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Sector Update: Healthcare Stocks Softer Monday Afternoon

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Healthcare stocks declined Monday afternoon, with the NYSE Healthcare Index shedding 0.8% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.6%.

The iShares Biotechnology ETF (IBB) fell 0.7%.

In corporate news, Eli Lilly (LLY) has indicated an interest in buying shares at Scribe Therapeutics' initial public offering sufficient to raise its stake to as much as 10.9% following the offering and a concurrent private placement, Scribe said in a regulatory filing on Monday. Lilly shares were falling 1.4%.

Tempus AI (TEM) agreed to acquire Personalis (PSNL) in a deal with a total enterprise value of $1.5 billion. Tempus AI shares fell 6.9%, and Personalis dropped 11%.

Bristol-Myers Squibb (BMY) said Monday that it is expanding its partnership with Nvidia (NVDA) to build an AI factory dedicated to pharmaceutical research and development. Bristol-Myers Squibb shares were down 0.4%.

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