Health Care Stocks Climb On Drug News -- Health Care Roundup

Health-care company shares climbed amid positive news for drug makers.

The Food and Drug Administration approved Moderna's vaccine to protect against respiratory syncytial virus, a common virus that is among the leading causes of U.S. hospitalizations. The vaccine, which Moderna is calling Mresvia, is approved for adults 60 years and older.

Larimar Therapeutics shares rose after the company said the FDA has selected nomlabofusp to participate in the Support for Clinical Trials Advancing Rare Disease Therapeutics pilot program.

AstraZeneca's longest-serving chief executive, Pascal Soriot, has no plans to step down for now as the company tries to grab a slice of the booming weight-loss market and aims to almost double revenue by the end of the decade. Soriot fended off a bid by U.S. rival Pfizer in 2014, promising investors he could lead the company to better results on its own. Over the years, Soriot has faced speculation over his future at the helm of the company.

Write to Patrick Sullivan at [e-mail]

(END) Dow Jones Newswires

05-31-24 1717ET