Money is flooding into exchange- traded funds focused on health care at the fastest rate in at least six years, driven by booming biotechnology and pharmaceutical sectors bringing new products to market.
The number of Americans with hepatitis C fell 16 percent to 2.7 million over almost a decade, a government survey found, just as new, more effective treatments for the chronic liver disease reach the market.
Teva Pharmaceutical Industries Ltd., the world’s largest maker of generic drugs, posted the biggest weekly gain since 2008 as a surge in health-care industry deals spurred speculation the company may be acquired.
In 1785, the caricaturist Henry William Bunbury declared strong drink, aided by a demon, as the cause of the painful inflammatory disease known as gout. Two hundred years later, AstraZeneca Plc may be on the verge of winning approval for a more effective treatment for the malady.
U.S. stocks rose, giving benchmark indexes the biggest four-day rally in more than a year, as comments by Federal Reserve Chairman Janet Yellen fueled bets the economy is strong enough to weather further stimulus cuts.