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High court ruling benefits most health care niches
TRENTON, N.J. (AP) - The Supreme Court's decision Thursday to uphold President Barack Obama's historic overhaul is expected to be a boom to most of the health care industry by making coverage affordable for millions of uninsured Americans.
But not every company will benefit. Drugmakers, biotech companies, hospitals and insurers likely will get additional customers because the law requires nearly everyone to have health insurance or pay a fine.
That's expected to bring coverage to about 30 million more Americans.
Medical device makers, meanwhile, will be hit with a sizable tax on their sales imposed under the overhaul law, without expectations of boosting sales sharply.
On the news, hospital stocks rising and shares falling sharply for insurers and but only slightly for drugmakers and device makers.