01:51 PM EDT, 05/20/2026 (MT Newswires) -- Healthcare stocks were lower Wednesday afternoon, with the NYSE Healthcare Index decreasing 0.3% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.2%.

The iShares Biotechnology ETF (IBB) rose 1.9%.

In corporate news, Medtronic ( MDT ) said Wednesday it is planning to acquire medical technology firm SPR Therapeutics for an upfront cash payment of about $650 million. Medtronic ( MDT ) shares were down 1%.

GSK (GSK) said Wednesday it has started negotiations with the pan-Canadian Pharmaceutical Alliance for the use of Blenrep to treat adults with relapsed or refractory multiple myeloma, a type of blood cancer. GSK shares were fractionally higher.

Immunovant ( IMVT ) shares surged 33% after it said Wednesday its cash and cash equivalents were about $902.1 million as of March 31, providing runway for announced indications through the potential commercial launch of IMVT-1402 in Graves' disease.