01:35 PM EDT, 06/08/2026 (MT Newswires) -- Healthcare stocks were lower Monday afternoon, with the NYSE Healthcare Index shedding 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.3%.

The iShares Biotechnology ETF (IBB) fell 1%.

In corporate news, Johnson & Johnson ( JNJ ) decreased 0.8% after the company said Monday that it has agreed to acquire cancer drug developer Firefly Bio for $1 billion in cash to strengthen its oncology portfolio.

Incyte ( INCY ) agreed to acquire Vega Therapeutics, a subsidiary of Star Therapeutics, in a deal worth up to $2 billion, expanding its hematology portfolio into bleeding disorders. Shares fell 3%.

Eli Lilly ( LLY ) shares rose 2.2% after the drugmaker said its experimental obesity drug retatrutide delivered significant weight loss in two clinical studies and also showed "meaningful" improvements in knee osteoarthritis pain and sleep apnea.