04:04 PM EDT, 08/08/2024 (MT Newswires) -- Health care stocks were advancing late Thursday afternoon, with the NYSE Health Care Index gaining 2.3% and the Health Care Select Sector SPDR Fund (XLV) rising 1.9%.

The iShares Biotechnology ETF (IBB) climbed 2.3%.

In corporate news, Bausch Health's ( BHC ) plan to spin off its eyecare unit Bausch + Lomb is stalled due to a disagreement between major shareholders and debtholders, The Wall Street Journal reported Thursday. Bausch Health ( BHC ) shares popped 5.5%.

ICU Medical ( ICUI ) shares surged 24% in recent trading, a day after the company reported Q2 results that surpassed market expectations.

Eli Lilly ( LLY ) shares jumped 8.8%. The company lifted its full-year outlook on Thursday after delivering stronger-than-expected Q2 results, boosted by demand for its Mounjaro diabetes treatment and weight-loss drug Zepbound.

CVS Health ( CVS ) Chief Executive Karen Lynch is taking direct responsibility for the company's Aetna insurance business after the drugstore chain missed expectations in the most recent quarter, she said Wednesday during a CNBC interview. CVS shares were adding 2.6%.