Health care stocks were declining premarket Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.9% lower and the iShares Biotechnology ETF (IBB) down 1.1%.

Novo Nordisk (NVO) planned to sell its weight loss drugs on Hims & Hers Health's (HIMS) platform, Bloomberg reported, citing an unnamed person familiar with the matter. Shares of Hims & Hers Health were up more than 46% pre-bell.

Hutchmed (HCM) stock was down nearly 4% after the company said it has initiated the withdrawal and recall of Tazverik in mainland China, Hong Kong and Macau after Ipsen decided to voluntarily withdraw the drug from the US market.

Xenon Pharmaceuticals (XENE) shares were up more than 43% after the company said topline results show its phase 3 X-TOLE2 study of azetukalner met its primary endpoint of median percent change in monthly focal onset seizures frequency in both dose groups in 12 weeks compared to placebo.