01:39 PM EDT, 03/19/2025 (MT Newswires) -- Health care stocks declined Wednesday afternoon, with the NYSE Health Care Index down 0.6% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.5%.

The iShares Biotechnology ETF (IBB) fell 0.4%.

In corporate news, UnitedHealth Group's ( UNH ) Optum Rx unit said Wednesday that it's eliminating as much as 25% of prescription drug reauthorizations, or more than 10% of previous pharmacy authorizations. UnitedHealth ( UNH ) shares were down 0.3%.