Novo's Tough Month Key in Ending Health Stocks' Winning Streak

Stoxx 600 Health Care Index is on track to fall in September
Novo, Astra, Roche are the biggest laggards by index points

Novo Nordisk, AstraZeneca and Roche have contributed to roughly 90% of this month’s index declines, according to data compiled by Bloomberg.Photographer: Carsten Snejbjerg/Bloomberg

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By Lisa Pham

September 30, 2024 at 9:41 AM UTC

This article is for subscribers only.

European health-care stocks are set to snap their longest winning streak since March 2010, dragged down by concerns over Novo Nordisk A/S’s upcoming third-quarter results and experimental drug updates from AstraZeneca Plc and Roche Holding AG.

The Stoxx 600 Health Care Index is down 6.1% so far in September, set to end ten straight months of gains. Novo Nordisk, AstraZeneca and Roche have contributed to roughly 90% of this month’s index declines, according to data compiled by Bloomberg.