01:48 PM EDT, 09/25/2024 (MT Newswires) -- Health care stocks were declining Wednesday afternoon, with the NYSE Health Care Index down 0.5% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.9%.

The iShares Biotechnology ETF (IBB) fell 1.3%.

In corporate news, Biogen (BIIB) was sued by the city of Baltimore for allegedly engaging in an "unlawful scheme" to reduce competition from generic versions of its brand-name drug Tecfidera for multiple sclerosis. Its shares fell nearly 2%.