Sector Update: Healthcare
Healthcare stocks were mixed premarket Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.5% lower and the iShares Biotechnology ETF (IBB) up 0.4%. Novartis (NVS) stock was down more than 1% after the company said it agreed to acquire privately held Myricx Bio for $1.1 billion upfront, with up to $400 million in milestone payments.
Healthcare stocks were mixed premarket Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.5% lower and the iShares Biotechnology ETF (IBB) up 0.4%.
Novartis (NVS) stock was down more than 1% after the company said it agreed to acquire privately held Myricx Bio for $1.1 billion upfront, with up to $400 million in milestone payments.