03:43 PM EDT, 03/13/2025 (MT Newswires) -- Health care stocks declined late Thursday afternoon, with the NYSE Health Care Index easing 0.1% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.5%.

The iShares Biotechnology ETF (IBB) was 0.5% lower.

In sector news, Mallinckrodt and Endo are set to merge in a deal valued at $6.7 billion in cash and stock with the drugmakers set to list shares of the new firm on the New York Stock Exchange.

In corporate news, Akebia Therapeutics ( AKBA ) shares fell past 13% after the biopharmaceutical company reported a wider-than-expected Q4 loss.