Mizuho's Jared Holz on Tariffs, Pharma Industry, and Eli Lilly's Obesity Drug

Impact of Tariffs on the Healthcare Industry

• 📌 The 15% tariff cap is presented as one piece of a larger economic policy puzzle for the healthcare industry.
• 💡 Despite negative headlines, the industry is expected to handle and absorb the 15% tariff, especially if it remains at that level.
• ⚠️ The healthcare sector has faced challenges, but its fundamental importance ensures its continued relevance.

Market Opportunities in Pharma

• 🎯 Investors should be cognizant of the macro orientation of the market, balancing tariffs with other economic factors like Federal Reserve actions.
• 📈 There's an observed uplift in mid-cap names and those benefiting from potential rate cuts, placing pharma in a complex position.
• 🚀 The strategy suggested is to buy on dips in sectors like pharma when high-flying tech stocks experience a downturn.

Eli Lilly's Oral Obesity Drug Potential

• 💊 Jared Holz remains optimistic about Eli Lilly, specifically its oral obesity drug.
• 💡 He believes the pill version of the GLP-1 treatment could be a blockbuster, potentially appealing to individuals averse to injectables.
• ⚠️ While the drug is about a year away and adverse events were noted in data, using low doses for weight maintenance might mitigate concerns and lead to significant success.