Health-Care Earnings Top S&P 500 on Strong Drug, Hospital Demand

The largest American public health-care companies outperformed other industries in the third quarter, as higher new and specialty drug use, continued demand for weight-loss drugs and strong hospital visit trends boosted earnings.

Among the 11 industry categories on the S&P 500, health-care companies delivered the highest percentage of earnings beats in the period. It was also the best-performing quarter in more than four years for the industry.