Health-care companies were flat amid setbacks in some closely followed clinical trials.
Shares of Amylyx Pharmaceuticals lost four-fifths of their value after the company said its ALS treatment, Relyvrio, failed to show efficacy in a late-stage trial and that it may voluntarily withdraw the drug from the market.
Eli Lilly shares fell after the drug maker said the Food and Drug Administration would hold an advisory committee meeting on its proposed Alzheimer's disease drug, donanemab, likely delaying a decision on whether to approve the drug for the memory-robbing brain disorder.
Opioid-drug maker Endo International's restructuring plan offers creditors a choice to continue legal battles against the opioid maker and related parties -- an option not available in other recent bankruptcy plans that have faced legal challenges for taking away the right to sue.
Rite Aid, the drugstore chain that filed for bankruptcy late last year to seek relief from mass opioid-related lawsuits, is delaying severance payments to employees who were laid off, according to an internal email reviewed by The Wall Street Journal.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-08-24 1748ET
