04:32 PM EDT, 06/02/2025 (MT Newswires) -- Health care stocks advanced late Monday afternoon, with the NYSE Health Care Index up 0.2% and the Health Care Select Sector SPDR Fund (XLV) adding 0.1%.

The iShares Biotechnology ETF (IBB) climbed 1.6%.

In corporate news, Genmab ( GMAB ) shares rose nearly 4% after it said Monday new cohort data from its phase 1/2 trial of rinatabart sesutecan to treat patients with advanced endometrial cancer showcased "encouraging" anti-tumor activity and a 47.1% confirmed objective response rate at a dosage of 120 milligrams per square meter, every three weeks.

Sanofi ( SNY ) agreed to buy biopharmaceutical company Blueprint Medicines ( BPMC ) in a deal worth up to $9.5 billion, as the French drugmaker seeks to expand its immunology portfolio. Sanofi ( SNY ) shares shed 0.4% and Blueprint jumped 26%.

Bristol Myers Squibb ( BMY ) and BioNTech (BNTX) said Monday they have agreed to co-develop and co-commercialize an investigational bispecific therapy across various solid tumor types. Bristol Myers shares added 1.1% and BioNTech jumped 18%.