South Africa Stocks Gain as Life Healthcare Surges on Biogen Win
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South Africa’s main equities gauge advanced 0.1% by 9:45 a.m. in Johannesburg as Life Healthcare Group Holdings soared after the U.S. Food and Drugs Administration approved Biogen’s Alzheimer’s drug.
The FDA approval makes Biogen the first new Alzheimer’s drug in almost 20 years. Life Healthcare rose as much as 18% to the highest level since April 2019.