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Sector Update: Healthcare

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Healthcare stocks were higher late Thursday afternoon, with the NYSE Healthcare Index rising 1.7% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 2%.

The iShares Biotechnology ETF (IBB) was down 0.7%.

In corporate news, Merck (MRK) shares gained 3.5% after it said Thursday that the Food and Drug Administration has approved Lipfendra 20 mg tablets as an adjunct to diet and exercise to reduce low-density lipoprotein cholesterol, or LDL-C, in adults with hypercholesterolemia, including heterozygous familial hypercholesterolemia.

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