Sector Update: Health Care

Health care stocks rose Friday afternoon with the NYSE Health Care Index gaining 0.3% and the Health Care Select Sector SPDR Fund (XLV) up 0.2%.

The iShares Biotechnology ETF (IBB) eased 0.1%.

In corporate news, Novavax NVAX shares doubled after the company announced a licensing agreement with Sanofi SAN to co-commercialize the former's adjuvanted COVID-19 vaccine and develop combination vaccines that also protect against influenza. Sanofi climbed 0.8%.