Health care stocks were mixed premarket Tuesday as the Health Care Select Sector SPDR Fund (XLV) was 0.2% higher and the iShares Biotechnology ETF (IBB) was recently down 0.6%.
Poseida Therapeutics (PSTX) shares surged past 227% after the company said it has agreed to be acquired by Roche Holdings in a deal that has an equity value of about $1.5 billion on a fully diluted basis.
Eli Lilly (LLY) shares were up over 3% and Novo Nordisk (NVO) shares over 2% higher after the White House announced a proposal to expand Medicaid and Medicare coverage to include more anti-obesity indications for the companies' popular weight loss and diabetes drugs.
Amgen (AMGN) said a phase 2 study showed that its investigational obesity drug MariTide caused an up to 20% average weight loss after a year in people living with obesity or overweight without type 2 diabetes without plateauing. Amgen shares fell past 11% pre-bell.
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