Health care stocks were mixed in Tuesday afternoon trading with the NYSE Health Care Index increasing 0.1% and the Health Care Select Sector SPDR Fund (XLV) little changed.
The iShares Biotechnology ETF (IBB) rose 0.6%.
In corporate news, Pfizer (PFE) shares gained 4.3%. The company projected higher earnings for 2025 and revenue in line with this year's likely results on "disciplined execution" and cost cuts.
Teva Pharmaceutical Industries (TEVA) shares surged 26% after the company's co-developed drug duvakitug was found to benefit people with inflammatory bowel disease. Teva's US affiliate and Sanofi (SNY) said a phase 2b study on duvakitug met primary endpoints in people with ulcerative colitis and Crohn's disease. Sanofi shares jumped 7.3%.
Vaccinex (VCNX) shares will be delisted from Nasdaq on Wednesday after the company failed to maintain a minimum of $2.5 million in stockholder equity. The stock plunged 62%.
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