01:50 PM EDT, 06/04/2024 (MT Newswires) -- Health care stocks rose Tuesday afternoon with the NYSE Health Care Index adding 0.4% and the Health Care Select Sector SPDR Fund (XLV) up 0.2%.

The iShares Biotechnology ETF (IBB) was little changed, erasing earlier losses.

In corporate news, Amarin ( AMRN ) shares fell 12%. Patrick Holt resigned as chief executive officer to pursue other opportunities, and Aaron Berg, executive vice president and president of the US Business, was named as successor.

Gilead Sciences ( GILD ) shares rose 0.8%. The company agreed to make a one-time payment of up to $40 million to 2,625 plaintiffs to resolve claims related to the pending federal tenofovir disoproxil fumarate litigation in the US District Court for the Northern District of California.

Silo Pharma ( SILO ) shares jumped 11% after the company submitted a pre-investigational new drug briefing package and meeting request to the US Food and Drug Administration for its SPC-15 treatment for post-traumatic stress disorder and stress-induced anxiety disorder.