04:03 PM EDT, 06/24/2025 (MT Newswires) -- Health care stocks rose late Tuesday afternoon, with the NYSE Health Care Index adding 1.3% and the Health Care Select Sector SPDR Fund (XLV) gaining 1.2%.

The iShares Biotechnology ETF (IBB) climbed 2.1%.

In sector news, CVS Health (CVS), UnitedHealth (UNH) and Cigna ( CI ) must consider eliminating drug rebates before the government moves to change the system, Medicare and Medicaid chief Mehmet Oz said, according to a Bloomberg report.

In corporate news, Cigna ( CI ) filed a lawsuit against Bristol Myers Squibb ( BMY ) , accusing the pharmaceutical giant of violating US antitrust laws by preventing generic versions of its blood cancer drug Pomalyst from entering the market. Cigna ( CI ) shares increased 0.1% and Bristol Myers Squibb ( BMY ) was up 0.3%.

GE Healthcare Technologies ( GEHC ) shares rose 1.3% after it said Tuesday the US Food and Drug Administration approved an updated label for its positron emission tomography imaging agent Vizamyl.

Novo Nordisk ( NVO ) shares added 1.6%. The company's weight loss drug Wegovy is now available in India.

Nektar Therapeutics ( NKTR ) shares surged 156% after the company's phase 2b trial of rezpegaldesleukin met its primary endpoint in people with atopic dermatitis.

Amarin ( AMRN ) shares jumped 27% after the company signed an exclusive license and supply agreement with Recordati to commercialize Vazkepa in 59 countries with a focus on Europe.