03:31 PM EDT, 06/26/2024 (MT Newswires) -- Health care stocks fell late Wednesday afternoon, with the NYSE Health Care Index losing 0.4% and the Health Care Select Sector SPDR Fund (XLV) down 0.3%.

The iShares Biotechnology ETF (IBB) fell 1.2%.

In regulatory news, the US Health and Human Services Department said some Medicare enrollees will pay less for 64 prescription drugs available through Medicare Part B. Since each drug company raised prices faster than the rate of inflation, the drugs will have a lowered Part B coinsurance rate from July 1 to Sept. 30, HHS said.

In corporate news, the efficacy of Moderna's ( MRNA ) RSV vaccine drops sharply in the second year and is lower rival vaccines, according to the Centers for Disease Control and Prevention. Moderna ( MRNA ) shares slumped 10%.