01:56 PM EDT, 10/30/2024 (MT Newswires) -- Health care stocks were lower Wednesday afternoon, with the NYSE Health Care Index shedding 0.8% and the Health Care Select Sector SPDR Fund (XLV) down 0.6%.

The iShares Biotechnology ETF (IBB) rose 0.1%.

In corporate news, Eli Lilly's ( LLY ) Q3 results rose year over year but missed Wall Street expectations while the drugmaker cut its full-year earnings outlook amid acquisition-related charges. Its shares tumbled nearly 9%.

AbbVie ( ABBV ) lifted its full-year outlook on Wednesday as it recorded better-than-expected Q3 results amid robust sales of its Skyrizi and Rinvoq immunology drugs. The shares jumped 5.7%.

AstraZeneca ( AZN ) shares fell 3.2%. The company said Wednesday that AstraZeneca China President Leon Wang is under investigation and cooperating with a probe by Chinese authorities.