Healthcare stocks fade as obesity-drug optimism fades
By Dow Jones Newswires
Healthcare companies fell sharply Monday as ebullience about a new class of weight control drugs subsided.
Viking Therapeutics shares (VKTX) gave back some of their recent gains amid skepticism about the biotech firm's attempt to compete with heavyweights such as Novo Nordisk on obesity drugs. Novo Nordisk (NVO) fell, shaving its gains for the year to date to around 25%.
Shares of Eiger BioPharmaceuticals (EIGR) plunged after the drug developer filed for chapter 11 bankruptcy with a deal in hand to sell its Zokinvy drug.
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
04-01-24 2059ET
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