01:51 PM EDT, 08/13/2024 (MT Newswires) -- Health care stocks were advancing Tuesday afternoon, with the NYSE Health Care Index rising 1.2% and the Health Care Select Sector SPDR Fund (XLV) up 0.9%.

The iShares Biotechnology ETF (IBB) gained 1%.

In corporate news, Baxter International ( BAX ) shares tumbled 6% after the company said Tuesday it has agreed to sell its kidney care segment to Carlyle (CG) for $3.8 billion.

Elanco Animal Health ( ELAN ) shares jumped 6% after Chief Executive Jeffrey Simmons disclosed a recent stock purchase.

Apollomics ( APLM ) shares popped 7% in recent trading after the company reported "positive" preliminary data from a phase 2 trial of vebreltinib to treat people with non-central nervous system solid tumors.