The Food and Drug Administration granted approval for a new combination treatment targeting a difficult form of bladder cancer, developed through a partnership between Merck & Co., Pfizer, and Astellas Pharma. This regulatory win highlights continued innovation within the sector despite the day's bearish sentiment.

Elsewhere, Eli Lilly saw its share price slip during the session, rounding out a week of minor losses. Despite this pullback, the obesity drug maker continues to hover near all-time highs, reflecting sustained investor confidence in its long-term market position.