decade.
The Trump administration plans to end a subsidy program that helped hold down premiums for Medicare drug plans, a move that could leave many seniors facing higher rates for their prescription coverage next year.
Write to Rob Curran at rob.curran@dowjones.com
