Health care stocks were edging higher premarket Wednesday, with the State Street Health Care Select Sector SPDR ETF (XLV) up 0.4% and the iShares Biotechnology ETF (IBB) 0.3% higher.

Boston Scientific (BSX) shares were up more than 5% after the company reported higher Q1 adjusted earnings and net sales.

Merck (MRK), Germany's Merck KGaA and Japan's Ono Pharmaceutical have expressed interest in Inhibrx Biosciences' (INBX) experimental cancer medicine that could be valued at more than $8 billion, Reuters reported, citing people familiar with the matter. Inhibrx Biosciences stock was up more than 48% pre-bell.

Healthcare Services Group (HCSG) shares were up more than 22% after the company reported higher Q1 earnings and revenue.