Morning Briefing
Summaries of health policy coverage from major news organizations
Money Managers Betting On Stability, Success Of Health Care Stocks
The Wall Street Journal: Health-Care Stocks Lead This Leg Of Rally, After Tech Giants’ Stumbles
Health-care stocks have emerged as market leaders in the third quarter, helping push major U.S. indexes to new highs. One reason: money managers are embracing the sector as a safety play, particularly after big technology stocks stumbled in September. (Wursthorn, 9/25)
In other news from the industry —
The Wall Street Journal: TPG In Exclusive Talks To Take Over Abraaj’s $1 Billion Health-Care Fund
U.S. private-equity firm TPG is in exclusive talks to take over Abraaj Group’s $1 billion health-care fund, according to a letter to employees of the fund. Abraaj was the largest private-equity firm in the Middle East with almost $14 billion of assets until it filed for provisional liquidation in June. The Dubai-based firm is selling assets and winding down operations. It got into difficulty in 2017 after investors in its health-care fund, including the Bill & Melinda Gates Foundation and the World Bank, started investigating whether their money was being mismanaged. (Clark and Louch, 9/24)
Bloomberg: J&J Talc Cancer Case Ends In Mistrial With Divided Jury
Johnson & Johnson’s latest trial over claims that its baby powder causes cancer ended in a stalemate when jurors couldn’t agree on a verdict. A state judge in Pasadena, California, declared a mistrial Monday after jurors deadlocked on Carolyn Weirick’s request for at least $25 million in damages over her mesothelioma, a cancer linked to asbestos exposure. Weirick said she developed the disease from asbestos-laced baby powder. (Feeley, Fisk and Favot, 9/24)
