01:55 PM EDT, 07/01/2025 (MT Newswires) -- Health care stocks rose Tuesday afternoon, with the NYSE Health Care Index up 1.2% and the Health Care Select Sector SPDR Fund (XLV) adding 1.1%.

The iShares Biotechnology ETF (IBB) climbed 1.4%.

In corporate news, AstraZeneca ( AZN ) Chief Executive Pascal Soriot has spoken privately on a number of occasions of his preference to move the company's stock market listing to the US, The Times reported Tuesday. AstraZeneca ( AZN ) gained 2.3%.

IGM Biosciences ( IGMS ) shares jumped 17% after the firm said it has agreed to be acquired by Concentra Biosciences.

Novo Nordisk's ( NVO ) top executives did not heed internal warnings that the company was not fully prepared for the launch of its weight loss drug Wegovy in the US, Reuters reported, citing six former employees. Novo shares were rising 1.2%

Sage Therapeutics ( SAGE ) is cutting 338 jobs, or the majority of its workforce, after the biotech company agreed to be acquired by Supernus Pharmaceuticals ( SUPN ) , according to government filings in Massachusetts and media reports. Sage shares were fractionally lower, and Supernus gained 2.6%.