02:04 PM EDT, 03/14/2024 (MT Newswires) -- Health care stocks were lower Thursday afternoon, with the NYSE Health Care Index down 0.6% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.7%.

The iShares Biotechnology ETF (IBB) fell 1.8%.

In corporate news, AstraZeneca ( AZN ) on Thursday announced a deal to buy Amolyt Pharma for up to $1.05 billion, boosting its late-stage rare disease pipeline. AstraZeneca ( AZN ) shares were declining about 1%.

Better Therapeutics ( BTTX ) tumbled 82% after the company said it's terminating its employees and will explore strategic alternatives.

Spruce Biosciences ( SPRB ) fell 81% after it said late Wednesday that top-line results from a study of tildacerfont in adult classic congenital adrenal hyperplasia with severe hyperandrogenemia did not meet the primary efficacy endpoint.