01:51 PM EDT, 07/15/2025 (MT Newswires) -- Health care stocks declined Tuesday afternoon with the NYSE Health Care Index dropping 1.6% and the Health Care Select Sector SPDR Fund (XLV) falling 1.4%.

The iShares Biotechnology ETF (IBB) dropped 1.6%.

In corporate news, MiMedx ( MDXG ) and Organogenesis ( ORGO ) shares each fell past 8% after the Centers for Medicare & Medicaid Services unveiled a new proposal that would cut spending on reimbursement of skin substitute products under Medicare.

UnitedHealth ( UNH ) increased its 2024 profit by $3.3 billion by selling stakes in certain business units to firms such as Warburg Pincus and KKR (KKR) shortly before year-end, Bloomberg reported. UnitedHealth ( UNH ) shares were falling more than 2%.

Iovance Biotherapeutics ( IOVA ) said it has appointed Corleen Roche as chief financial officer, effective Aug. 6. Its shares were down 7.2%.