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Sector Update: Health Care Stocks Softer Late Afternoon

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-- Health care stocks declined late Monday afternoon, with the NYSE Health Care Index decreasing 0.3% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.4%.

The iShares Biotechnology ETF (IBB) rose 1.6%.

In corporate news, Sanofi (SNY) said Monday it will invest 294 million Canadian dollars ($216 million) to expand its global AI Centre of Excellence in Toronto in a bid to accelerate the development and delivery of medicines. Its shares were down past 5%.

Amgen (AMGN) said Monday it will invest an additional $300 million in its biologics manufacturing facility in Puerto Rico. Amgen shares were down 2.1%.

Eli Lilly (LLY) shares added 0.7% after Barclays lifted the company's price target to $1,400 from $1,350, while keeping its overweight rating.

Vanda Pharmaceuticals (VNDA) shares jumped past 7% after it said Monday its motion sickness drug Nereus is now commercially available in the US.

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