Health-care companies rose amid deal activity.
Novo Holdings, the controlling shareholder of Danish obesity-drug maker Novo Nordisk, agreed to buy Catalent in a deal that values the provider of contract drug-manufacturing services at $16.5 billion, including debt. Shares of Novo Nordisk rallied, as investors bet the Merck struck a deal to buy Elanco Animal Health's aqua business in a deal that expands the drugmaker's animal-health business.
A Johnson & Johnson employee has accused the company of mismanaging its workers' prescription-drug benefits, a new tack in efforts to hold employers accountable for high medicine costs.
Cano Health has filed for bankruptcy with a restructuring deal that would help the physician group and medical-center operator reduce debt and solicit potential offers.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
02-05-24 1826ET
