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Sector Update: Healthcare Stocks Decline in Afternoon Trading

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Healthcare stocks were lower Wednesday afternoon, with the NYSE Healthcare Index down 0.7% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.9%.

The iShares Biotechnology ETF (IBB) fell 1.2%.

In corporate news, Prenetics Global (PRE) shares dropped 7% after the company reported a Q1 loss of $1.36 per diluted share, wider than a loss of $0.80 a year earlier.

Sanofi (SNY) shares fell 2.3%. The firm said it will discontinue a phase 3 trial of riliprubart in patients with a type of chronic inflammatory demyelinating polyneuropathy after an interim review found the study was unlikely to provide sufficient efficacy.

Johnson & Johnson (JNJ) was ordered by a Los Angeles jury to pay $32 million to the family of a California woman who died from pleural mesothelioma after alleged exposure to asbestos-contaminated talc, according to the law firm representing the family. Johnson & Johnson shares were up 0.8%.

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Sector Update: Healthcare Stocks Rise Late Afternoon

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Sector Update: Financial Stocks Advance Late Afternoon

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