01:55 PM EST, 11/12/2024 (MT Newswires) -- Health care stocks were in the red Tuesday afternoon, with the NYSE Health Care Index falling 1.3% and the Health Care Select Sector SPDR Fund (XLV) down 0.9%.

The iShares Biotechnology ETF (IBB) fell 1.4%.

In corporate news, Elanco Animal Health ( ELAN ) has agreed to pay $15 million to settle antifraud charges by the US Securities and Exchange Commission related to incentivized sales practices that distorted revenue growth, the agency said. Elanco shares were up 0.1%.

Pfizer ( PFE ) is exploring a sale of its hospital drugs unit, as it looks to divest non-core assets amid pressure from activist investor Starboard Value, Reuters reported. Pfizer ( PFE ) shares fell 0.5%.

The US Department of Justice is moving to block UnitedHealth's ( UNH ) $3.3 billion acquisition of Amedisys ( AMED ) , Bloomberg reported. UnitedHealth ( UNH ) shares were sliding 1.3% and Amedisys ( AMED ) were dropping 1.6%.