04:01 PM EDT, 06/26/2024 (MT Newswires) -- Health care stocks fell late Wednesday afternoon, with the NYSE Health Care Index losing 0.4% and the Health Care Select Sector SPDR Fund (XLV) down 0.3%.

The iShares Biotechnology ETF (IBB) fell 1.1%.

In regulatory news, the US Health and Human Services Department said some Medicare enrollees will pay less for 64 prescription drugs available through Medicare Part B. Since each drug company raised prices faster than the rate of inflation, the drugs will have a lowered Part B coinsurance rate from July 1 to Sept. 30, HHS said.

In corporate news, the efficacy of Moderna's ( MRNA ) RSV vaccine drops sharply in the second year and is lower than rival vaccines, according to the Centers for Disease Control and Prevention. Moderna ( MRNA ) shares slumped 10.6%.

Anew Medical's ( WENA ) shares skyrocketed 119% after it said Wednesday that it received a European patent for its Klotho gene sequence and gene delivery systems to treat diminished cognition, memory loss, dementia and other neurodegenerative diseases.

Novo Nordisk ( NVO ) shares fell 2.1% after the firm said it will recognize an impairment loss of about 5.7 billion Danish krone ($816.2 million) in Q2 after its Clarion-CKD phase 3 trial failed to meet its primary endpoint.

Cyclacel Pharmaceuticals ( CYCC ) said Wednesday the European Patent Office has notified the company of its intention to grant a patent covering plogosertib pharmaceutical compositions. Its shares jumped nearly 21%.