02:01 PM EDT, 05/22/2024 (MT Newswires) -- Health care stocks were rising Wednesday afternoon, with the NYSE Health Care Index adding 0.3% and the Health Care Select Sector SPDR Fund (XLV) up 0.4%.

The iShares Biotechnology ETF (IBB) climbed 1.3%.

In corporate news, Biogen (BIIB) announced a deal to buy privately held Human Immunology Biosciences for up to $1.8 billion, expanding its rare disease pipeline with an investigational candidate that aims to treat a kidney-specific disease. Biogen shares were shedding 0.6%.

Amphastar Pharmaceuticals ( AMPH ) shares spiked 3.6% after it said Wednesday the US Food and Drug Administration has approved its abbreviated new drug application for albuterol sulfate inhalation aerosol to treat bronchospasm in patients aged four and older.

LifeStance Health ( LFST ) shares tumbled almost 20% after it said late Tuesday a secondary underwritten public offering of 20 million shares was priced at $6.25 per share.