Sector Update: Health Care

Health care stocks declined late Thursday afternoon with the NYSE Health Care Index falling 1% and the Health Care Select Sector SPDR Fund (XLV) down 0.8%.

The iShares Biotechnology ETF (IBB) dropped 1.7%.

In corporate news, Grifols' GRF 1.3 billion euro ($1.36 billion) offering of 7.125% notes due 2030 includes a clause allowing Brookfield Asset Management (BAM) to redeem the debt at an earlier date, Bloomberg reported. Grifols shares fell 1%, and Brookfield shed 2.3%.