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: BAYNGR, LLY, VTRS, AZN, GEHC, 20 July 2026

RVTY, GSK, MDT High Grade Credit

United StatesBayer issued $5.0 billion of debt in a five-part deal. The company issued $1.0 billion

Healthcare

5.125% notes due 2031, $750 million 5.375% notes due 2033, $1.5 billion 5.625% notes

due 2036, $500 million 6.250% notes due 2046, and $1.25 billion 6.375% notes due 2056. Andrew Kaplan

Eli Lilly announced the acquisition of AtaiBeckley for $2.8 billion upfront, with a Contingent ResearchBofAS Analyst

Value Right representing an additional potential $1.0 billion. The deal advances therapies +1 646 855 8748

andrew.kaplan@bofa.com

for treatment-resistant depression and other mental health conditions, and is expected to

close in the third quarter. Viatris announced that it plans to sell up to a $363 million stake VritikaResearchPatniAnalyst

in Biocon. AstraZeneca entered an exclusive global license agreement with Dizal BofAS

+1 646 855 7042

Pharmaceutical for $600 million upfront and milestones up to $900 million. The deal vritika.patni@bofa.com

complements AstraZeneca’s portfolio of medicines targeting EGFR mutations. GE

HealthCare and Catholic Health entered a ten year, $500 million partnership to expand

advanced imaging and AI-enabled healthcare services. S&P revised its outlook on Revvity

to stable from negative. GSK completed its acquisition of Nuvalent. Medtronic completed

Stock symbols and abbreviations

its acquisition of SPR Therapeutics. BAYNGR Bayer

LLY Eli Lilly

Healthcare underperformed the IG Index last week VTRS Viatris

The ICE BofA IG Healthcare index underperformed the ICE BofA IG index, at -0.19% AZN AstraZeneca

GEHC GE HealthCare