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Sector Update: Healthcare Stocks Decline Tuesday Afternoon

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Healthcare stocks were lower Tuesday afternoon, with the NYSE Healthcare Index down 0.5% and the State Street Health Care Select Sector SPDR ETF (XLV) easing 0.2%.

The iShares Biotechnology ETF (IBB) climbed 1.7%.

In corporate news, BioNTech (BNTX) shares fell nearly 1% after it reported a wider Q2 adjusted loss and lower revenue, and cut its 2026 revenue guidance.

Merck (MRK) and Pfizer (PFE) raised their respective full-year sales outlooks on Tuesday, as both pharmaceutical giants logged better-than-expected sales for Q2. Merck shares rose 0.8%, and Pfizer added 1.6%.

AbbVie's (ABBV) Allergan Aesthetics unit said Tuesday that the US Food and Drug Administration has accepted for review its supplemental biologics license application for BOTOX Cosmetic, or onabotulinumtoxinA for masseter muscle prominence. AbbVie shares were down 1%.

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