Sector Update: Healthcare Stocks Softer Late Afternoon
MT newswire2026/10/08 19:5303:53 PM EDT, 10/08/2026 (MT Newswires) -- Healthcare stocks were lower late Thursday afternoon, with the NYSE Healthcare Index shedding 0.6% and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.5%. The iShares Biotechnology ETF (IBB) fell 1.4%. 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 0.7%, 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 11% 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. Editas Medicine (EDIT) shares rose 2% after the company received approval in Australia to initiate a phase 1/2 trial of EDIT-401 in people with heterozygous familial hypercholesterolemia.
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