
Sector Update: Health Care Stocks Retreat Monday Afternoon

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Health care stocks fell on Monday, with the NYSE Health Care Index and the State Street Health Care Select Sector SPDR ETF (XLV) down 1.2%. The iShares Biotechnology ETF (IBB) decreased by 1.1%. Notably, uniQure (QURE) shares plummeted 33% after the FDA deemed their trial data insufficient for a marketing application for AMT-130. Zoetis (ZTS) announced a $160 million acquisition of Neogen's (NEOG) animal genomics business, while Gyre Therapeutics (GYRE) shares rose 7.4% following their agreement to acquire Cullgen for $300 million in stock.

