4
Shared Docs
4
Same-Page
4 / 4
Mentions
Investment Strategy
ng the Financial Services Scheme, do not a errill Lynch Global Research policies relating to conflicts of interest are de
at current levels. The fundamental bull case for Health rests on the strong pipeline of new products for
Quantitative Analysis
s®, | Lynch clients and may not be redistributed, Lynch Global Research reports are distributed horized use or disclosur
ervices 1,720 Tax credit for orphan drug research Health 100 Exclusion & deferral of policyholder income e
®, | Lynch clients and may not be redistributed, Lynch Global Research reports are distributed horized use or disclosure
-12 1% 78 3.0% -13 % 33 -0.4% 6 68% -0./% SXDP (Health) 3.0% -08% 1% 8.7% 0.9% 9 2% 115 2.5% -12 3% 40
up 6.75% on the back of a strong seasonal rally errill Lynch Global Research. Prices reflective of most recently available dat
3% -] 2% 74 3.1% = 2% 3.2 -0.4% 0 54% 0.9% SXDP (Health) 3.1% -0.6% 2% 86% 0.9% -/ 2% 115 24% -14 2% 4]
Entities connected to both BofA Merrill Lynch Global Credit Research and HealthCap

Donald Trump
PERSON
Merrill Lynch
ORGANIZATION
Michael Bloomberg
PERSON
Bank of America
ORGANIZATION
United Kingdom
LOCATIONMerrill Lynch International Incorporated
ORGANIZATIONthe Securities and Futures Bureau
ORGANIZATIONMerchant Bank
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATION
Frankfurt
LOCATIONThe Financial Service Board
ORGANIZATION
Bank of America Corporation
ORGANIZATION
Seoul
LOCATIONMerrill Lynch (Asia Pacific) Limited
ORGANIZATIONthe Financial Supervisory Service
ORGANIZATIONMerrill Lynch KSA Company
ORGANIZATIONMerrill Lynch Argentina SA
ORGANIZATIONILynch
ORGANIZATIONthe Prudential Regulation Authority
ORGANIZATION
Bank of America, N.A.
ORGANIZATION