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Sector Update: Healthcare Stocks Lower in Afternoon Trading

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Healthcare stocks declined Wednesday afternoon, with the NYSE Healthcare Index down 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.3%.

The iShares Biotechnology ETF (IBB) fell 0.7%.

In corporate news, Repligen (RGEN) has agreed to acquire BioLife Solutions (BLFS) in a deal valued at about $1.5 billion, the companies said. Repligen shares climbed up 3.2%, and BioLife jumped past 7%.

Amgen (AMGN) has agreed to pay $74 million to settle a shareholder lawsuit alleging the company waited too long to disclose it may owe the Internal Revenue Service $10.7 billion in back taxes, penalties and interest, news outlets reported Tuesday. Amgen shares were up 0.4%.

Tiziana Life Sciences (TLSA) shares rose 1.5% after the firm said Wednesday that founder and Executive Chairman Gabriele Cerrone has purchased 42,357 shares at $0.99 apiece.

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