03:59 PM EST, 11/04/2025 (MT Newswires) -- Health care stocks advanced late Tuesday afternoon with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each rising 0.5%.

The iShares Biotechnology ETF (IBB) fell 0.8%.

In corporate news, Royalty Pharma ( RPRX ) acquired a royalty interest in Alnylam Pharmaceuticals' ( ALNY ) Amvuttra from Blackstone (BX) Life Sciences-managed funds for $310 million. Royalty Pharma ( RPRX ) shares rose 1.3%.

Merck ( MRK ) shares rose 1.6% after it said Tuesday that it has signed a $700 million funding agreement with Blackstone unit Blackstone Life Sciences to support the development of sacituzumab tirumotecan, an experimental cancer drug.

Metsera ( MTSR ) shares rose more than 20% after it said Tuesday its board determined that an amended acquisition proposal from Novo Nordisk ( NVO ) constitutes a "superior company proposal" as defined under its existing merger agreement with Pfizer ( PFE ) . Novo shares were down 2%, and Pfizer ( PFE ) was shedding 1.4%.

Inspire Medical Systems ( INSP ) shares jumped nearly 16% after Wells Fargo upgraded the stock following better-than-expected Q3 results.