12:22 PM EDT, 07/03/2024 (MT Newswires) -- Health care stocks were declining Wednesday afternoon, with the NYSE Health Care Index falling 1.1% and the Health Care Select Sector SPDR Fund (XLV) down 1%.

The iShares Biotechnology ETF (IBB) was shedding 0.7%.

In corporate news, GSK (GSK) will buy the rights to candidate vaccines for seasonal influenza, Covid-19 and avian influenza from CureVac ( CVAC ) for up to 1.45 billion euros ($1.56 billion) as the UK pharmaceutical company seeks to expand its mRNA vaccine portfolio. CureVac ( CVAC ) shares lost 3.7% while GSK added 0.4%.