Health care stocks rose late Monday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each adding 0.9%.

The iShares Biotechnology ETF (IBB) climbed 1.4%.

In corporate news, Celcuity (CELC) shares surged 38% after it reported phase 3 data showing its experimental drug gedatolisib significantly improved progression-free survival in people with advanced breast cancer.

Blackstone (BX) and TPG (TPG) are in advanced talks to buy Hologic (HOLX), in a deal that may value the medical device maker at more than $17 billion, including debt, Bloomberg reported. Hologic shares gained 3.1%.

Merck (MRK) said it has started construction of a $3 billion pharmaceutical manufacturing facility at its Elkton, Virginia, site. Separately, Merck reported new long-term data showing the sustained survival benefits of Keytruda in treating non-small cell lung cancer. The shares were up 1.9%.

Cooper (COO) is under pressure from activist investor Jana Partners, which has built a stake in the company and is pushing for strategic alternatives, including a potential merger of its contact-lens business with Bausch + Lomb (BLCO), the Wall Street Journal reported Sunday. Cooper shares climbed 4.3%, and Bausch + Lomb jumped 4.9%.

Kenvue (KVUE) shares were down 1.3% after it said Sunday it urged the US Food and Drug Administration to reject a citizen petition for an autism warning on Tylenol, the over-the-counter drug to treat pain and reduce fever, including during pregnancy.