02:00 PM EDT, 09/12/2025 (MT Newswires) -- Health care stocks declined Friday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each down 0.8%.

The iShares Biotechnology ETF (IBB) fell 1.7%.

In corporate news, AstraZeneca ( AZN ) has paused a planned 200 million pound ($271.3 million) investment in its Cambridge research hub, a project first announced in March 2024 that was expected to create 1,000 jobs, Reuters reported. AstraZeneca ( AZN ) shares fell 2%.

Sangamo Therapeutics ( SGMO ) shares dropped 4.7%. The company said Prathyusha Duraibabu will resign from her role as chief financial officer, effective Oct. 1, to assume a senior leadership position with a privately held AI company.

Kenvue ( KVUE ) interim Chief Executive Kirk Perry held a private meeting with Health and Human Services Secretary Robert F. Kennedy Jr. in which he sought to dissuade him from citing Tylenol as a potential cause of autism, The Wall Street Journal reported. Kenvue ( KVUE ) shares rose 2%.

Arrowhead Pharmaceuticals ( ARWR ) said Thursday it filed a complaint for declaratory judgment against Ionis Pharmaceuticals ( IONS ) to defend its potential familial chylomicronemia treatment plozasiran against Ionis' patent infringement allegations. Arrowhead shares rose 2.4% and Ionis was down 1.2%.