03:29 PM EST, 12/27/2024 (MT Newswires) -- Health care stocks were declining late Friday afternoon, with the NYSE Health Care Index down 0.4% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.7%.

The iShares Biotechnology ETF (IBB) fell 1%.

In corporate news, Novartis ( NVS ) must face certain claims alleging it provided kickbacks to physicians for prescribing Gilenya, its drug that treats multiple sclerosis, the US Court of Appeals for the Second Circuit ruled Friday. Novartis ( NVS ) shares shed 0.2%.