Johnson & Johnson Weighs on Pharmaceutical ETFs
May 29 2019 - 2:30PM
Dow Jones News
By Francesca Fontana
Johnson & Johnson (JNJ) is trading at the bottom of the Dow
Jones Industrial Average Wednesday after the first opioid trial
started Tuesday in Oklahoma City, weighing on exchange-traded funds
with high exposure to the pharmaceutical stock.
Among the ETFs trading lower are the iShares Evolved U.S.
Innovative Healthcare ETF (IEIH), Health Care Select Sector SPDR
Fund (XLV), and Vanguard Health Care ETF (VHT).
The BlackRock-issued IEIH tracks an index that offers U.S.
pharmaceutical and biotechnology exposure, according to ETF.com.
Its other top holdings include Merck & Co. Inc. (MRK) and
Pfizer Inc. (PFE) IEIH falls 1.6% to $24.17.
XLV, issued by State Street Global Advisors, tracks health care
stocks from within the S&P 500 Index, weighted by market cap,
according to ETF.com. Its other top holdings include UnitedHealth
Group Inc. (UNH) and Abbott Laboratories (ABT). XLV loses 1% to
$87.37.
VHT, issued by Vanguard, tracks the MSCI U.S. Investable Market
Health Care 25/50 Index, which includes health care stocks picked
from the top 98% of the total U.S. stock market capitalization,
according to ETF.com. Its other top holdings include AbbVie Inc.
(ABBV) and Pfizer Inc. VHT loses 0.9% to $163.92.
This week, the Oklahoma state attorney general's office is
seeking to hold Johnson & Johnson accountable for widespread
opioid addiction in a closely watched trial that started on
Tuesday. Johnson & Johnson is now the sole defendant in the
state's case after two other drug makers, Teva Pharmaceutical
Industries Ltd. (TEVA) and Purdue Pharma LP, settled. Johnson &
Johnson shares lose 5.9% to $129.07.
Write to Francesca Fontana at francesca.fontana@wsj.com
(END) Dow Jones Newswires
May 29, 2019 14:15 ET (18:15 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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