01:40 PM EDT, 05/12/2025 (MT Newswires) -- Health care stocks rose Monday afternoon with the NYSE Health Care Index adding 1.9% and the Health Care Select Sector SPDR Fund (XLV) climbing 2.5%.

The iShares Biotechnology ETF (IBB) jumped 4.8%.

In corporate news, President Donald Trump signed an executive order that will seek to lower prescription drug prices by tying the amount the government pays for some medicines to lower prices abroad. Trump also said he will seek to "cut out" pharmacy benefit managers. Shares of Pfizer ( PFE ) , Johnson & Johnson ( JNJ ) , Merck ( MRK ) , AbbVie ( ABBV ) and Eli Lilly ( LLY ) rose. UnitedHealth ( UNH ) , CVS Health ( CVS ) and Cigna ( CI ) , the owners of the three largest PBMs. fell.