Sector Update: Health Care Stocks Fall in Afternoon Trading

MT Newswires Live07-30

Health care stocks declined Tuesday afternoon, with the NYSE Health Care Index dropping 1.5% and the Health Care Select Sector SPDR Fund (XLV) down 0.5%.

The iShares Biotechnology ETF (IBB) shed 0.3%.

In corporate news, Novo Nordisk's (NVO) shares fell 21% after the company named a new chief executive and tempered its 2025 outlook amid market challenges hurting sales of its obesity and diabetes drugs.

Merck (MRK) shares declined 3.3% after the company announced a multiyear optimization program and posted lower Q2 results.

Atossa Therapeutics (ATOS) shares rose 12% after the company said the US Food and Drug Administration issued constructive, "positive" feedback for the company's proposed dose optimization trial of (Z)-endoxifen to treat breast cancer.

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