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We view the IRA green energy tax credits in the House Ways and Means Committee as a worst-case scenario. We believe that, in aggregate, these tax breaks won’t get worse when the Senate cobbles together…

We continue to assign high odds that the reconciliation / tax bill will pass by late July / early August. The bill included many corporate and individual tax provisions. We focus on the corporate provisions…

Yesterday’s CMS proposal confirms our suspicion that the agency would seek to tighten state provider taxes – primarily those on managed care [ELV, UNH, CNC, MOH, CVS, CI, OSCR]– used to secure sizable federal Medicaid…

We continue to believe that President Trump’s reciprocal tariffs face a real risk from the U.S. Court of International Trade (CIT) case, V.O.S. Selections, Inc. v. Trump, which will be heard today. In what might…

Investors should view today’s drug pricing Executive Order (EO) with relief, and while the biopharma industry remains on notice for potential future regulatory actions, we suspect the courts would intervene to stop any overly broad…

This week is an important week for the reconciliation / tax bill as three important committees plan to mark up their versions of the bill. In addition, President Trump is scheduled to sign an executive…

The House Energy & Commerce Committee’s (E&C) reconciliation draft (text and summary) seems to largely align with our expectations regarding cuts / risks in Medicaid, Obamacare, and pharmacy benefit managers (PBM).  While there were still…

On the heels of the UK trade deal announced this morning, we have the following updates on: China trade talks; The U.S. Court of International Trade reciprocal trade case; and Potential semiconductor tariffs. On trade…

Apropos of our note on the subject earlier today, there are reports this afternoon that as early as Monday, May 12 President Trump “is expected to sign an executive order directing aides to pursue ……

The list of potential state and federal legislative threats to pharmacy benefit managers (PBMs) [CI, CVS, UNH, ELV, GDRX] seems to be growing, even though there has not been widespread enactment of these bills. Putting…