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Health Care Up Amid Cyclical Bias — Health Care Roundup

Health-care companies rose, but not by as much as the broad market, as traders rotated back into cyclical sectors.

The true tally of Covid-19 deaths in India following a devastating spring surge is likely close to 10 times higher than the country's official count, marking the pandemic as one of the worst tragedies to ever hit the South Asian nation, according to a new study.

During the peak of the Indian outbreak in April and May, hospitals across the populous nation were forced to turn people away, and they often died at home, without ever being untested, according to the study, which was released by a former economic adviser to the Indian government, and researchers at Harvard University and the Center for Global Development.

The nation's three largest drug distributors, McKesson, AmerisourceBergen and Cardinal Health agreed to pay as much as $1.2 billion to New York state to settle a continuing trial accusing the companies of helping fuel widespread opioid addiction, as negotiators close in on a larger, national resolution of thousands of similar lawsuits.

Health-care conglomerate Johnson & Johnson has engaged law firm Jones Day to advise the company as it explores placing a subsidiary in bankruptcy to help settle thousands of personal injury claims linking talcum-based baby powder to cancer, The Wall Street Journal reported.

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

(END) Dow Jones Newswires

July 20, 2021 17:28 ET (21:28 GMT)

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