09:22 AM EDT, 05/05/2025 (MT Newswires) -- Health care stocks declined pre-bell Monday as the Health Care Select Sector SPDR Fund ( XLV ) was 0.2% lower and the iShares Biotechnology ETF (IBB) was down 0.8% recently.

Teva Pharmaceutical (TEVA) and Alvotech ( ALVO ) said Selarsdi has been approved by the US Food and Drug administration as interchangeable with the reference biologic Stelara. Teva Pharmaceutical shares were up over 5% and Alvotech ( ALVO ) shares were over 2% higher premarket.

Axsome Therapeutics ( AXSM ) shares advanced by over 4% after the company reported a narrower Q1 net loss as revenue increased.

PTC Therapeutics ( PTCT ) said a phase 2 study of PTC518, or votoplam, in stage 2 and 3 Huntington's disease met its primary endpoint of reduction in blood Huntingtin protein levels at week 12. Shares of PTC Therapeutics ( PTCT ) fell by 22% premarket.