Health Care Up As Investors Rotate Back Into Biotech — Health Care Roundup – Morningstar.com

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Health-care companies rose as investors rotated back into growth areas such as biotechnology and out of value sectors, like materials and financials.

Moderna said its Covid-19 vaccine appeared to protect against emerging variants of the coronavirus in laboratory tests, but as a precaution it would test whether a booster shot improves immune responses and develop a new vaccine targeting the strain first identified in South Africa. Merck said it’s halting development of its two experimental Covid-19 vaccines, after early clinical-trial data showed the shots generated disappointing immune responses against the virus. Rivals such as Pfizer and AstraZeneca have already launched vaccines.

The European Union said AstraZeneca’s response to inquiries about the relatively slow rollout of its shots in the region was unsatisfactory.

 Write to Rob Curran at rob.curran@dowjones.com 

(END) Dow Jones Newswires

January 25, 2021 17:11 ET (22:11 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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