01:37 PM EDT, 08/05/2025 (MT Newswires) -- Health care stocks were mixed Tuesday afternoon, with the NYSE Health Care Index up 0.3% and the Health Care Select Sector SPDR Fund (XLV) decreasing 0.3%.

The iShares Biotechnology ETF (IBB) fell 1%.

In sector news, President Donald Trump said he will unveil tariffs on semiconductors and pharmaceuticals "within the next week or so" and that import taxes on drugs could ultimately reach 250%, according to a report from The Wall Street Journal on Tuesday.

In corporate news, Pfizer ( PFE ) raised its full-year earnings outlook on Tuesday as it recorded stronger-than-expected Q2 results, buoyed by double-digit revenue growth in primary care and oncology segments. Its shares rose 4%.

Novo Nordisk's ( NVO ) equity story appears "very challenging" as GLP1 compounders are expected to remain in the US, limiting cash-pay uptakes and leaving an uncertain outlook for the company's Wegovy weight loss drug, UBS said in a note Tuesday. UBS downgraded the stock to neutral from buy and lowered its price target to 340 Danish kroner ($52.76) from 600 Danish kroner. Novo shares fell 3.1%.

Alcon ( ALC ) on Tuesday agreed to buy eye lens manufacturer STAAR Surgical ( STAA ) in a deal worth about $1.5 billion, as the eye care products company looks to expand its offerings to treat myopia, or nearsightedness. Alcon ( ALC ) shares were down 2.1%, while STAAR Surgical ( STAA ) shares surged 45%.