09:18 AM EDT, 03/31/2026 (MT Newswires) -- Health care stocks were advancing premarket Tuesday, with the State Street Health Care Select Sector SPDR ETF ( XLV ) 0.8% higher and the iShares Biotechnology ETF (IBB) up 1.3%.

Eli Lilly ( LLY ) said it has agreed to acquire Centessa Pharmaceuticals ( CNTA ) in a deal valued at up to about $7.8 billion, comprising an upfront cash consideration of about $6.3 million and contingent value right of up to about $1.5 billion. Shares of Centessa Pharmaceuticals ( CNTA ) were up more than 45% pre-bell.

Biogen (BIIB) has agreed to acquire Apellis Pharmaceuticals ( APLS ) for about $5.6 billion in cash plus contingent value rights tied to global net sales of Syfovre, the companies said. Apellis Pharmaceuticals ( APLS ) stock was up more than 136% premarket.

Scholar Rock ( SRRK ) shares were up more than 11% after the company said it has resubmitted to the US Food and Drug Administration the biologics license application for apitegromab as a treatment for children and adults with spinal muscular atrophy.