02:14 PM EDT, 07/18/2025 (MT Newswires) -- Health care stocks declined Friday afternoon with the NYSE Health Care Index dropping 0.5% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.7%.

The iShares Biotechnology ETF (IBB) fell 1.5%.

In corporate news, Sarepta Therapeutics ( SRPT ) shares tumbled 37%. The US Food and Drug Administration will ask the company to halt all shipments of Elevidys, its gene therapy for the treatment of Duchenne muscular dystrophy, Reuters reported. Bloomberg reported earlier that another person died from acute liver failure after receiving one of the company's gene therapies.

Humana (HUM) lost its bid to reverse cuts to its Medicare bonus payments after a Texas district court granted the government's motion to dismiss the case, Bloomberg reported. Humana shares fell 2.9%.

Elevance Health's (ELV) challenges in Medicaid and the Affordable Care Act marketplace are overshadowing its solid performance in the commercial and Carelon segments, UBS said, cutting its price target on the stock to $435 from $484. Elevance shares dropped 7.2%.