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Sector Update: Healthcare Stocks Advance in Afternoon Trading

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Healthcare stocks edged higher Tuesday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each adding 0.2%.

The iShares Biotechnology ETF (IBB) was down 0.2%.

In corporate news, GSK (GSK) said Health Canada approved Exdensur for severe eosinophilic asthma, which is driven by elevated white blood cells, and for chronic rhinosinusitis with nasal polyps, a condition that causes blockage and inflammation. GSK shares rose 0.3%.

Novo Nordisk (NVO) plans to apply for Chinese regulatory approval of its oral weight-loss drug, Wegovy, within the next few months, Reuters reported, citing Chief Executive Mike Doustdar. According to the report, Eli Lilly (LLY) submitted a marketing application in China for its oral obesity drug late last year, putting the company ahead of Novo in the race to launch a weight-loss pill in the country. Novo shares were down 0.3%, and Lilly was 0.1% lower.

Oncolytics Biotech (ONCY) shares jumped past 10% after it said Tuesday it has received a US patent covering the pelareorep manufacturing process into 2044.

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Sector Update: Financial Stocks Advance Late Afternoon

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