01:38 PM EDT, 05/01/2025 (MT Newswires) -- Health care stocks declined Thursday afternoon with the NYSE Health Care Index falling 2.2% and the Health Care Select Sector SPDR Fund (XLV) down 2%.

The iShares Biotechnology ETF (IBB) fell 0.9%.

In corporate news, Eli Lilly ( LLY ) slashed its full-year earnings outlook due to acquisition-related charges, while Q1 results surpassed market expectations. The shares slumped 10%.