02:00 PM EST, 01/31/2025 (MT Newswires) -- Health care stocks were higher Friday afternoon, with the NYSE Health Care Index adding 0.1% and the Health Care Select Sector SPDR Fund (XLV) up 0.2%.

The iShares Biotechnology ETF (IBB) rose 0.2%.

In corporate news, AbbVie ( ABBV ) reported better-than-expected Q4 results amid robust sales of Skyrizi and Rinvoq, prompting the drugmaker to lift its long-term combined revenue outlook for the two immunology drugs. Its shares popped 5.4%.

Walgreens Boots Alliance ( WBA ) shares fell 7.8%. The company said Thursday its board has suspended quarterly dividend payments while management refines its capital allocation policy to be consistent with a long-term turnaround strategy.

AstraZeneca ( AZN ) has cancelled a plan to invest 450 million pounds ($558.3 million) in a UK vaccine plant in Liverpool. Its shares were down 0.4%.