02:05 PM EDT, 08/14/2024 (MT Newswires) -- Health care stocks were higher Wednesday afternoon, with the NYSE Health Care Index adding 0.4% and the Health Care Select Sector SPDR Fund (XLV) up 0.3%.

The iShares Biotechnology ETF (IBB) was shedding 0.6%.

In corporate news, Cardinal Health ( CAH ) shares popped 4.3%. The drug distributor lifted its full-year earnings outlook as it delivered higher fiscal Q4 results that exceeded market estimates.

Eli Lilly ( LLY ) shares gained 2.3%. The company has sent several cease-and-desist letters to US healthcare providers urging them to stop selling copycat weight-loss drugs as supplies of the drugmaker's Mounjaro and Zepbound improve, Bloomberg reported Wednesday.

Johnson & Johnson ( JNJ ) is set to announce wider support for a $6.48 billion settlement to resolve tens of thousands of lawsuits claiming its talc products caused cancer, Reuters reported Wednesday. Its shares added 0.2%.