Healthcare was the worst performer of the 11 market sectors in 2025, with the S&P/ASX 200 Healthcare Index (ASX: XHJ) falling 24.91%.
The typically small dividend paid by healthcare shares offset this only slightly, with the sector's total returning negative 23.66%.
By comparison, the S&P/ASX 200 Index (ASX: XJO) rose 6.8% and delivered total returns of 10.32%.
The sector was dragged lower by a significant share price fall for its largest company by market cap, CSL Ltd (ASX: CSL).
The declining share price of the third largest company, Pro Medicus Ltd (ASX: PME), after a stellar run, also played a part.
The sector's deterioration in 2025 can be seen in the comparatively tepid share price lifts of the top three stocks of the year.
Let's take a look.
Neuren Pharmaceuticals Ltd (ASX: NEU)
The Neuren Pharmaceuticals share price leapt 49% to finish the year at $18.61.
For 1H FY25, the ASX 200 biotech reported revenue of $39.7 million, up 24%, and a net profit of $15 million, up 88%.
Neuren develops drug therapies to treat multiple serious neurological disorders with no or limited approved treatment options.
Its first approved drug, DAYBUE (trofinetide), for the treatment of Rett syndrome, was released to the market in April 2023.
Last month, the company got approval from US regulators for DAYBUE STIX.
DAYBUE STIX is a powder formulation of trofinetide for the treatment of Rett syndrome in adult and paediatric patients.
Yesterday, Neuren Pharmaceuticals informed investors that global sales could reach about US$700 million by 2028.
This would be a huge increase on the company's 2025 sales guidance of US$400 million.
Neuren Pharmaceuticals will report its full-year results on 25 February.
Sigma Healthcare (ASX: SIG)
The Sigma Healthcare share price rose 12% to finish the year at $2.94.
The ASX 200 large-cap healthcare share rode a wave of positivity last year after completing the Chemist Warehouse merger in February.
For FY25, Sigma Healthcare reported normalised revenue of $6 billion, up 82.2%.
It also reported a normalised net profit of $579.1 million, up 40.1%.
Sigma Healthcare will report its 1H FY26 results on 26 February.
Ansell Ltd (ASX: ANN)
The Ansell share price lifted just 4% to close at $35.01 on 31 December.
For FY25, Ansell reported a 23.7% lift in reported sales to $2 billion, It also reported a 44.3% increase in EBIT to $282 million.
The results included the impact of its $635 million acquisition of Kimberly-Clark Corporation's PPE business (KBU) on 1 July 2024.
Ansell raised its prices last year to fully offset the cost impact of the new US tariffs.
Ansell will report its 1H FY26 results on 16 February.
