Jun. 27 at 2:15 AM
Healthcare stocks attracted strong investor demand this week as money rotated out of technology shares, pushing AbbVie, Eli Lilly and Johnson & Johnson to record closing highs. The sector benefited from its defensive characteristics and confidence in the long-term growth prospects of leading pharmaceutical companies.
AbbVie's shares received an additional boost after the company announced plans to acquire Apogee Therapeutics, strengthening its drug development pipeline. According to RBC Capital Markets, AbbVie, Eli Lilly and Johnson & Johnson have largely avoided the operational setbacks that forced several competitors to restructure, while making strategic acquisitions that enhance future growth opportunities.
Other biopharmaceutical companies, including Regeneron, Sanofi, Moderna and Absci, also advanced, lifting healthcare-focused ETFs as investors sought stability amid weakness in technology stocks and growing uncertainty around AI-related valuations.
$ABBV $APGE $REGN $SNY $LLY