No. of Recommendations: 5
Some factors that might partly contribute to 'why the last few years earnings amounted to nothing':
1) GLP1 agonists prevent the development of diabetes. A large part of Novo's non-GLP1 business is making insulin - 50% of global supply.
2) Higher risk environment for pharma with Trump; e.g. forcing down prices (which happened to Novo), threatening tariffs.
3) Higher bond rates, bigger discount on future earnings perhaps.
4) Possibly Trump's friends front-running this announcement which just came out hours ago:
https://www.ft.com/content/25ecf952-2fca-4ac0-9f72..."Trump administration announces new tariffs on pharmaceuticals "
https://www.euractiv.com/news/trump-hits-eu-innova..." Trump hits EU innovative pharma with 15% tariffs
Branded drugs face duties for the first time, while generics remain exempt "
TRS
