09:08 AM EDT, 08/08/2024 (MT Newswires) -- Health care stocks rose pre-bell Thursday, with the iShares Biotechnology ETF ( IBB ) up 1.1% and the Health Care Select Sector SPDR Fund ( XLV ) advancing by 1.4% recently.

Eli Lilly ( LLY ) shares rose nearly 12% after it reported higher Q2 non-GAAP earnings and revenue. The company also increased its full-year guidance for non-GAAP earnings per share and revenue.

Royalty Pharma ( RPRX ) shares were more than 1% higher after it reported a Q2 operating income of $270 million, up from $249 million a year earlier.

Insmed ( INSM ) shares declined more than 4% after it reported a Q2 net loss of $1.94 per diluted share, widening from $1.78 a year earlier.