03:57 PM EDT, 06/27/2025 (MT Newswires) -- Health care stocks were slipping late Friday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each declining about 0.3%.

The iShares Biotechnology ETF (IBB) fell 0.6%.

In sector news, the US Supreme Court overturned a lower court's ruling that challenged the legitimacy of the US Preventive Services Task Force under the Affordable Care Act. The decision preserves a critical provision requiring insurers to cover preventive services, such as cancer screenings, at no cost to patients.

In corporate news, Achieve Life Sciences ( ACHV ) shares tumbled 35% after it priced a $45 million securities offering.

Sen. Maggie Hassan (D-N.H.) said she is opening an investigation into GSK's (GSK) decision to discontinue a widely used asthma inhaler for children, Reuters reported, citing a letter sent by the senator to the company. GSK shares were fractionally lower.

BioCryst Pharmaceuticals ( BCRX ) shares were down 2.7% after the company said it has agreed to sell its European Orladeyo business to Neopharmed Gentili for up to $264 million.