03:58 PM EDT, 04/24/2024 (MT Newswires) -- Health care stocks fell late Wednesday afternoon with the NYSE Health Care Index down 0.4% and the Health Care Select Sector SPDR Fund (XLV) decreasing 0.2%.

The iShares Biotechnology ETF (IBB) eased 0.1%.

In corporate news, Novo Nordisk's ( NVO ) Wegovy may be available to more than 3 million people with Medicare after the drug gained approval from the US Food and Drug Administration for heart health, KFF said in a report. Novo Nordisk ( NVO ) shares fell 1.9%.

Moderna ( MRNA ) and OpenAI said Wednesday they will continue to collaborate to launch a new generation of medicines. The drugmaker and Microsoft-backed (MSFT) OpenAI started their collaboration in early 2023 with the launch of Moderna's ( MRNA ) own version of ChatGPT called mChat. Moderna ( MRNA ) shares gained 1.3%.

Biogen's (BIIB) Q1 earnings rose more than expected while revenue slipped below Wall Street's estimates as the drugmaker affirmed its financial guidance. The stock jumped 4.8%.

Humana (HUM) reported Q1 adjusted earnings of $7.23 per share, down from $9.38 a year earlier. Analysts polled by Capital IQ expected $6. Humana shares fell 3.4%.