01:14 PM EDT, 07/09/2025 (MT Newswires) -- Health care stocks were lower Wednesday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each easing about 0.1%.

The iShares Biotechnology ETF (IBB) climbed 1.9%.

In corporate news, Merck ( MRK ) agreed to acquire UK-based Verona Pharma ( VRNA ) in a deal worth roughly $10 billion to expand its cardio-pulmonary disease treatment portfolio. Merck ( MRK ) shares rose 3.1%, and Verona jumped past 20%.