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Sector Update: Healthcare Stocks Rise Monday Afternoon

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Healthcare stocks were higher Monday afternoon, with the NYSE Healthcare Index rising 1.4% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.2%.

The iShares Biotechnology ETF (IBB) rose 1.9%.

In corporate news, AbbVie (ABBV) has agreed to acquire Apogee Therapeutics (APGE) in an all-cash deal worth about $10.9 billion, as the drugmaker looks to boost its immunology portfolio and accelerate its clinical presence in the respiratory segment. AbbVie shares jumped past 7%, and Apogee surged 46%.

Jaguar Health (JAGX) shares climbed up past 9% after the firm said Monday its board has started a process to explore strategic alternatives to maximize shareholder value.

Definium Therapeutics (DFTX) shares soared 55% after the firm said the phase 3 Emerge trial of a single 100-microgram dose of DT120 orally disintegrating tablet in major depressive disorder met the primary endpoint, and all key secondary endpoints.

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Oil Edges Up as the U.S. and Iran Suspend Peace Talks Amid Fresh Israeli Attacks in Lebanon

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Sectors

Sector Update: Financial Stocks Lower Late Afternoon

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