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Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<ul><li>Large pharma’s bounce from the mostly ineffective Most- Favored-Nation (MFN) executive order was short-lived, as new CMS draft guidance for Medicare price negotiations threatened certain drug combos.</li><li>President Trump’s MFN executive order lacked a clear plan to lower drug prices, with any immediate moves likely facing legal challenges.</li><li>Listen to the WTR Biotech Flashcast for our MFN take.</li></ul>

Large pharma’s bounce from the mostly ineffective Most- Favored-Nation (MFN) executive order was short-lived, as new CMS draft guidance for Medicare price negotiations threatened certain drug combos.President Trump’s MFN executive order lacked a clear plan to lower drug prices, with any immediate moves likely facing legal challenges.Listen to the WTR Biotech Flashcast for our MFN take.

Biopharma Week in Review MFN Fears Overdone but Medicare Negotiation Changes Reapplied Pressure

<ul><li>The forced resignation of the FDA’s CBER Director Peter Marks shook the biopharma market, as he called out RFK Jr.’s goal of confirming vaccine “misinformation and lies.”</li><li>President Donald Trump’s broad reciprocal tariffs weakened biopharma further, as the exemption for pharmaceuticals was unclear and eventual tariffs on drug products are now largely expected.</li><li>The FDA uncertainty and stagflation fears remain an overhang on the industry. </li></ul>

The forced resignation of the FDA’s CBER Director Peter Marks shook the biopharma market, as he called out RFK Jr.’s goal of confirming vaccine “misinformation and lies.”President Donald Trump’s broad reciprocal tariffs weakened biopharma further, as the exemption for pharmaceuticals was unclear and eventual tariffs on drug products are now largely expected.The FDA uncertainty and stagflation fears remain an overhang on the industry. 

Biopharma Week in Review - Concerning FDA Resignation; Tariffs Trigger Deeper Selloff

<ul><li>RFK Jr. was confirmed as HHS Secretary a day before health agencies were hit by the broad federal layoffs ordered by Trump.</li><li>About 5,200 federal health jobs were cut through the weekend, including at the FDA, NIH, and CDC (STAT), but RFK Jr. could further reduce the FDA workforce, having vowed to overhaul the regulatory agency.</li><li>At a certain point, the drug review process would slow down, negatively affecting biopharma. Also at risk are user fees (PDUFA), which start renegotiations this year and could be targeted by RFK Jr.’s efforts to cut FDA ties with the industry. </li></ul>

RFK Jr. was confirmed as HHS Secretary a day before health agencies were hit by the broad federal layoffs ordered by Trump.About 5,200 federal health jobs were cut through the weekend, including at the FDA, NIH, and CDC (STAT), but RFK Jr. could further reduce the FDA workforce, having vowed to overhaul the regulatory agency.At a certain point, the drug review process would slow down, negatively affecting biopharma. Also at risk are user fees (PDUFA), which start renegotiations this year and could be targeted by RFK Jr.’s efforts to cut FDA ties with the industry. 

<ul><li>We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.</li><li>Last week, SRRK gained from muscle-building data in SMA, with positive read-through for obesity and BHVN.</li><li>WW joined HIMS in selling NVO GLP-1 copies, while the FDA backed off on LLY copiers after a lawsuit.</li></ul>

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.Last week, SRRK gained from muscle-building data in SMA, with positive read-through for obesity and BHVN.WW joined HIMS in selling NVO GLP-1 copies, while the FDA backed off on LLY copiers after a lawsuit.

Biopharma Week in Review - October 14, 2024

<ul>
<li>We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.</li>
<li>Last week, BMY received landmark antipsychotic approval, while BHVN finally scored a win in rare genetic SCA.</li>
<li>AMGN had approvable data in atopic dermatitis and gMG, but not enough to dethrone REGN and ARGX. </li>
</ul>


We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.
Last week, BMY received landmark antipsychotic approval, while BHVN finally scored a win in rare genetic SCA.
AMGN had approvable data in atopic dermatitis and gMG, but not enough to dethrone REGN and ARGX. 


Biopharma Week in Review - September 30, 2024

United States

Travere Therapeutics, Inc. is a biopharmaceutical company. The Company focuses on identifying, developing, and delivering therapies to people living with rare disease. Travere Therapeutics serves customers worldwide.

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Travere Therapeutics (TVTX US)

Biopharma Week in Review MFN Fears Overdone but Medicare Negotiation Changes Reapplied Pressure

President Trump’s MFN executive order lacked a clear plan to lower drug prices, with any immediate moves likely facing legal challenges.

Water Tower Research

Biopharma Week in Review - Concerning FDA Resignation; Tariffs Trigger Deeper Selloff

he forced resignation of the FDA’s CBER Director Peter Marks shook the biopharma market, as he called out RFK Jr.’s goal of confirming vaccine...

Water Tower Research

Biopharma Week in Review

RFK Jr. was confirmed as HHS Secretary a day before health agencies were hit by the broad federal layoffs ordered by Trump.

Water Tower Research

Biopharma Week in Review - October 14, 2024

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&A. Last week, SRRK gained from...

Water Tower Research

Biopharma Week in Review - September 30, 2024

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&A. Last week, BMY received...

Water Tower Research

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