Sector Update: Healthcare Stocks Mixed Thursday Afternoon

MT Newswires Live02:41

Healthcare stocks were mixed Thursday afternoon, with the NYSE Healthcare Index increasing 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) fractionally lower.

The iShares Biotechnology ETF (IBB) was falling 1.1%.

In corporate news, Bristol-Myers Squibb (BMY) shares added 0.1%. The firm said it will merge its research and development operations under Chief Medical Officer Cristian Massacesi, effective Jan. 1, 2027.

Eli Lilly (LLY) has received approval in China for its weight-loss pill orforglipron, Reuters reported, citing the country's drug regulator. Lilly shares were up 0.4%.

Moderna (MRNA) shares fell 3.8% after the company said it estimates cash costs of about $4 billion in 2027 and $4 billion to $4.5 billion annually from 2027 through 2030.

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