Health-care companies fell as investors rotated out of the sector into more economically cyclical areas.

Shares of Pfizer declined after the drug giant, whose widely distributed vaccine has spurred interest among investors, forecast 2021 operating earnings short of some investors' expectations, even as they exceeded Wall Street targets.

Tessera Therapeutics, a biotechnology startup pioneering new types of genetic medicines, has raised more than $230 million in venture capital. 


 Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

01-12-21 1724ET