Health-care companies slipped after reports of an inquiry into the business practices of the largest U.S. health insurer by enrollees.
UnitedHealth Group slid after The Wall Street Journal reported that the Department of Justice was probing the insurance giant's Medicare billing practices. The company, which had already faced a public backlash over its coverage practices, strongly disputed the report.
Among rivals, shares of health insurer Humana and pharmaceutical middle man CVS fell in sympathy.
Novo Nordisk shares rose after the U.S. Food and Drug Administration indicated a shortage of the Danish obesity-drug maker's Wegovy and Ozempic drugs had eased.
Shares of online pharmacy Hims & Hers, which had advertised an Ozempic substitute, plunged in the wake of the report.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
February 21, 2025 18:03 ET (23:03 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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