Health care stocks were flat to higher premarket Tuesday, with the iShares Biotechnology ETF (IBB) inactive and the Health Care Select Sector SPDR Fund (XLV) up 0.3%.

Cardinal Health (CAH) shares were down more than 9% after the company reported fiscal Q4 revenue that missed analysts' expectations and said it will provide about $1.90 billion to The Specialty Alliance, its management services organization platform, for the acquisition of Solaris Health.

Amphastar Pharmaceuticals (AMPH) shares were up more than 4% after the company said it has entered into an exclusive licensing agreement with Nanjing Anji Biotechnology to develop and commercialize three peptide-based therapies in the US and Canada.

Valneva (VALN) stock was up more than 7% after the company reported a higher H1 revenue.