Sector Update: Health Care Stocks Decline Monday Afternoon
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Health care stocks declined on Monday, with the NYSE Health Care Index down 0.5% and the Health Care Select Sector SPDR Fund (XLV) down 0.1%. Novo Nordisk shares fell 9% following disappointing trial results for its weight loss drug. In contrast, Checkpoint Therapeutics shares surged nearly 62% after announcing an acquisition by Sun Pharmaceutical. BioNTech's shares dropped 2.6% after reporting a decline in Q4 revenue and projecting further sales decreases in 2025.
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