01:55 PM EDT, 05/21/2024 (MT Newswires) -- Health care stocks were edging up Tuesday afternoon, with the NYSE Health Care Index rising 0.2% and the Health Care Select Sector SPDR Fund (XLV) fractionally higher.

The iShares Biotechnology ETF (IBB) fell 1%.

In corporate news, Senate Finance Committee Chair Ron Wyden is seeking information on Pfizer's ( PFE ) tax practices. In a letter sent Monday to Pfizer ( PFE ) Chief Executive Albert Bourla, Wyden asked how Pfizer ( PFE ) managed to book most of its profits offshore, despite the US market contributing significantly to its global revenue. Pfizer ( PFE ) shares were down 0.2% in recent trading.

Exscientia ( EXAI ) shares dropped 5.8% after the company said Tuesday that it expects to complete a headcount reduction of 20% to 25% by the end of this year.

Durect ( DRRX ) shares gained more than 12% as the company said Tuesday it obtained a breakthrough therapy designation from the US Food and Drug Administration for larsucosterol to treat people with severe alcohol-associated hepatitis.