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Sector Update: Healthcare

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Healthcare stocks declined late Wednesday afternoon, with the NYSE Healthcare Index falling 1% and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.9%.

The iShares Biotechnology ETF (IBB) decreased 0.5%.

In corporate news, Eli Lilly (LLY) said Wednesday that a real-world study showed sustained use of its weight-management drug Zepbound was associated with lower healthcare costs among adults older than 55 with overweight or obesity, compared with similar untreated adults. Lilly shares were down 3.3%.

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