01:40 PM EDT, 08/15/2024 (MT Newswires) -- Health care stocks rose Thursday afternoon with the NYSE Health Care Index increasing 0.2% and the Health Care Select Sector SPDR Fund (XLV) adding 0.4%.

The iShares Biotechnology ETF (IBB) gained 1.4%.

In sector news, the Centers for Medicare & Medicaid Services released prices for the first 10 prescription drugs under Medicare Part D that were subject to negotiations between drugmakers and Medicare. The negotiated prices will go into effect in 2026 and are expected to save Medicare enrollees $1.5 billion, the agency said.

In corporate news, Novo Nordisk ( NVO ) submitted a notice of appeal to the US Court of Appeals for the Third Circuit after a federal district judge rejected its arguments against the Medicare Drug Price Negotiation Program. Novo shares rose 2%.