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The Fund generally will invest at least 90% of its total assets in securities that comprise the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, ICE Data Indices, LLC (ICE Data or the Index Provider) compiles and maintains the Underlying Index, which is composed of common stocks of U.S. pharmaceutical companies. These companies are engaged principally in the research, development, manufacture, sale or distribution of pharmaceuticals and drugs of all types.

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Trump quiere que las farmacéuticas vuelvan a EE. UU. ¿Cómo afectarán sus aranceles a las acciones del sector?

Trump presiona a farmacéuticas con aranceles para forzar regreso a EE. UU.

The Trump Administration is reportedly mulling over a policy to match U.S. drug prices with those in other developed nations. 
What Happened:&nbsp;The Trump Administration is&nbsp;contemplating a policy to align U.S. drug prices with lower rates in other developed countries. The policy is likely to be enforced by the agency responsible for&nbsp;Medicare and Medicaid health programs, reported Reuters&nbsp;citing sources from the pharmaceutical industry.
The sources highlighted this policy as the pharmaceutical industry&#8217;s primary concern, surpassing other government actions under consideration, such as tariffs on imported medicines. One source labeled it as the most significant &#8220;existential&nbsp;threat to the industry and&nbsp;U.S. biosciences innovation.&#8221;
Though the Trump Administration hasn't directly addressed reference pricing, the conservative America First Policy Institute suggested it could be included in Medicare's drug price negotiations.
The industry trade group, PhRMA, has already approached Congress earlier this year regarding this issue, known as international reference pricing. The first source expressed apprehension about the potential upheaval this policy could trigger in the healthcare market, beyond just pharmaceuticals.
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/25/04/44935195/elizabeth-warren-says-if-trump-illegally-fires-fed-chair-powell-hell-crash-our-markets-cause-more-economic-p" target="_blank" rel="noreferrer noopener">Elizabeth Warren Says, &#8216;If Trump Illegally Fires Fed Chair Powell, He&#8217;ll Crash Our Markets, Cause More Economic Pain To American Families&#8217;</a>
Why It Matters: Under Biden&#8217;s Inflation Reduction Act, the U.S. began negotiating prices for its costliest drugs. However, the negotiated prices for the first 10 drugs remain over twice as high—and sometimes five times higher—than what drugmakers charge in other wealthy nations. During his first term, President Donald Trump&#8216;s attempt to implement an international reference pricing program was halted by a court ruling.
The current report by Reuters comes on the heels of President Trump&#8217;s executive order <a href="https://www.benzinga.com/government/regulations/25/04/44851905/trumps-new-order-targets-drug-pricing-transparency-and-medicare-cost-reduction">aimed </a>at lowering drug prices and reducing Medicare costs signed earlier this month. The order instructed the Secretary of Health and Human Services to seek guidance for the Medicare Drug Price Negotiation Program for the initial price applicability year 2028 and how drugmakers should implement the set prices in 2026, 2027, and 2028. 
This potential move is perceived as a major threat to the pharmaceutical industry. Boston University's Rena Conti told Reuters that drugmakers might respond to international reference pricing by raising prices in reference countries, potentially justifying higher U.S. prices and increasing global revenue.
Invesco Pharmaceuticals ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJP#NYSE">PJP</a>) and iShares U.S. Pharmaceuticals ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>) declined 8.6% and 7.5%, respectively over the past month.
Price Action: During the pre-market session on Wednesday, Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) gained 2.39%, Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) and Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) climbed 1.16% and 1.07%, respectively. Meanwhile, Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) edged 0.48% higher.
<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/44930938/dogecoin-jumps-7-shiba-inu-up-4-is-a-major-meme-rally-brewing" target="_blank" rel="noreferrer noopener">Dogecoin Jumps 7%, Shiba Inu Up 4%: Is A Major Meme Rally Brewing? &#8211; Benzinga</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump Administration Considers Lowering US Drug Prices To International Levels: Report

