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Sector Update: Healthcare Stocks Gain Late Afternoon

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Healthcare stocks were higher late Thursday afternoon, with the NYSE Healthcare Index rising 1.7% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 2%.

The iShares Biotechnology ETF (IBB) was down 0.7%.

In corporate news, Merck (MRK) shares gained 3% after it said Thursday that the Food and Drug Administration has approved Lipfendra 20 mg tablets as an adjunct to diet and exercise to reduce low-density lipoprotein cholesterol, or LDL-C, in adults with hypercholesterolemia, including heterozygous familial hypercholesterolemia.

UnitedHealth (UNH) shares rose 1.7% after it posted higher Q2 adjusted earnings and revenue and raised its 2026 adjusted EPS outlook.

AtaiBeckley (ATAI) shares surged 32% after Eli Lilly (LLY) said it agreed to acquire the clinical-stage biopharmaceutical company for up to $3.8 billion. Lilly was up 0.8%.

Abbott Laboratories (ABT) lifted its full-year earnings outlook on Thursday as the healthcare firm reported Q2 results above market estimates. Abbott shares jumped past 10%.

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