Health care stocks declined Tuesday afternoon, with the NYSE Health Care Index down 0.6% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.4%.
The iShares Biotechnology ETF (IBB) rose less than 0.1%.
In corporate news, Walgreens Boots Alliance (WBA) is nearing the completion of a go-private deal with Sycamore Partners for around $10 billion, The Wall Street Journal reported late Monday. Walgreens shares jumped 7.3%.
UnitedHealth Group (UNH) shares rose 2.2% after a retired federal judge in her role as special master issued a recommendation favoring UnitedHealth to the presiding federal judge in a lawsuit brought by the US Department of Justice, which accused the healthcare company of failing to return money it received via the Medicare Advantage program.
Acelyrin (SLRN) and Alumis (ALMS) reaffirmed Tuesday their commitment to merge in an all-stock deal, as Acelyrin said its board had determined that Concentra Biosciences' unsolicited indication of interest is "not reasonably expected to result in a superior proposal." Acelyrin shares fell 6.9% and Alumis rose 1.3%.
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