Even as President Donald Trump paused the reciprocal tariffs for 90 days on Wednesday, he later confirmed in a conversation with reporters at his Oval Office that pharmaceutical companies would face tariffs.
What Happened: The rally in pharma stocks was short-lived after the stocks reversed course on Thursday. When a reporter asked President Trump if he would go ahead and levy tariff duties on pharmaceutical stocks, he said, &#8220;Yeah, well, I will be because we want them coming back.&#8221;
&#8220;You know, we realized during COVID-19 that we don&#8217;t make our drugs and our pharmaceuticals in this country. So, I realized that, and it was a big realization,&#8221; he added.
Citing the emergency during COVID-19, he stated that he wanted the pharma companies to produce drugs in the U.S.
&#8220;We had to go to China to get drugs, we had to go to other places, we don&#8217;t make it. That&#8217;s because we let them leave, and now if they want to come back, we&#8217;re going to put tariffs on the pharmaceutical companies, and they&#8217;re going to all want to come back,&#8221; Trump said.
The pharma stocks tumbled on Thursday after Trump&#8217;s confirmation of tariffs.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Pharma Stocks</td>
<td>Thursday&#8217;s Performance</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>Eli Lilly And Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>)</td>
<td>-4.35%</td>
<td>-7.35%</td>
<td>-5.09%</td>
</tr>
<tr>
<td>AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>)</td>
<td>-3.14%</td>
<td>-2.92%</td>
<td>3.99%</td>
</tr>
<tr>
<td>Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)</td>
<td>-6.10%</td>
<td>-11.15%</td>
<td>2.73%</td>
</tr>
<tr>
<td>Regeneron Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>)</td>
<td>-5.26%</td>
<td>-23.60%</td>
<td>-40.63%</td>
</tr>
<tr>
<td>Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>)</td>
<td>-3.87%</td>
<td>-18.87%</td>
<td>-18.03%</td>
</tr>
<tr>
<td>Gilead Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>)</td>
<td>-3.66%</td>
<td>10.36%</td>
<td>47.71%</td>
</tr>
<tr>
<td>Merck &amp; Co Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>)</td>
<td>-5.32%</td>
<td>-21.80%</td>
<td>-38.53%</td>
</tr>
<tr>
<td>Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>)</td>
<td>-3.33%</td>
<td>8.54%</td>
<td>4.23%</td>
</tr>
<tr>
<td>Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>)</td>
<td>-1.51%</td>
<td>3.24%</td>
<td>-0.07%</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/markets/equities/25/04/44755181/pentagon-slashes-5-1-billion-in-accenture-deloitte-booz-allen-contracts-thats-a-lot-of-consulting">Pentagon Slashes $5.1 Billion In Accenture, Deloitte, Booz Allen Contracts: &#8216;That&#8217;s A Lot Of Consulting&#8217;</a>
Why It Matters: Despite a 90-day pause on reciprocal tariffs, base global tariffs of 10% and China tariffs of 125%, along with sector-specific tariffs of 25% on steel and aluminum, auto, and auto parts remain in place. Adding to it, the President hinted that he could soon announce tariffs on pharmaceutical companies.
Here are some of the pharmaceutical industry-linked exchange-traded funds that could be impacted.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Pharma ETFs</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>VanEck Pharmaceutical ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPH#NASDAQ">PPH</a>)</td>
<td>-7.02%</td>
<td>-7.51%</td>
</tr>
<tr>
<td>iShares US Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)</td>
<td>-7.04%</td>
<td>-6.08%</td>
</tr>
<tr>
<td>Invesco Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJP#NYSE">PJP</a>)</td>
<td>-10.13%</td>
<td>-4.37%</td>
</tr>
<tr>
<td>SPDR S&amp;P Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPH#NYSE">XPH</a>)</td>
<td>-14.05%</td>
<td>-11.45%</td>
</tr>
<tr>
<td>KraneShares MSCI All China Health Care Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KURE#NYSE">KURE</a>)</td>
<td>2.88%</td>
<td>0.35%</td>
</tr>
<tr>
<td>First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXH#NASDAQ">FTXH</a>)</td>
<td>-11.54%</td>
<td>-10.18%</td>
</tr>
<tr>
<td>Direxion Daily Pharmaceutical &amp; Medical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PILL#NYSE">PILL</a>)</td>
<td>-41.35%</td>
<td>-43.86%</td>
</tr>
</tbody>
</table>
</figure>
Price Action: After Thursday&#8217;s fall, following Wednesday&#8217;s rebound, the Nasdaq 100 index was 17.46% lower than its previous high of 22,222.61 points. The S&amp;P 500 index was down 14.31% from its record of 6,147.43 points, and the Dow Jones declined 12.16% from its 52-week high of 45,073.63 points.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, ended lower on Thursday. The SPY was down 4.38% to $524.58, while the QQQ declined 4.25% to $446.18, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
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<li><a href="https://www.benzinga.com/government/regulations/25/04/44728276/spy-qqq-call-volumes-spiked-minutes-before-tariff-pause-announcement-alexandria-ocasio-cortez-demands-disclosure-from-congress-members" target="_blank" rel="noreferrer noopener">SPY, QQQ Call Volumes Spiked Minutes Before Tariff Pause Announcement: Alexandria Ocasio-Cortez Demands Disclosure From Congress Members</a></li>
</ul>
Photo courtesy: Shutterstock

