Health care stocks were retreating Friday afternoon, with the NYSE Health Care Index down 0.1% and the Health Care Select Sector SPDR Fund (XLV) 0.2% lower.

The iShares Biotechnology ETF (IBB) fell 1.9%.

In corporate news, Eli Lilly (LLY) said Friday that data from its open-label extension study showed bowel disease drug Omvoh provided long-term clinical remission and endoscopic response to people with Crohn's disease as well as for those with prior biologic failure. Its shares rose 1.6%.

Illumina (ILMN) shares fell 8.2% after the company posted overnight lower Q4 revenue.

Ascentage Pharma (AAPG) said Friday that underwriters of its US initial public offering have partially exercised an over-allotment option to buy an additional 935,144 American depositary shares at the IPO price of $17.25 per ADS. Its shares shed 0.8%.