04:03 PM EDT, 06/12/2025 (MT Newswires) -- Health care stocks rose late Thursday afternoon, with the NYSE Health Care Index adding 0.9% and the Health Care Select Sector SPDR Fund (XLV) up 0.8%.

The iShares Biotechnology ETF (IBB) advanced 0.9%.

In corporate news, Novo Nordisk ( NVO ) shares rose 2.8%. The firm said it will move its subcutaneous and oral amycretin candidate for weight management into phase 3 clinical development.

Urogen Pharma ( URGN ) shares surged 49%. The company's Zusduri treatment was approved by the US Food and Drug Administration to treat adults with a type of bladder cancer.

BioNTech (BNTX) agreed to buy CureVac ( CVAC ) in an all-stock deal with an equity value of about $1.25 billion to strengthen its oncology portfolio. CureVac ( CVAC ) shares jumped 37%, and BioNTech was down 0.5%.

Cardinal Health ( CAH ) lifted its fiscal 2025 earnings guidance and provided a preliminary bottom-line outlook above market estimates at the midpoint for the following year. Cardinal shares popped 4.5%.