Healthcare stocks declined late Wednesday afternoon, with the NYSE Healthcare Index falling 1% and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.9%.
The iShares Biotechnology ETF (IBB) decreased 0.5%.
In corporate news, Eli Lilly (LLY) said Wednesday that a real-world study showed sustained use of its weight-management drug Zepbound was associated with lower healthcare costs among adults older than 55 with overweight or obesity, compared with similar untreated adults. Lilly shares were down 3.3%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.