Health care stocks were declining premarket Friday, with The Health Care Select Sector SPDR Fund (XLV) 0.6% lower and the iShares Biotechnology ETF (IBB) down 1.1%.
Walgreens Boots Alliance (WBA) shares were up over 13% after the company reported fiscal Q1 results that topped analyst expectations, with a year-over-year increase in revenue.
Royalty Pharma (RPRX) shares were up more than 4% after the company said it has agreed to acquire its external manager, RP Management for about $1.10 billion, including 24.5 million in shares that will vest over five to nine years, about $100 million in cash, and the assumption of $380 million of debt.
Neogen (NEOG) shares were down more than 9% after the company lowered its fiscal 2025 revenue guidance.
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