01:50 PM EDT, 03/25/2026 (MT Newswires) -- Health care stocks rose Wednesday afternoon, with the NYSE Health Care Index adding 1.2% and the State Street Health Care Select Sector SPDR ETF (XLV) up 1.1%.

The iShares Biotechnology ETF (IBB) climbed 3%.

In corporate news, Merck ( MRK ) on Wednesday agreed to acquire Terns Pharmaceuticals ( TERN ) in a deal with an equity value of about $6.7 billion to expand its hematology portfolio. Merck ( MRK ) shares rose 2.8%, and Terns jumped past 5%.

Corcept Therapeutics' ( CORT ) Relacorilant in combination with nab-paclitaxel has been approved to treat adults with platinum-resistant epithelial ovarian, fallopian tube, or primary peritoneal cancer, the US Food and Drug Administration said Wednesday. Corcept shares surged 21%.

Denali Therapeutics ( DNLI ) rose 6% after the firm said the US Food and Drug Administration has granted accelerated approval to Avlayah to treat neurologic manifestations of Hunter syndrome in children weighing at least 5 kg before advanced neurological impairment.