Shares of health-care companies rose as deal activity lured investors back into the biotech sub sector. In the latest sign that Big Pharma is optimistic about the prospects of immunotherapy cancer treatments, Eli Lilly agreed to buy ARMO BioSciences for $1.6 billion. Among other companies active in the immunotherapy niche, Bristol Myers Squibb and Merck saw shares tick up.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

May 10, 2018 16:48 ET (20:48 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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