01:50 PM EST, 11/20/2025 (MT Newswires) -- Health care stocks declined Thursday afternoon with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each falling 0.6%.

The iShares Biotechnology ETF (IBB) dropped 0.4%.

In corporate news, Abbott Laboratories ( ABT ) agreed to buy cancer screening and diagnostics provider Exact Sciences ( EXAS ) for $21 billion. Abbott shares fell 1.7%, and Exact Sciences ( EXAS ) jumped 17%.

Moderna ( MRNA ) expects up to 10% revenue growth next year. Chief Executive Officer Stephane Bancel said the company will reduce its research and development investments and "diversify further into oncology." Separately, Moderna ( MRNA ) closed a five-year term loan facility of up to $1.5 billion from Ares Management (ARES) funds. Moderna ( MRNA ) shares fell 5.3%.

Merck ( MRK ) completed negotiations with the Canadian Pharmaceutical Alliance, bringing its pulmonary arterial hypertension treatment Winrevair closer to public reimbursement. Merck ( MRK ) shares fell 0.6%.