Sector Update: Healthcare Stocks Rise in Afternoon Trading
MT newswire2026/10/07 17:4601:46 PM EDT, 10/07/2026 (MT Newswires) -- Healthcare stocks rose Wednesday afternoon, with the NYSE Healthcare Index adding 1.6% and the State Street Health Care Select Sector SPDR ETF (XLV) advancing 1.7%. The iShares Biotechnology ETF (IBB) increased 0.8%. In sector news, Alphabet's (GOOGL) Google DeepMind, Meta (META), and Isomorphic Labs are collectively investing $300 million in Biohub's Virtual Biology Initiative to build datasets for AI models to predict and treat diseases, Biohub said Wednesday. In corporate news, Halozyme Therapeutics (HALO) shares rose 1.9% 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 0.9%. Novartis (NVS) shares rose 2% after the firm said the US Food and Drug Administration has approved Rhapsido for adults with symptomatic dermographism inadequately controlled by H1 antihistamines. Pfizer (PFE) plans to cut about 330 jobs at its Sicily plant in Italy, Reuters reported Wednesday, citing labor unions. The plant employs about 550 people, the report said. Shares rose 2.2%. Ultragenyx Pharmaceutical (RARE) shares added 2.7% after the firm said Wednesday it has agreed to sell a rare pediatric disease priority review voucher for $210 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
SNT Holdings, Related Party Raise Combined Stake in SNTEnergy to 55.75% From 52.75%
Cold wave and rising fuel costs drive electricity prices in northeastern Japan and Tokyo to a four-year high
Japan's spot electricity prices surged to multi-year highs over the weekend.
Google (GOOGL.US) warns that new Australian cybersecurity regulations may cut off minors' access to Gmail
Google stated that a new cybersecurity bill in Australia could prevent minors from using Gmail.
Canaccord Genuity: Lowers Oklo's target price to $66
Crypto prices
More
