UPDATE 2-FTSE 100 drops as healthcare giants overshadow Fed-driven rally

* FTSE 100 down 0.3%, FTSE 250 up 0.2%
* Healthcare stocks hit after U.S. drops rebate rule
* Fed Chair's comments earlier reinforced rate cut bets
* Housebuilders shine after upbeat survey data
* Drugmaker Indivior surges after forecast upgrade

(Adds news items, updates to closing prices)
By Muvija M and Shashwat Awasthi
July 11 (Reuters) - London's main index skidded for the
sixth straight session on Thursday as investors sold off
healthcare stocks after Washington withdrew a rebate rule aimed
at lowering drug prices, and a Fed-fuelled rally fizzled out.
The FTSE 100 .FTSE shed 0.3%, while the mid-cap FTSE 250
.FTMC capitalised on a rise in sterling to add 0.1%.
The U.S. government scrapped one of its most ambitious
proposals for lowering prescription medicine prices, backing
down from a policy that would have required health insurers to
pass on billions of dollars in rebates they receive from
drugmakers to Medicare patients. "Overall, we view this outcome as a modest negative for the
major pharmaceutical group," JP Morgan analysts wrote, adding
that the move had removed a "potential positive catalyst" for
the sector.
Pharmaceutical heavyweight AstraZeneca AZN.L was by far
the biggest drag on the blue-chip index, while peer
GlaxoSmithKline GSK.L also fell.
The Trump administration's move wiped out gains the market
had posted earlier, as it cheered dovish comments from the U.S.
central bank that reinforced bets of an interest rate cut and
lifted broader sentiment.
Losses were stemmed by shares of homebuilders .FTNMX3720 ,
which enjoyed their best day in nearly a month after a survey
revealed the housing market had shown tentative signs of
recovery in June. Barratt BDEV.L , Britain's biggest housebuilder, surged
5.2% on its best day in more than eight months.
Reckitt Benckiser RB.L added 2.4% after it agreed to pay
up to $1.4 billion to resolve all U.S. federal investigations in
connection with the sales and marketing of Suboxone Film by its
former unit Indivior INDV.L .
"With this settlement, management draws a line under an
issue that would, at best, have resulted in additional
cost/distraction/uncertainty and could, at worst, have led to
much more costly and protracted legal proceedings," Deutsche
Bank analysts said.
Indivior soared as much as 41% after it raised its annual
profit and revenue forecast in a separate statement as Suboxone
lost market share at a slower pace than expected. The small-cap drugmaker's stock pared gains after
Washington's move to kill the drug rebate rule, and ended 7%
higher.
The pound firmed after the Fed's indications of an interest
rate cut weakened the dollar and helped the mid-cap index
outperform the main bourse.
Diploma DPLM.L was the stand out mid-cap gainer after an
earnings-accretive acquisition of fluid sealing products
supplier Virginia Sealing Products. The world's oldest tour operator, Thomas Cook TCG.L ,
climbed more than 10% after peer and Jet2 owner Dart Group
DTG.L reported higher annual earnings as Britons booked more
holidays. Dart shares were 4.5% higher.