The upcoming presidential election will have a major impact on the biotech sector

From Investing.com: 2024-07-28 05:31:03

The upcoming presidential election is set to have a major impact on the biotech sector, according to Evercore ISI. The VP pick for Harris is crucial for appealing to suburban voters, with Mark Kelly considered a potential candidate. Healthcare will be an important issue, with drug pricing and tough IRA negotiations in focus for both Trump and Harris.

Evercore ISI anticipates one rate cut before the election if Trump is re-elected. A credible Treasury Secretary could counter inflationary policies like tariffs. Tensions with the Fed may arise if Trump pursues certain economic policies. The GOP is expected to maintain control of the Senate, while the House outcome is less certain.

Despite the limited role of the VP, healthcare remains a critical issue in the election. Potential economic policies under a Trump presidency could lead to clashes with the Fed. Senate and House election results are uncertain, but the biotech sector’s future will depend on post-election policies and political dynamics.



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