01:51 PM EST, 03/07/2024 (MT Newswires) -- Health care stocks gained Thursday afternoon with the NYSE Health Care Index rising 1.2% and the Health Care Select Sector SPDR Fund (XLV) up 0.6%.

The iShares Biotechnology ETF (IBB) climbed 0.6%.

In corporate news, Novo Nordisk ( NVO ) shares jumped 9.2% and its market valuation topped $608.6 billion after the Danish drugmaker said its experimental obesity drug showed greater weight loss in early data.

Teladoc (TDOC) said it's expanding its obesity and weight-management offering with new features that include helping plan sponsors and pharmacy-benefit managers manage costs. The stock rose 5.8%.

Mind Medicine (MNMD) surged 54% after the US Food and Drug Administration awarded breakthrough designation to the company's MM120 program for treating generalized anxiety disorder.