01:54 PM EST, 01/29/2025 (MT Newswires) -- Health care stocks fell Wednesday afternoon, with the NYSE Health Care Index shedding 0.5% and the Health Care Select Sector SPDR Fund (XLV) down 0.4%.

The iShares Biotechnology ETF (IBB) dropped 0.3%.

In corporate news, Danaher ( DHR ) reported Q4 earnings that trailed market estimates, while the medical technology company expects adjusted core revenue to decline in Q1. Its shares slumped 8.6%.

Teva Pharmaceutical Industries ( TEVA ) shares dropped more than 12% after the company reported lower Q4 results.

OS Therapies ( OSTX ) shares rose past 7% after the company said Wednesday it agreed to buy Ayala Pharmaceuticals' listeria monocytogenes-based immuno-oncology programs and related intellectual property assets.