03:31 PM EDT, 09/05/2024 (MT Newswires) -- Health care stocks were falling late Thursday afternoon, with the NYSE Health Care Index dropping 1.4% and the Health Care Select Sector SPDR Fund (XLV) falling 1.5%.

The iShares Biotechnology ETF (IBB) was shedding 0.6%.

In corporate news, McKesson (MCK) shares tumbled 11% after the company said at a health care conference that it expects fiscal Q2 adjusted earnings of $6.70 to $7 per diluted share. Three analysts polled by Capital IQ expect $7.03. Separately, McKesson signed an agreement to sell its Canada-based Rexall and Well.ca businesses to Birch Hill Equity Partners.