02:04 PM EDT, 07/09/2024 (MT Newswires) -- Health care stocks were higher Tuesday afternoon, with the NYSE Health Care Index rising 0.1% and the Health Care Select Sector SPDR Fund (XLV) up 0.2%.

The iShares Biotechnology ETF (IBB) added 0.6%.

In corporate news, CVS Health's ( CVS ) Caremark, UnitedHealth's (UNH) Optum, and Cigna's (CI) Express Scripts are among the top six pharmacy middlemen that contribute to higher drug costs and challenge the viability of independent pharmacies, the US Federal Trade Commission said Tuesday in an interim report on pharmacy benefit managers. CVS shares were rising 0.7%, UnitedHealth was up 0.7% and Cigna added 1%.

Soligenix ( SNGX ) shares skyrocketed 360% after the company reported positive results of a study evaluating extended HyBryte treatment in people with early-stage cutaneous T-cell lymphoma.

Tempus AI's ( TEM ) topline is expected to increase at a 27% compound annual growth rate to $1.8 billion in 2028 from $532 million last year, Morgan Stanley said Tuesday. The firm started coverage of Tempus with an overweight rating and a $44 price target. Tempus shares were down 1.2%.