While deal activity buoyed sentiment, individual performance remained fragmented. Merck faced a significant setback in Europe after a Dutch court ruled in favor of Halozyme Therapeutics, which alleged unauthorized use of its MDASE technology. The injunction bars Merck from selling an injectable version of its blockbuster oncology drug, Keytruda, across eight markets including France, Sweden, and the Netherlands.
In section Market Quotes
Health Care Stocks Rally as Investors Pivot to Defensive Assets
Investors flocked to health care stocks as broader market volatility triggered a rotation into defensive sectors, underscored by a massive $8.9 billion acquisition of U.K. pharmacy chain Boots. The Weston family’s investment vehicle secured the deal, effectively moving the retailer out from under the Sycamore Partners umbrella.
Separately, Becton Dickinson is recalibrating its operational footprint. Chief Executive Tom Polen confirmed the company is expanding U.S. manufacturing capabilities, a move designed to insulate hospital supply chains from systemic fragility and potential tariff-related disruptions.
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