Sector Update: Healthcare Stocks Decline in Afternoon Trading
MT newswire2026/10/08 17:4701:47 PM EDT, 10/08/2026 (MT Newswires) -- Healthcare stocks fell Thursday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each falling about 1%. The iShares Biotechnology ETF (IBB) shed 1.7%. In corporate news, Viatris (VTRS) said it has agreed to buy Pacira BioSciences (PCRX) in an all-cash deal worth about $1.65 billion to strengthen its non-opioid pain management portfolio. Viatris shares were down 2.1%, and Pacira surged 44%. Argenx (ARGX) said it will discontinue a phase 3 study of efgartigimod subcutaneous in adults with Sjogren's disease following a recommendation from an independent data monitoring committee. Shares fell past 11%. ADC Therapeutics (ADCT) shares jumped past 9% after the firm reported a financial restructuring to bolster its balance sheet, extend cash runway into 2029, reduce leverage, and ramp strategic optionality to drive shareholder value.
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