Sector Update: Health Care Stocks Softer Wednesday Afternoon

MT Newswires Live

12/18

Health care stocks were lower Wednesday afternoon, with the NYSE Health Care Index and the State Street Health Care Select Sector SPDR ETF (XLV) each decreasing 0.2%.

The iShares Biotechnology ETF (IBB) eased 0.1%.

In corporate news, Vistagen Therapeutics (VTGN) shares tumbled 80% after Maxim downgraded the company to hold from buy.

The White House is set to announce deals with Novartis (NVS) and Roche on drug pricing, Bloomberg reported Wednesday. Other drugmakers may be included in the announcement, the report said. Novartis shares rose 0.4%.

Medline (MDLN) shares surged 30% in their trading debut on Nasdaq Wednesday after the company priced an upsized IPO of about 216 million class A shares at $29 per share.

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