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Following our pre-rule report yesterday on CMS’s proposal to extend Medicare / Medicaid coverage to anti-obesity medications (AOMs), we update our assumptions below based on the details included in the release itself. More specifically: We…

We have the following comments about President-elect Trump’s posts last night on Truth Social regarding tariffs on China, Mexico and Canada:   We doubt that Trump’s call for an additional 10% tariff on Chinese products due…

While likely implying a ~2% revenue tailwind for LLY and NVO, if implemented, we take a cautious view of this morning’s surprise White House announcement that it intends to facilitate broader Medicare / Medicaid coverage…

In a positive surprise relative to our initial expectations, CMS’s CY25 payment rate of $592 for EXAS’s Cologuard Plus represents a 16% premium to the legacy test’s $509. While this falls slightly shy of the…

Key Takeaways: The risk overhang from potential Medicaid reforms to managed care organizations, hospitals, behavioral facilities, and other providers focused on these low-income enrollees will likely grow as the Trump administration staffs up and Congress…

Key Takeaways: With investors questioning RFK’s reported plans to restructure the medical coding system used by Medicare, Medicaid, and commercial health insurers , we remain highly skeptical of meaningful changes within the next 5-10 years,…

We believe the concerns over cuts/changes to the Supplemental Nutrition Assistance Program (SNAP)/food stamp program are overblown as a result of the Republican sweep, whether RFK Jr. is confirmed as Secretary of Health and Human…

President Trump’s surprise and unorthodox nomination of Dr. Mehmet Oz to be CMS administrator, whom we presume will likely be confirmed, affords somewhat of a blank slate for others in the administration to fill in…

With Congress in the second week of the lame duck session and as President-elect Trump continues to make headlines, there are several issues important to investors that we want to touch base on, including:   How…

With likelihood growing that Congress focuses on emergency spending and a short-term continuing resolution funding the government into Q1 next year during this lame duck period, we expect that translates to Congress punting on nearly-annual,…