09:02 AM EDT, 04/29/2024 (MT Newswires) -- Health care stocks were flat to higher pre-bell Monday with the iShares Biotechnology ETF ( IBB ) recently up 0.2% and the Health Care Select Sector SPDR Fund ( XLV ) unchanged.

Deciphera Pharmaceuticals ( DCPH ) was rallying past 71% after saying it has entered into a definitive merger agreement with ONO Pharmaceutical, where ONO will acquire all outstanding shares of Deciphera common stock for $25.60 per share in cash, resulting in a total equity value of $2.4 billion.

Royal Philips (PHG) was up more than 36% after it reported a Q1 adjusted income of 0.26 euros ($0.28) per diluted share, up from 0.21 euros a year earlier. The company also said it resolved a $1.1 billion settlement in a class-action lawsuit in the US over its Respironics devices.

Revvity ( RVTY ) was over 3% higher after it reported lower Q1 adjusted earnings and revenue that still topped estimates from analysts polled by Capital IQ.