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Sector Update: Health Care

-- Health care stocks declined Monday afternoon, with the NYSE Health Care Index decreasing 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.5%.

The iShares Biotechnology ETF (IBB) was down 0.3%.

In corporate news, Eli Lilly (LLY) has agreed to buy clinical-stage biotechnology firm Kelonia Therapeutics for up to $7 billion, as the drugmaker looks to bolster its cancer treatment portfolio. Lilly shares eased 0.1%.

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