Healthcare stocks rose late Monday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each adding 0.5%.

The iShares Biotechnology ETF (IBB) was falling 1.2%.

In corporate news, Eli Lilly (LLY) is likely to post a strong volume growth in Q3 that is expected to outweigh pricing headwinds, RBC Capital Markets said in a note. The company's Q3 results are due Oct. 29. Lilly shares added 0.5%.

Steris (STE) shares rose 1.9% after the company said Monday its STERIS Corp. unit agreed to buy specialty surgical products company Xodus Medical and some affiliates for $2.1 billion at closing.

Biogen (BIIB) shares gained 2.2% after JPMorgan upgraded the stock to overweight from neutral, with a $300 price target.

Bristol-Myers Squibb (BMY) said the death of a patient with idiopathic pulmonary fibrosis given a higher dose of admilparent was likely not related to the treatment, Bloomberg reported Monday, citing a company spokesperson. Bristol-Myers Squibb shares were down 2.7%.

Regeneron (REGN) shares rose 1.9% after it said Monday that 84-week results from the phase 3 Optima trial for Pasatru showed sustained efficacy in halting new, rogue bone growth outside of the skeleton and in reducing disease flare-ups in adults with ultra-rare genetic disorder fibrodysplasia ossificans progressiva, supporting long-term disease control.