Healthcare stocks faced a downturn due to various negative developments, including managed care providers like Elevance Health and Humana seeing declines, pharmaceutical companies like Sarepta Therapeutics experiencing drops, and GSK’s blood cancer drug facing FDA committee resistance. The broader market sentiment, including concerns about rising costs and pricing for 2025 plans, added to the downward pressure on healthcare equities. Molina Healthcare’s shares were impacted by the troubles at fellow health insurer Centene, leading to fears of industry-wide challenges. Molina Healthcare is down 34.9% year-to-date, trading 48.2% below its 52-week high.

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