08:58 AM EST, 11/25/2025 (MT Newswires) -- Health care stocks were higher premarket Tuesday, with the iShares Biotechnology ETF (IBB) adding 0.7% and the Health Care Select Sector SPDR Fund (XLV) up 0.2%.

Novartis ( NVS ) shares were up more than 1% after the company said the US Food and Drug Administration has approved itvisma to treat spinal muscular atrophy, or SMA. Separately, Novartis ( NVS ) plans to cut up to 550 full-time jobs by the end of 2027 at its Stein facility in northern Switzerland, Reuters reported, citing the company.