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Sector Update: Health Care Stocks Slipping Late Afternoon

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Sector Update: Health Care Stocks Slipping Late Afternoon

Mar 13, 2025 1:28 PM

04:02 PM EDT, 03/13/2025 (MT Newswires) -- Health care stocks were lower 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 12% after the biopharmaceutical company reported a wider-than-expected Q4 loss.

MeiraGTx ( MGTX ) shares jumped 26% after it reported a collaboration with Hologen, a developer of generative AI models of clinical data for drug development.

Lifeward ( LFWD ) shares popped 9%. The US Food and Drug Administration cleared ReWalk 7, the newest version of the company's personal exoskeleton device.

ImmunoPrecise Antibodies ( IPA ) shares rose over 10% after the company reported a partnership with an undisclosed biotech firm to develop cancer therapeutics.

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