Healthcare stocks were lower late Monday afternoon, with the NYSE Healthcare Index down 0.2% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.3%.

The iShares Biotechnology ETF (IBB) added 1.7%.

In corporate news, OmniAb (OABI) unveiled a partnership with Eli Lilly (LLY) on a new ion-channel drug discovery program, while raising its fiscal 2026 cash and cash equivalents guidance. OmniAb shares jumped 12%, and Lilly was up 0.4%.