03:55 PM EDT, 08/01/2025 (MT Newswires) -- Health care stocks rose late Friday afternoon with the NYSE Health Care Index gaining 0.5% and the Health Care Select Sector SPDR Fund (XLV) adding 0.6%.

The iShares Biotechnology ETF (IBB) climbed 0.3%.

In corporate news, Eli Lilly's ( LLY ) shares rose 3.4% after media reports said US health officials are proposing a pilot program that would allow Medicaid and some Medicare drug plans to cover costly weight loss medications.

Chemed ( CHE ) said its board approved $300 million in additional stock repurchases to be funded via a combination of cash and a revolving credit facility. The shares rose 1.3%.

IRhythm Technologies ( IRTC ) shares jumped 17%, a day after the company reported better-than-expected Q2 results.

Moderna ( MRNA ) lowered the top end of its 2025 revenue guidance range due to a delay in COVID-19 vaccine shipments to the UK. The shares slumped 7.5%.