03:56 PM EDT, 03/14/2024 (MT Newswires) -- Health care stocks fell late Thursday afternoon with the NYSE Health Care Index shedding 0.7% and the Health Care Select Sector SPDR Fund (XLV) down 0.4%.

The iShares Biotechnology ETF (IBB) declined 1.9%.

In corporate news, First Wave BioPharma ( FWBI ) shares plunged 20% after the company said it bought ImmunogenX in an all-stock deal.

Grifols ( GRFS ) shares slid 9.4% after downgrades from Fitch Ratings and S&P Global Ratings.

Century Therapeutics ( IPSC ) shares fell 7.4% after the company reported a wider loss and lower revenue in 2023.

AstraZeneca ( AZN ) agreed to buy Amolyt Pharma for up to $1.05 billion, boosting its late-stage rare disease pipeline. AstraZeneca ( AZN ) shares fell 0.8%.