Sector Update: Health Care Stocks Decline Friday Afternoon

MT Newswires Live02:42

Health care stocks declined Friday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each decreasing 0.3%.

The iShares Biotechnology ETF (IBB) shed 0.6%.

In corporate news, Novo Nordisk (NVO) has lost an Indian court case over whether Dr. Reddy's Laboratories (RDY) can make and export generic versions of its diabetes and weight-loss drugs, news outlets reported. Novo shares and Dr. Reddy's shares were slightly higher.

Conmed (CNMD) shares fell past 10% after it said Friday it plans to exit its gastroenterology product lines as part of a portfolio optimization strategy. As a result of the exit, the company said it expects an EPS dilution of $0.45 to $0.55 in 2026.

Cooper (COO) stock jumped past 8% after it posted higher fiscal Q4 non-GAAP earnings and net sales.

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