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Sector Update: Healthcare Stocks Rise Monday Afternoon

MT Newswires Live
12 hours ago

Healthcare stocks were higher Monday afternoon, with the NYSE Healthcare Index rising 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.5%.

The iShares Biotechnology ETF (IBB) advanced 0.7%.

In corporate news, GE HealthCare Technologies (GEHC) said it has agreed to buy Sofie Biosciences from private equity firm Trilantic North America for $945 million. Shares rose 1.5%.

AstraZeneca (AZN) said Monday it is investing over $1 billion in Massachusetts as part of its broader investment of $50 billion across the US. Its shares were down 0.4%.

UnitedHealth (UNH) is being investigated by Texas Attorney General Ken Paxton over allegations that it has engaged in "deceptive" and "unlawful" practices that denied Texans access to medically necessary healthcare, the AG said Monday. UnitedHealth shares eased 0.3%.

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