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Health Care Down As Risk Aversion Weighs On Biotech -- Health Care Roundup

03/04/2021 | 05:17pm EDT

Health-care companies fell as investors fled risky niches such as biotechnology.

The iShares Nasdaq Biotechnology index exchange-traded fund, which tracks a basket of major biotech companies, retreated by more than 2%.

Mount Sinai's Icahn School of Medicine has leased 165,000 square feet of office space on the West Side in a deal that underscores the importance of hospitals and biotechnology to the economic growth of New York in the pandemic era, as reported earlier.

Swiss drug giant Novartis will help manufacture a Covid-19 vaccine that German rival CureVac is developing, the latest drugmaker tie-up aimed at accelerating production of shots.

In the U.S., Merck plans to support longtime rival Johnson & Johnson's vaccine production.

Italy blocked the export of AstraZeneca's Covid-19 vaccine to Australia, in a move coordinated with European Union authorities, reflecting mounting frustration in Europe with slow deliveries of vaccines.

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

(END) Dow Jones Newswires

03-04-21 1716ET

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