08:46 AM EDT, 07/08/2024 (MT Newswires) -- Health care stocks were edging higher premarket Monday as the Health Care Select Sector SPDR Fund (XLV) was marginally advancing and the iShares Biotechnology ETF (IBB) was up 0.5% recently.

Morphic Holding ( MORF ) rallied past 75% after Eli Lilly ( LLY ) signed a definitive deal to acquire the company for $57 in cash per Morphic ( MORF ) common share for a total of about $3.2 billion, payable at closing.