Health-Care Stocks Up After House OK’s Obamacare


Dow Jones Newswires
March 22, 2010

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Health-care stocks led the stock market higher Monday after the U.S. House Sunday approved a historic health-care overhaul designed to bring health insurance to 32 million more Americas while subjecting U.S. industries to a dramatically redrawn and newly regulated marketplace.

MARKET ACTION: U.S. stocks gained broadly, led by a surge in health-care stocks.

The Dow’s pharmaceutical components strengthened, as drug makers are expected to profit from the expansion of health-care coverage. Merck rose 2.3%, while Pfizer climbed 1.5%.

Hospital operator Tenet Healthcare rose 6.1%, while insurer Cigna gained 1.9% and Express Scripts, a pharmacy benefit manager, rose 2.1%. Pharmaceutical companies also climbed, with Eli Lilly up 1.3% and Bristol-Myers Squibb up 0.6%.

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