03:52 PM EDT, 03/27/2026 (MT Newswires) -- Health care stocks declined late Friday afternoon, with the NYSE Health Care Index down 0.8% and the State Street Health Care Select Sector SPDR ETF (XLV) falling 1.4%.

The iShares Biotechnology ETF (IBB) dropped 2.5%.

In corporate news, AnaptysBio's ( ANAB ) shares fell past 11%. The company's board has approved the planned spin-off of First Tracks Biotherapeutics and a repurchase program for up to $100 million shares, the company said in separate Friday statements.

Eli Lilly ( LLY ) has secured a partial victory after a US federal judge allowed key portions of its lawsuit alleging false advertising and unfair competition against Aios, which operates as Fella Health and Delilah, to proceed. According to a court order, Eli Lilly ( LLY ) adequately alleged that Fella's marketing of compounded tirzepatide products could mislead consumers and divert sales. Lilly shares were down 2.1%.

Zenas BioPharma ( ZBIO ) shares dropped 19% after it priced a $200 million offering of 2.50% convertible senior notes due 2032 and a separate equity offering of 5 million shares at $20 per share.

ADMA Biologics ( ADMA ) shares jumped past 10% after the company refuted allegations in a March 24 report by Culper Research. ADMA Biologics ( ADMA ) said demand for its ASCENIV product "is real and growing," citing data provided by the company's distribution partners and direct customers.