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Sector Update: Health Care Stocks Decline Tuesday Afternoon
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Sector Update: Health Care Stocks Decline Tuesday Afternoon
Jun 11, 2024 11:24 AM

02:08 PM EDT, 06/11/2024 (MT Newswires) -- Health care stocks were lower Tuesday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each shedding about 0.6%.

The iShares Biotechnology ETF (IBB) fell about 0.2%.

In corporate news, US Sen. Bernie Sanders, chairman of the Senate Committee on Health, Education, Labor, and Pensions, said the committee will vote on June 18 to subpoena the president of Novo Nordisk Inc., Doug Langa, to provide testimony about prices of diabetes and weight-loss drugs Ozempic and Wegovy in the US. Novo shares were falling 1.1%.

A US Food and Drug Administration advisory panel voted unanimously late Monday to recommend approval of Eli Lilly's ( LLY ) Alzheimer's drug donanemab, according to a video transcript of the meeting. Eli Lilly ( LLY ) shares were down 0.5%.

Capricor Therapeutics ( CAPR ) gained 3.7% after the company said Tuesday the US Food and Drug Administration has agreed to a pre-biologics license application meeting over its CAP-1002 treatment candidate for Duchenne muscular dystrophy.

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