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: A, MRKGR, ABBV, RPRX, HCA, LLY, 29 June 2026

NOVNSW High Grade Credit

United StatesAgilent issued $600 million 4.900% notes due 2032. Merck KGaA announced the

Healthcare

acquisition of Bio-Techne for $11.3 billion. The deal is expected to close late this year or

early next year, and adds to the company’s life sciences portfolio across research, Andrew Kaplan

bioprocessing and advanced therapeutics. AbbVie announced the acquisition of Apogee ResearchBofAS Analyst

Therapeutics for $10.9 billion, with an expected close in the third quarter. The deal adds a +1 646 855 8748

andrew.kaplan@bofa.com

diverse pipeline that focuses on dermatologic, respiratory, and other related inflammatory

and immunological diseases. S&P upgraded Royalty Pharma to BBB from BBB-. S&P also VritikaResearchPatniAnalyst

upgraded HCA Healthcare to BBB from BBB-. Eli Lilly signed research and development BofAS

+1 646 855 7042

collaborations with Abbisko Therapeutics and BioArctic for up to $1.9 billion and $770 vritika.patni@bofa.com

million, respectively. Eli Lilly also closed its acquisition of Centessa Pharmaceuticals.

Novartis entered into a multi-target oncology collaboration with Antares Therapeutics for

$105 million upfront and up to $1.8 billion in milestones. Agilent closed its acquisition of

Biocare Medical.

Stock symbols and abbreviations

Healthcare outperformed the IG Index last week AMRKGR AgilentMerck KGaA

The ICE BofA IG Healthcare index outperformed the ICE BofA IG index, at 0.40% versus ABBV AbbVie

0.31% on a total-return basis. Healthcare Facilities led other subsectors, with a total RPRX Royalty Pharma

HCA HCA Healthcare

return of 0.43%.