Sector Update: Healthcare Stocks Rise Late Afternoon

MT newswire2026/10/07 19:47

03:47 PM EDT, 10/07/2026 (MT Newswires) -- Healthcare stocks rose late Wednesday afternoon, with the NYSE Healthcare Index adding 1.2% and the State Street Health Care Select Sector SPDR ETF (XLV) advancing 1%. The iShares Biotechnology ETF (IBB) increased 0.1%. In corporate news, CVS Health (CVS) said Wednesday it has opened its first pharmacy-focused location in the Boston area. The company said nearly 20 pharmacy-focused sites will open in select communities across the country in 2026. CVS shares rose 2%. AbbVie (ABBV) shares added 1.6% after the company said the US Food and Drug Administration granted two Breakthrough Therapy Designations for its experimental cancer drug telisotuzumab adizutecan. Halozyme Therapeutics (HALO) shares rose 1% after the company said it has been awarded an injunction by the specialized Dutch patent court in The Hague that stops manufacture and sale of Merck's (MRK) Keytruda SC in multiple European markets. Merck shares were up 0.3%. Novartis (NVS) shares climbed 1.6% after the firm said the US Food and Drug Administration has approved Rhapsido for adults with symptomatic dermographism inadequately controlled by H1 antihistamines.

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