Major Pharma Got a Major Win Last Night - BMO
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BMO Capital analyst Alex Arfaei said a Trump presidency, Republican controlled congress, and apparent defeat of CA Prop 61 as significantly positive developments for major Pharma because they should lead to:
1) lower drug pricing pressure in the U.S.,
2) potential repeal of Obamacare with more industry friendly reforms,
3) increased probability for lower corporate tax rates, and profit repatriation, which should in turn lead to increased capital returned to shareholders and more M&A.
"We see the news as positive for our entire coverage universe, particularly for PFE (NYSE: PFE)," he said.
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