03:55 PM EST, 11/12/2025 (MT Newswires) -- Health care stocks rose late Wednesday afternoon with the NYSE Health Care Index gaining 1.6% and the Health Care Select Sector SPDR Fund (XLV) adding 1.5%.

The iShares Biotechnology ETF (IBB) increased 0.7%.

In corporate news, Eli Lilly ( LLY ) will discontinue CVS Health's ( CVS ) drug benefit plans for its employees after the pharmacy chain's benefits unit, Caremark, stopped covering its Zepbound weight-loss drug in favor of Novo Nordisk's ( NVO ) Wegovy, Bloomberg reported. Eli Lilly ( LLY ) shares rose 2.8%. CVS gained 1.1%, and Novo climbed 2.2%.

AbbVie ( ABBV ) is terminating its decade-long partnership with Calico Life Sciences, an Alphabet-backed (GOOG) biotech company dedicated to aging research, STAT+ reported. AbbVie ( ABBV ) shares rose 3.9%.

Centessa Pharmaceuticals ( CNTA ) shares jumped 17%, a day after the company priced its public offering of 11.6 million American depositary shares, each representing one ordinary share, at $21.50 apiece, for expected gross proceeds of $250 million.

Bristol-Myers Squibb ( BMY ) and the Sarah Cannon Research Institute expanded their strategic collaboration, aiming to accelerate the development of cancer therapies and to increase clinical trial access for US patients. Bristol-Myers shares added 0.9%.