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Sector Update: Healthcare Stocks Rise Tuesday Afternoon

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Healthcare stocks were higher Tuesday afternoon, with the NYSE Healthcare Index rising 1.1% and the State Street Health Care Select Sector SPDR ETF (XLV) increasing 0.8%.

The iShares Biotechnology ETF (IBB) rose 0.2%.

In corporate news, GSK (GSK) said it signed a definitive agreement Tuesday to acquire Nuvalent (NUVL) for $10.6 billion in cash. GSK shares rose 0.9%, and Nuvalent surged 39%.

Eli Lilly (LLY) entered into a collaboration and licensing agreement worth over $1 billion with Swedish pharmaceutical company AlzeCure Pharma for global rights to its investigative candidate for Alzheimer's disease. Lilly shares were down 0.5%.

NeuroSense Therapeutics (NRSN) shares added 1% after it said Tuesday that it has been issued a patent by the Japan Patent Office for PrimeC, its lead drug candidate to treat amyotrophic lateral sclerosis.

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