Eli Lilly, AbbVie, Bristol Myers, Regeneron, And Other Pharma Companies Slide As Donald Trump Confirms Tariffs On Pharma Companies

FDA commissioner Robert Califf&#8217;s <a target="_blank" href="https://www.benzinga.com/general/biotech/21/11/24301293/robert-califfs-speedy-confirmation-vote-as-fda-head-likely-delayed-see-why" rel="noreferrer noopener">second term is anticipated</a> to end in 2025, and all eyes are now on who will be the next to take the position after Donald Trump is elected president for the second time.
He was <a target="_blank" href="https://www.fda.gov/about-fda/fda-organization/robert-califf" rel="noreferrer noopener">elected</a> to head the agency in February 2022. Califf was briefly the agency&#8217;s commissioner under the Obama administration beginning in 2016.
At a conference <a target="_blank" href="https://www.youtube.com/live/hQ7rYiJTcmU" rel="noreferrer noopener">hosted</a> by the Friends of Cancer Research, Califf acknowledged the uncertainty President-elect Donald Trump&#8217;s return to the White House raises for the agency workforce.
He is &#8220;disappointed&#8221; about the election&#8217;s outcome. &#8220;I think we just don&#8217;t know what&#8217;s going to happen.&#8221;
At the Tuesday conference, Califf added, &#8220;The gist of this administration, from everything that&#8217;s been said, is that they want to change a lot of things, and how it gets changed depends on who gets appointed into key positions and how the various policies play out.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41866438/donald-trumps-second-term-could-reshape-us-healthcare-system-with-major-impacts-on-affordable-care-act-and-medicare" rel="noreferrer noopener">Donald Trump&#8217;s Second Term Could Reshape US Healthcare System, With Major Impacts on Affordable Care Act And Medicare</a>
Asked whether FDA employees are eying the exits, Califf said, &#8220;people are waiting to see.&#8221;
Asked to respond to Robert F. Kennedy Jr&#8217;s statements about clearing FDA groups focused on nutrition and other issues, Califf suggested the agency is limited in addressing issues with the American diet <a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction" rel="noreferrer noopener">because of Congress</a>.
In an interview Califf said, &#8220;In times of change and chaos, there&#8217;s also opportunity,&#8221; he continued. &#8220;I will just comment, there&#8217;s a lot of things that I bet almost everyone in leadership positions in the health agencies would have liked to have changed but couldn&#8217;t because of the gridlock of various interests that made it difficult to change things.&#8221;
Callif said he believes the FDA is at &#8220;peak performance right now — and we&#8217;ll see what happens as the new team comes in.&#8221;
&#8220;From things that have been said, the change could happen internally or from external decisions made by the administration,&#8221; he said. &#8220;I just think we have to wait and see and have some faith that hard-working, high-quality people are still going to be in place and have support from — I hope — the external regulated community, which given the dynamics is likely to be the most important factor.&#8221;
While Califf hasn&#8217;t officially announced his departure from the FDA, he said today that &#8220;this is not the first time I&#8217;ve ridden out of town after an election.&#8221;
Read Next:
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<li><a href="https://www.benzinga.com/media/24/11/41915397/netflix-reaches-70-million-users-on-ad-supported-plan-boosts-live-sports-ads" target="_blank" rel="noreferrer noopener">Netflix Reaches 70 Million Users On Ad-Supported Plan, Boosts Live Sports Ads</a></li>
</ul>
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FDA Commissioner Califf Candid on Trump's Impact: 'We Just Don't Know What's Going to Happen'

