01:56 PM EDT, 04/15/2024 (MT Newswires) -- Health care stocks advanced Monday afternoon with the NYSE Health Care Index rising 0.3% and the Health Care Select Sector SPDR Fund (XLV) up 0.2%.

The iShares Biotechnology ETF (IBB) fell 1%.

In corporate news, Florida's Agency for Health Care Administration said Friday it intends to award new contracts to five health plans for the Statewide Medicaid Managed Care Program. Among the contracts announced were for Humana's (HUM) Medical Plan, Elevance Health's ( ELV ) Simply Healthcare Plans and Centene's ( CNC ) Sunshine State Health Plan. Centene ( CNC ) shares rose 3.9%, Humana gained 1.1% and Elevance added 0.9%.

Novavax ( NVAX ) shares dropped 2.9% as Shah Capital called for the biotech company to add two of its director nominees to its board.

Soligenix ( SNGX ) shares soared 38% after the company said the active ingredient in MarVax received an orphan drug designation from the US Food and Drug Administration.