03:52 PM EDT, 08/06/2025 (MT Newswires) -- Health care stocks declined late Wednesday afternoon, with the NYSE Health Care Index down 1.7% and the Health Care Select Sector SPDR Fund (XLV) dropping 1.4%.

The iShares Biotechnology ETF (IBB) fell 1.7%.

In corporate news, the US Federal Trade Commission moved to prevent Edwards Lifesciences ( EW ) from acquiring JenaValve Technology, Edwards said. Edwards shares decreased 0.6%.

LifeMD ( LFMD ) shares tumbled 45% a day after it lowered its full-year 2025 revenue guidance.

Novartis ( NVS ) has approached Avidity Biosciences ( RNA ) and expressed interest in a potential takeover to boost its pipeline of therapies for rare genetic disorders, the Financial Times reported. Novartis ( NVS ) shares were falling 3.5%, while Avidity jumped 25%.

Novo Nordisk ( NVO ) shares dropped 4.4% after it lowered its 2025 sales growth guidance.