Health care stocks rose Monday afternoon, with the NYSE Health Care Index adding 2% and the Health Care Select Sector SPDR Fund (XLV) up 2.1%.
The iShares Biotechnology ETF (IBB) rose 0.7%.
In corporate news, Walgreens Boots Alliance (WBA) shares fell 6.4% after CNBC's David Faber reported the company's talks with Sycamore Partners on a go-private deal are "mostly dead," according to media reports.
Sage Therapeutics (SAGE) said Monday its board rejected Biogen's (BIIB) unsolicited, non-binding proposal to buy Sage shares not already owned by Biogen for $7.22 per share. Sage shares rose 4.8% and Biogen was adding 1.8%.
Allakos (ALLK) said Monday its phase 1 trial of AK006 in chronic spontaneous urticaria failed to demonstrate therapeutic efficacy and that its development will be terminated immediately. Its shares dropped 78%.
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