01:54 PM EST, 03/06/2025 (MT Newswires) -- Health care stocks declined Thursday afternoon with the NYSE Health Care Index shedding 0.7% and the Health Care Select Sector SPDR Fund (XLV) falling 1.2%.

The iShares Biotechnology ETF (IBB) dropped 1%.

In corporate news, Novo Nordisk ( NVO ) Chief Executive Officer Lars Fruergaard Jorgensen said the company will feel the impact of President Donald Trump's threatened tariffs despite its investments in the US, according to media reports. Novo shares declined 3.4%.

Plus Therapeutics ( PSTV ) shares surged 98% after it said Thursday that its Rhenium obisbemeda radiotherapy has been granted orphan drug designation by the US Food and Drug Administration for treating leptomeningeal metastases in lung cancer patients.

BridgeBio Pharma ( BBIO ) shares were falling past 6% after KKR Genetic Disorder disclosed the sale of 6 million BridgeBio shares in a regulatory filing.