01:08 PM EDT, 07/29/2025 (MT Newswires) -- Health care stocks declined Tuesday afternoon, with the NYSE Health Care Index falling 1.6% and the Health Care Select Sector SPDR Fund (XLV) down 0.4%.

The iShares Biotechnology ETF (IBB) shed 0.3%.

In corporate news, Novo Nordisk's ( NVO ) shares fell past 20% after it named a new chief executive and tempered its 2025 outlook amid market challenges hurting sales of its obesity and diabetes drugs.