03:38 PM EST, 01/29/2026 (MT Newswires) -- Health care stocks were mixed late Thursday afternoon, with the NYSE Health Care Index up 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) fractionally lower.

The iShares Biotechnology ETF (IBB) added 0.2%.

In corporate news, InMode ( INMD ) shares jumped 5.8% in Thursday trading, a day after Steel Partners said in a letter to shareholders that it made an offer for 51% of the company at $18 a share.

Eli Lilly ( LLY ) and Repertoire Immune Medicines are launching a collaboration to develop tolerizing therapies for autoimmune diseases. Lilly shares rose 0.1%.

Astrazeneca ( AZN ) shares were shedding 0.4% after the company said Thursday it plans to invest $15 billion in China through 2030 on manufacturing of medicine, as well as research and development.

Merck ( MRK ) is expected to invest about $30 million for roughly 10% of shares in Eikon Therapeutics' initial public offering, Bloomberg reported. Merck ( MRK ) shares rose 2.1%.