01:38 PM EDT, 03/25/2025 (MT Newswires) -- Health care stocks were falling Tuesday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each dropping 1.1%.

The iShares Biotechnology ETF (IBB) fell 1.4%.

In corporate news, Merck ( MRK ) secured exclusive global rights to develop and sell China-based Jiangsu Hengrui Pharmaceuticals' heart disease drug in a deal worth up to about $2 billion. Merck ( MRK ) shares were down 4.1%.