BofA IG Healthcare Weekly: Vital Signs

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BofA IG Healthcare Weekly: Vital Signs

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BofA IG Healthcare Weekly

Vital Signs

Industry Overview

Healthcare Highlights: NOVO, IQV, SDZSW, LLY, GILD 08 June 2026

The sector priced $2.5 billion of debt with Novo Nordisk (CHF 1.09 billion) and IQVIA (€950 High Grade Credit

million) tapping the market. Novo Nordisk issued CHF 180 million 0.575% notes due 2029, United States

CHF 400 million 0.9425% notes due 2032, CHF 335 million 1.315% notes due 2036, and Healthcare

CHF 175 million 1.6325% notes due 2041. IQVIA issued €950 million 4.625% notes due Andrew Kaplan

2033. Moody’s revised its outlook on Sandoz to positive from stable. Eli Lilly entered a Research Analyst

licensing and research collaboration with Haisco Pharmaceutical Group to develop BofAS+1 646 855 8748

medicines across multiple therapeutic areas. Eli Lilly will pay $87 million upfront and up to andrew.kaplan@bofa.com

$2.967 billion in milestones. The company also entered a licensing agreement with Hanmi Vritika Patni

Research Analyst

Pharmaceutical for its phase 2 GLP-2 agonist, and will pay $75 million upfront and up to BofAS

$1.185 billion in milestones. Eli Lilly expanded its licensing and collaboration agreement +1 646 855 7042

vritika.patni@bofa.com

with Camurus involving amylin therapeutics. Eli Lilly will pay up to $290 million in upfront

development and regulatory milestone payments, as well as $580 million in sales based

milestones. Gilead completed its acquisition of Ouro Medicines.

Healthcare outperformed the IG Index last week Stock symbols and abbreviations

The ICE BofA IG Healthcare index outperformed the ICE BofA IG index, at 0.08% versus DHR Danaher

NOVO Novo Nordisk

0.03% on a total-return basis. Managed Care led other subsectors, with a total return of IQV IQVIA

0.17%.