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Market Snapshot: Stock losses firm as slide in Mylan shares punishes health-care sector

U.S. stocks on Wednesday afternoon were trading at the lows of the session as selling in health-care shares, sparked by intensifying outrage over the pricing of a lifesaving drug by Mylan, put pressure on the broader market.

Mylan Inc. MYL, -5.41% has been in focus for the past several sessions as lawmakers have criticized the drugmaker’s decision to raise the price of its EpiPens, which is a widely used allergy medication.

Shares were trading 5.5% lower, and down more than 11% on the week.

The slump in Mylan has nudged the health-care sector lower and weighed on the exchange-traded iShares Nasdaq Biotechnology ETFIBB, -3.36% which was down 3.4%.

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