Health care stocks decreased late Thursday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each easing about 0.2%.

The iShares Biotechnology ETF (IBB) fell 0.8%.

In corporate news, Teleflex (TFX) agreed to buy most of Biotronik's Vascular Intervention business for 760 million euros ($793.1 million) in cash. Teleflex also said it plans to separate its urology, acute care, and OEM segments into a publicly traded company. Teleflex shares slumped past 21%.

GSK (GSK) said it will stop setting diversity targets, citing US legal concerns amid President Donald Trump's executive orders rolling back federal diversity, equity, and inclusion programs. GSK shares were easing 0.2%.

A buyout of Walgreens Boots Alliance (WBA) would set the stage for a three-way split of the company, with Executive Chair Stefano Pessina keeping a notable stake under the agreement, the Financial Times reported. Walgreens shares rose 1.5%.

Cassava Sciences (SAVA) jumped past 13%. The firm said it has signed a license agreement with Yale University for intellectual property rights, including rights to an issued US method of treatment patent for potential treatment with simufilam of seizures related to rare neurodevelopmental disorders.