Health-care companies rose after strong earnings from one major drug maker.
Novo Nordisk shares rose sharply after the Danish obesity-drug maker posted fourth-quarter Ozempic sales of $4.71 billion, making it one of the most valuable drug franchises on record.
Still, the drugmaker called for "continued periodic supply constraints and related drug shortage notifications" in 2025, quelling investor enthusiasm.
Kenvue shares were more or less flat after activist investment firm Starboard Value launched a proxy fight, running a slate of four nominees for the Tylenol maker's board.
Representatives of Elon Musk's Department of Government Efficiency have been working at the Centers for Medicare and Medicaid Services, where they have gotten access to key payment and contracting systems.
Merck compounded recent losses after The Wall Street Journal reported its reliance on blockbuster drug Keytruda for growth could generate problems similar to those Pfizer experienced on the stock market after its lucrative Covid-19 vaccine sales tapered off.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
February 05, 2025 17:10 ET (22:10 GMT)
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