01:58 PM EDT, 10/29/2025 (MT Newswires) -- Health care stocks were lower Wednesday afternoon, with the NYSE Health Care Index easing 0.1% and the Health Care Select Sector SPDR Fund (XLV) down 0.3%.

The iShares Biotechnology ETF (IBB) added 0.3%.

In corporate news, UnitedHealth's ( UNH ) near-term share valuation has largely priced in its prospects of an earnings recovery in 2027-2028, Deutsche Bank said in a report Wednesday. Deutsche downgraded the stock to hold from buy. UnitedHealth ( UNH ) shares were down 3%.

Thermo Fisher Scientific ( TMO ) shares rose 1.9% after it said Wednesday that it agreed to acquire Clario from a shareholder group for $8.88 billion in cash plus potential additional earnouts and other payments linked to performance.

Eli Lilly ( LLY ) said Wednesday it is planning to invest over $1.2 billion in a manufacturing site in Puerto Rico to boost its capacity to make oral medicines. Its shares rose 0.9%.

GSK (GSK) shares jumped nearly 7% after it posted higher Q3 core earnings and turnover, and raised its 2025 guidance.