01:27 PM EST, 12/02/2024 (MT Newswires) -- Health care stocks were easing Monday afternoon, with the NYSE Health Care Index down 0.2% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.3%.

The iShares Biotechnology ETF (IBB) rose 0.1%.

In corporate news, PTC Therapeutics ( PTCT ) signed a licensing deal with Novartis ( NVS ) unit Novartis Pharmaceuticals worth up to $2.9 billion for PTC518, its candidate treatment for Huntington's disease. PTC shares surged past 17% and Novartis ( NVS ) was down 0.9%.