Sector Update: Health Care Stocks Advance Wednesday Afternoon

MT Newswires Live01:51

Health care stocks rose Wednesday afternoon, with the NYSE Health Care Index and the State Street Health Care Select Sector SPDR ETF (XLV) each adding 1.2%.

The iShares Biotechnology ETF (IBB) rose 1.4%.

In corporate news, Eli Lilly (LLY) said Wednesday the US Food and Drug Administration approved its once-daily oral glucagon-like peptide-1 receptor agonist, Foundayo, for adults with obesity or overweight with weight-related medical conditions. Lilly shares jumped 5.9%.

Pfizer (PFE) won a 2023 lawsuit against Poland and Romania, alleging that the countries violated purchase agreements by refusing to take delivery of the company's COVID-19 vaccines, multiple media outlets reported Wednesday. Pfizer shares rose 1%.

Kodiak Sciences (KOD) shares jumped 12% in Wednesday afternoon trading, a day after the company reported better-than-expected Q4 results.

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