02:00 PM EST, 03/04/2025 (MT Newswires) -- Health care stocks declined Tuesday afternoon, with the NYSE Health Care Index down 0.6% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.4%.

The iShares Biotechnology ETF (IBB) rose less than 0.1%.

In corporate news, Walgreens Boots Alliance ( WBA ) is nearing the completion of a go-private deal with Sycamore Partners for around $10 billion, The Wall Street Journal reported late Monday. Walgreens shares jumped 7.3%.

UnitedHealth Group ( UNH ) shares rose 2.2% after a retired federal judge in her role as special master issued a recommendation favoring UnitedHealth ( UNH ) to the presiding federal judge in a lawsuit brought by the US Department of Justice, which accused the healthcare company of failing to return money it received via the Medicare Advantage program.

Acelyrin ( SLRN ) and Alumis ( ALMS ) reaffirmed Tuesday their commitment to merge in an all-stock deal, as Acelyrin ( SLRN ) said its board had determined that Concentra Biosciences' unsolicited indication of interest is "not reasonably expected to result in a superior proposal." Acelyrin ( SLRN ) shares fell 6.9% and Alumis ( ALMS ) rose 1.3%.