03:25 PM EDT, 07/31/2025 (MT Newswires) -- Health care stocks fell late Thursday afternoon with the NYSE Health Care Index declining 2% and the Health Care Select Sector SPDR Fund (XLV) dropping 2.5%.

The iShares Biotechnology ETF (IBB) shed 0.7%.

In corporate news, AbbVie ( ABBV ) is in talks to buy Gilgamesh Pharmaceuticals in a deal that may value the psychedelics developer at about $1 billion, Bloomberg reported. AbbVie ( ABBV ) shares added 0.4%.