01:25 PM EDT, 04/05/2024 (MT Newswires) -- Health care stocks rose Friday afternoon, with the NYSE Health Care Index adding 0.9% and the Health Care Select Sector SPDR Fund (XLV) climbing 1%.

The iShares Biotechnology ETF (IBB) rose 1.2%.

In corporate news, Johnson & Johnson ( JNJ ) agreed to buy Shockwave Medical ( SWAV ) in an all-cash deal with an enterprise value of about $13.1 billion as the pharmaceutical giant seeks to strengthen its MedTech cardiovascular portfolio. Shockwave shares gained 2.1%, and Johnson & Johnson ( JNJ ) eased 0.1%.