Sector Update: Healthcare Stocks Ease in Afternoon Trading

MT Newswires Live01:47

Healthcare stocks were edging down Friday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each fractionally lower.

The iShares Biotechnology ETF (IBB) rose 0.5%.

In corporate news, Eli Lilly (LLY) said Friday that it has completed its acquisition of AtaiBeckley (ATAI), a clinical-stage biopharmaceutical company developing rapid-acting neuroplastogens for mental health conditions. Lilly shares were slightly lower.

Cosmos Health (COSM) said Friday its unit Cana Laboratories entered a new five-year contract manufacturing deal with Viofar to secure 2.5 million additional units of the Rosartia cardiovascular medicine. Cosmos shares gained 5%.

Exelixis (EXEL) shares fell 1.7% after it said the US Food and Drug Administration extended the review period for its new drug application for its metastatic colorectal cancer candidate zanzalintinib, in combination with atezolizumab, by three months.

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