01:42 PM EDT, 03/31/2026 (MT Newswires) -- Health care stocks rose Tuesday afternoon, with the NYSE Health Care Index adding 1.5% and the State Street Health Care Select Sector SPDR ETF (XLV) up 1.3%.

The iShares Biotechnology ETF (IBB) climbed 4.1%.

In corporate news, Eli Lilly ( LLY ) on Tuesday agreed to buy UK-based Centessa Pharmaceuticals ( CNTA ) in a deal worth up to $7.8 billion as the drugmaker aims to strengthen its neuroscience pipeline and expand into sleep medicine. Lilly shares gained 3.2%, and Centessa surged more than 44%.

Biogen (BIIB) has agreed to acquire Apellis Pharmaceuticals ( APLS ) for about $5.6 billion in cash plus contingent value rights tied to global net sales of Syfovre, the companies said Tuesday. Biogen shares fell 4.2%, and Apellis soared 136%.

Agios Pharmaceuticals ( AGIO ) shares gained more than 18% after the company said it plans to pursue US accelerated approval for mitapivat in sickle cell disease following a pre-supplemental new drug application meeting with the US Food and Drug Administration.