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Sector Update: Healthcare Stocks Advance Wednesday Afternoon

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Healthcare stocks were higher Wednesday afternoon, with the NYSE Healthcare Index rising 1.1% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1%.

The iShares Biotechnology ETF (IBB) increased 0.9%.

In corporate news, Eli Lilly (LLY) shares rose 3.7% after it posted higher Q2 non-GAAP earnings and revenue in addition to raising its 2026 sales guidance. Separately, CVS Health (CVS) said Wednesday it revamped its direct-to-consumer weight management program, lowering the cost of virtual visits and expanding access to GLP-1 medications through a collaboration with Lilly. CVS shares were down 4.9%.

Novo Nordisk (NVO) said Wednesday it won a preliminary injunction in the Netherlands against Ceban Ziekenhuisfarmacie in a patent-infringement case involving its compounded semaglutide nasal spray. Novo shares rose 1.3%.

AstraZeneca (AZN) and Bristol Myers Squibb (BMY) are not engaged in discussions over a potential merger, Reuters reported Wednesday, citing a senior source close to the matter. AstraZeneca shares rose nearly 4%, and Bristol Myers Squibb fell 3.5%.

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