01:42 PM EDT, 10/30/2025 (MT Newswires) -- Health care stocks advanced Thursday afternoon, with the NYSE Health Care Index 0.6% higher and the Health Care Select Sector SPDR Fund (XLV) up 0.5%.

The iShares Biotechnology ETF (IBB) increased 0.6%.

In corporate news, Eli Lilly ( LLY ) lifted its full-year outlook and reported Q3 results above market expectations as sales of its Mounjaro diabetes treatment and weight-loss drug Zepbound more than doubled year over year. Its shares jumped 4.2%.

Guardant Health ( GH ) shares surged 26% after the company reported overnight better-than-expected Q3 results and raised its full-year revenue forecast.

Novo Nordisk ( NVO ) said Thursday it has submitted an unsolicited proposal to buy Metsera ( MTSR ) for $56.50 per share and contingent value rights for up to $21.25 per share in cash.

Separately, Metsera ( MTSR ) said Novo's proposal is a "superior company proposal" to Pfizer's ( PFE ) bid. Novo shares were down 2.0%, Pfizer ( PFE ) was up 0.5%, and Metsera ( MTSR ) climbed 24%.