01:40 PM EDT, 06/13/2024 (MT Newswires) -- Health care stocks were declining Thursday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each decreasing about 0.5%.

The iShares Biotechnology ETF (IBB) fell 0.6%.

In corporate news, Vanda Pharmaceuticals ( VNDA ) shares surged 10% after the company said that it received a revised unsolicited acquisition proposal of $8.50 to $9.00 per share in cash, plus certain contingent value rights, from Future Pak.