Health care stocks were lower Thursday afternoon, with the NYSE Health Care Index shedding 0.4% and the Health Care Select Sector SPDR Fund (XLV) down 0.2%.

The iShares Biotechnology ETF (IBB) was 0.3% higher.

In corporate news, Eli Lilly (LLY) and Novo Nordisk (NVO) have reached agreements to cut prices for several weight-loss and diabetes drugs under the government's TrumpRx program, the White House said Thursday. Eli Lilly shares were down 0.2%, and Novo dropped 3.6%.

Moderna (MRNA) narrowed its full-year revenue outlook on Thursday as its Q3 top-line declined less than expected amid weak COVID-19 vaccine sales. Its shares rose 2.9%.

Haemonetics (HAE) shares jumped 28% after the company posted fiscal Q2 results that topped expectations.