01:57 PM EDT, 05/02/2025 (MT Newswires) -- Health care stocks advanced Friday afternoon with the NYSE Health Care Index rising 1.6% and the Health Care Select Sector SPDR Fund (XLV) adding 1.3%.

The iShares Biotechnology ETF (IBB) climbed 1.3%.

In corporate news, Novo Nordisk ( NVO ) shares jumped 5.4% after Health Canada accepted for review a supplemental new drug submission for semaglutide 2.4 mg as a once weekly treatment for people with metabolic dysfunction-associated steatohepatitis.

The US Department of Justice filed a complaint in federal court alleging that three of the country's largest health insurance companies offering Medicare Advantage plans paid "hundreds of millions of dollars in kickbacks" to insurance brokers from 2016 through at least 2021 to steer beneficiaries toward their plans. The DOJ named CVS Health's ( CVS ) Aetna, Elevance Health ( ELV ) and Humana (HUM) in the case, as well as brokers eHealth (EHTH), GoHealth ( GOCO ) and SelectQuote. CVS shares fell 3.3%, Elevance added 0.3%, Humana rose 0.7%, eHealth fell 3.1% and GoHealth ( GOCO ) dropped 4.8%.

Adaptive Biotechnologies ( ADPT ) shares jumped 35%, a day after the company reported a narrower loss and higher revenue in Q1.