Sector Update: Health Care

Health care stocks were rising late Wednesday afternoon, with the NYSE Health Care Index up 1% and the Health Care Select Sector SPDR Fund (XLV) adding 1.2%.

The iShares Biotechnology ETF (IBB) climbed 1.3%.

In corporate news, Novo Nordisk's NOVO_B weight-loss drugs Wegovy and Ozempic could bankrupt the US health care system if the prices are not reduced, a report shared by Bernie Sanders, chairman of the Senate Health, Education, Labor and Pensions Committee, suggested Wednesday. Novo Nordisk shares were rising 1.3%.