04:00 PM EDT, 04/07/2025 (MT Newswires) -- Health care stocks fell late Monday afternoon with the NYSE Health Care Index declining 1% and the Health Care Select Sector SPDR Fund (XLV) down 0.5%.

The iShares Biotechnology ETF (IBB) shed 0.7%.

In sector news, the Trump administration's "nonsensical tariffs" will sow long-term structural dislocation if implemented, Oppenheimer said in a note Monday. The firm said GE HealthCare Technologies (GEHC), Varex Imaging (VREX), Integer (ITGR), and Intuitive Surgical (ISRG) were among the businesses most exposed to tariffs.

In corporate news, Bausch Health ( BHC ) is expected to post Q1 revenue of $2.24 billion, trailing the $2.29 billion estimate of analysts polled by FactSet, RBC Capital Markets said. Bausch Health ( BHC ) shares fell 1.1%.

Qiagen ( QGEN ) shares gained 5.5% a day after reporting preliminary Q1 adjusted earnings of at least $0.55 per diluted share at constant exchange rates, beating its guidance of $0.50.

Eli Lilly ( LLY ) shares fell 2.1% after the Trump administration decided to delay a plan allowing Medicare to pay for obesity medications, which would have granted more people access to the company's weight-loss drug Zepbound.

Niagen Bioscience ( NAGE ) doesn't expect global tariffs to disrupt the manufacturing of food- and pharmaceutical-grade Niagen products or have an adverse impact on maintaining costs and pricing. Niagen shares dropped 6.5%.