Health care stocks were lower late Monday afternoon, with the NYSE Health Care Index dropping 1% and the Health Care Select Sector SPDR Fund (XLV) falling 1.2%.

The iShares Biotechnology ETF (IBB) fell 1.5%.

In corporate news, EnGene (ENGN) shares jumped 9% after the company said it has appointed Joan Connolly as chief technology officer. The firm said co-founder and former CTO Anthony Cheung will become chief scientific officer, succeeding James Sullivan.

Celularity (CELU) shares tumbled 16%. The company said late Friday it received a delisting notice from Nasdaq due to its inability to timely file its Forms 10-Q for the the periods ended March 31 and June 30.

Eli Lilly (LLY) has filed lawsuits against medical spas and online vendors for selling products claiming to contain tirzepatide, the main ingredient in its weight-loss drug Zepbound, Reuters reported. Eli Lilly shares declined 1.3%.

Cigna (CI) is continuing merger talks with Humana (HUM) after such discussions fell apart last year, Bloomberg reported Friday. Cigna shares fell 4.7%, and Humana was down 2.5%.