Sector Update: Healthcare Stocks Gain Late Afternoon

03:48 PM EDT, 10/29/2026 (MT Newswires) -- Healthcare stocks were higher late Thursday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each adding 2%. The iShares Biotechnology ETF (IBB) edged up 0.1%. In corporate news, Eli Lilly (LLY) and Merck (MRK) reported Q3 results above Wall Street's estimates on Thursday, driven by strong demand for their flagship drugs. Lilly shares jumped 6.4%, and Merck climbed up 4.5%. Glaukos (GKOS) shares surged 32% after the company raised its 2026 revenue guidance following better-than-expected Q3 results. Perrigo (PRGO) shares were up 0.4% after the firm said it will divest its infant formula business to MeridianMade in a deal worth up to $175 million. Novavax (NVAX) rose 1.1%. The company said it has earned a $125 million milestone payment with the start of Sanofi's (SNY) phase 3 influenza-COVID-19 combination vaccine trial utilizing its Nuvaxovid vaccine.