03:47 PM EST, 11/05/2025 (MT Newswires) -- Health care stocks rose late Wednesday afternoon with the NYSE Health Care Index gaining 0.4% and the Health Care Select Sector SPDR Fund (XLV) adding 0.6%.

The iShares Biotechnology ETF (IBB) climbed 1.6%.

In corporate news, Madrigal Pharmaceuticals ( MDGL ) shares jumped 9% after Cantor Fitzgerald upgraded the stock to overweight from neutral.

President Donald Trump is scheduled to announce at 11 a.m. Thursday a deal with Eli Lilly ( LLY ) and Novo Nordisk ( NVO ) on the price of weight-loss medications, CBS News reporter Jennifer Jacobs said on X. The deal is expected to lower the prices to under $150 per month in some cases, the report said. Eli Lilly ( LLY ) shares rose 3%, and Novo added 1.1%.

Amgen's ( AMGN ) new launches and pipeline progress now face investor focus after the company reported Q3 results that topped estimates, Morgan Stanley said. Amgen ( AMGN ) shares popped 8.7%.

Teva Pharmaceutical Industries ( TEVA ) shares surged 21% after the company reported Q3 non-GAAP earnings and net revenue that topped analyst expectations.