Sector Update: Health Care Stocks Mixed in Afternoon Trading

02:08 PM EDT, 03/31/2025 (MT Newswires) -- Health care stocks were mixed Monday afternoon, with the NYSE Health Care Index edging 0.2% lower and the Health Care Select Sector SPDR Fund (XLV) gaining 0.2%.

The iShares Biotechnology ETF (IBB) fell 2.9%.

In sector news, any bankruptcy-related buyer of 23andMe (ME) should honor its privacy policies that vow to not disclose customers' genetic information, Federal Trade Commission Chairman Andrew Ferguson said in a letter to the US Trustee.

In corporate news, shares of several vaccine companies were sharply lower after the top vaccine official at the US Food and Drug Administration resigned late Friday, blaming the current US Secretary of Health and Human Services for seeking "subservient confirmation of his misinformation and lies." Shares of Moderna ( MRNA ) , Novavax ( NVAX ) , BioNTech (BNTX) were down 9.3%, 8.5% and 6.1%, respectively. Pfizer ( PFE ) was off 1.1% while Inovio Pharmaceuticals ( INO ) was down 5.1%.

Corcept Therapeutics ( CORT ) shares soared 88% after the company said its phase 3 trial of relacorilant plus nab-paclitaxel to treat a type of ovarian cancer met its primary goal.

Abbott Laboratories ( ABT ) shares added 0.7%. The firm said study results showed that the TriClip transcatheter edge-to-edge repair system to treat leaky heart valves provided "substantial and sustained improvements" in the severity of the condition after two years.

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