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Sector Update: Healthcare Stocks Decline Late Afternoon

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Healthcare stocks declined late Thursday afternoon, with the NYSE Healthcare Index shedding 1.5% and the State Street Health Care Select Sector SPDR ETF (XLV) falling 1.7%.

The iShares Biotechnology ETF (IBB) was up 0.3%.

In corporate news, Xencor (XNCR) shares rose nearly 11% after the company said it has reached a settlement agreement with AstraZeneca (AZN) subsidiary Alexion Pharma International to resolve a commercial dispute over US royalties on Ultomiris. AstraZeneca shares were down 1.2%.

Eli Lilly (LLY) expanded its collaboration with Resilience to invest $750 million as part of its effort to boost US production of Lilly's KwikPen injectable device for diabetes and obesity medicines, Resilience said Thursday. Lilly shares were down 4.4%.

Johnson & Johnson (JNJ) said it has entered into strategic agreements with Sail Biomedicines to advance the biotech's in vivo CAR-T therapy platform for immune-mediated diseases, including an equity investment and an exclusive option to buy Sail for $2.58 billion. Johnson & Johnson shares fell 3.8%.

Bausch Health (BHC) shares surged 26% after it reported higher Q2 results and raised its 2026 revenue outlook.

Regeneron Pharmaceuticals (REGN) shares were up 6.3% after it reported higher Q2 results.

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