01:59 PM EST, 01/14/2025 (MT Newswires) -- Health care stocks declined Tuesday afternoon with the NYSE Health Care Index falling 1.5% and the Health Care Select Sector SPDR Fund (XLV) dropping 1.1%.

The iShares Biotechnology ETF (IBB) shed 1.1%.

In corporate news, Eli Lilly ( LLY ) shares tumbled 6.5% after the company lowered Q4 and full-year revenue expectations amid slower-than-expected growth in its US incretin division.

Pfizer ( PFE ) Chief Executive Officer Albert Bourla said the company's dispute with activist investor Starboard Value is over issues "on the margins" of its business and is not "an aggressive situation," Bloomberg reported. Pfizer ( PFE ) shares fell 1.2%.

Illumina ( ILMN ) reported preliminary Q4 non-GAAP earnings of $0.91 to $0.93 per diluted share. Analysts polled by FactSet expect $0.91. The shares slumped 4.2%.