01:49 PM EDT, 10/22/2025 (MT Newswires) -- Health care stocks rose Wednesday afternoon, with the NYSE Health Care Index up 0.6% and the Health Care Select Sector SPDR Fund (XLV) adding 0.9%.

The iShares Biotechnology ETF (IBB) was shedding 1.2%.

In sector news, the Trump administration is preparing a new investigation into drug pricing for Americans, the Financial Times reported. The probe would fall under Section 301 of the US Trade Act of 1974 and would examine whether consumers in other countries are underpaying for drugs, the report said.

In corporate news, Intuitive Surgical ( ISRG ) shares jumped over 13% after it reported stronger-than-expected Q3 results, driven by double-digit growth in global procedure volumes.

Thermo Fisher Scientific ( TMO ) raised its full-year outlook on Wednesday as the medical device manufacturer reported better-than-expected fiscal Q3 results. Its shares added 1.8%.

Alkermes ( ALKS ) has agreed to buy Avadel Pharmaceuticals ( AVDL ) in a cash deal worth up to $2.1 billion as the Ireland-based biopharmaceutical company seeks to break into the sleep medicine market, the companies said Wednesday. Alkermes ( ALKS ) shares were down 0.5%, and Avadel rose 3.9%.