Healthcare stocks rose late Monday afternoon with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each adding 0.3%.

The iShares Biotechnology ETF (IBB) rose 0.8%.

In corporate news, Eli Lilly (LLY) plans to pursue larger pharmaceutical deals as it looks to expand into new therapeutic areas, Bloomberg reported, citing an interview with CEO David Ricks on the sidelines of a diabetes conference in Milan. Ricks cited infectious disease, women's health, and psychiatric conditions as possible areas of opportunity in a broadening search for pharmaceutical deals, the report said. Lilly shares were up 0.4%.