Sector Update: Health Care Stocks Slide Monday Afternoon

MT Newswires Live02:04

Health care stocks were lower Monday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each shedding about 0.9%.

The iShares Biotechnology ETF (IBB) fell 1.3%.

In corporate news, Eli Lilly (LLY) has filed lawsuits against medical spas and online vendors for selling products claiming to contain tirzepatide, the main ingredient in its weight-loss drug Zepbound, Reuters reported. Eli Lilly shares declined 0.9%.

Cigna (CI) is continuing merger talks with Humana (HUM) after such discussions fell apart last year, Bloomberg reported Friday. Cigna shares fell 4.4% while Humana was down 1.9%.

LENZ Therapeutics (LENZ) said the US Food and Drug Administration has accepted its new drug application for its LNZ100 eye drops to treat presbyopia. Its shares rose over 3%.

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