The U.S. Food and Drug Administration (FDA) may approve <a href="http://Long Covid Remains Diagnostic Mystery, Diagnosis Remains Elusive; National Institutes of Health-Funded Study Shows">updated COVID-19 vaccines</a> this week to combat recent strains as the country endures its most significant summer outbreak in two years.
The FDA is expected to give the nod to updated mRNA vaccines from Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) and Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), which is collaborating with BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>), to fight a COVID strain called KP.2, CNN <a href="https://www.cnn.com/2024/08/16/health/fda-updated-covid-19-vaccines/index.html">reported</a> Sunday. 
It was uncertain whether the agency would approve Novovax, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) most recent vaccine for COVID&#8217;s JN.1 strain at the same time, the report said. 
Representatives for Pfizer and Moderna told CNN they have plenty of updated COVID vaccines ready for shipment to stores upon approval.
Novovax executives said in a conference call last week that the company&#8217;s updated vaccine would arrive in warehouses for distribution some time this month because its vaccine is based on protein technology and therefore takes longer to make.
Read Also: <a href="https://www.benzinga.com/general/biotech/24/07/39847869/covid-activity-is-elevated-across-26-states-in-summer-surge-biden-remains-in-isolation-3-vaccine-">COVID Activity Is Elevated Across 26 States In Summer Surge, Biden Remains In Isolation: 3 Vaccine Stocks To Watch</a>
Summer COVID Wave: Levels of the SARS-CoV-2 virus, COVID-19&#8217;s cause, measured in wastewater are at "very high" levels across the U.S., Centers for Disease Control and Prevention data shows. 
COVID waves result from waning immunity and new variants, according to experts. According to CDC data, the KP.3.1.1 strain accounts for 37% of cases over the last two weeks, tripling from a month ago.
KP.3.1.1 and KP.2 are both JN.1 offshoots, and all three are&nbsp;versions of the Omicron variant.
As of Aug. 13, COVID-19 infections are growing or likely growing in 25 states, declining or likely declining in five states and are stable or uncertain in 17 states, <a href="https://www.cdc.gov/cfa-modeling-and-forecasting/rt-estimates/index.html">according</a> to CDC data.
States where infections are growing include Alabama, North Dakota, South Dakota, Georgia, Kentucky, Massachusetts, New Hampshire, Vermont and Virginia.
Price Action: Moderna, Pfizer and Novovax made gains into Monday&#8217;s late-morning trading, while most of the exchange-traded funds that track them also trended upward.
ETFs with Moderna, which gained 1.72% to $88.33.
<ul>
<li>Langar Global HealthTech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LGHT#NYSE">LGHT</a>) ticked up 0.37%</li>
<li>Amplify Treatments, Testing and Advancements ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GERM#NYSE">GERM</a>) declined 1.13%</li>
<li>Invesco Nasdaq Biotechnology ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBBQ#NASDAQ">IBBQ</a>) edged up 1.28%</li>
</ul>
ETFs with Pfizer, which rose 1.55% to $28.74.
<ul>
<li>First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXH#NASDAQ">FTXH</a>) went up 1.19%</li>
<li>First Trust Morningstar Dividend Leaders Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDL#NYSE">FDL</a>) gained 0.73%</li>
<li>Invesco Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJP#NYSE">PJP</a>) rose 0.10%</li>
</ul>
ETFs with Novovax, which shot up 5.98% to $13.73.
<ul>
<li>ProShares Nanotechnology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TINY#NYSE">TINY</a>) slipped 0.62%</li>
<li>iShares Genomics Immunology and Healthcare ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDNA#NYSE">IDNA</a>) rose 0.89%</li>
<li>Virtus LifeSci Biotech Products ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBP#NYSE">BBP</a>) remained unchanged</li>
</ul>
Read Next:
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<li><a href="https://feeds2.benzinga.com/news/24/01/36635307/anthony-faucis-ex-boss-now-admits-covid-19-lab-leak-theory-is-credible-and-not-a-conspiracy">Anthony Fauci&#8217;s Ex-Boss Now Admits COVID-19 Lab Leak Theory Is Credible And &#8216;Not A Conspiracy&#8217;</a></li>
</ul>
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First Trust Morningstar Dividend Leaders Index Fund

ETFMG Treatments Testing and Advancements ETF

GERM

IBBQ

IDNA

LGHT

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NVAX

TINY

FDA Set To Approve COVID-19 Vaccines As Soon As This Week: Stocks, ETFs To Watch

The second-quarter results of the healthcare sector have been impressive, with earnings of 78.8% of the sector participants that have reported so far up 17.1% on 7.6% revenue growth. The earnings beat ratio of 85.7% and the revenue beat ratio of 75.5% are also assuring. Combining the actual results with the estimates for the still-to-report companies, the total earnings of the sector are expected to grow 16.6% on revenue growth of 8.5%.
Many industry bigwigs reported solid results, with some beating on earnings or revenues or both. However, the recent market rout has eroded some gains from the sector. As such, pharma ETFs have delivered mixed performances over the past month. iShares U.S. Pharmaceuticals ETF (ARCA:IHE), VanEck Vectors Pharmaceutical ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pph#NASDAQ">PPH</a>), SPDR S&amp;P Pharmaceuticals ETF (ARCA:XPH) and First Trust Nasdaq Pharmaceuticals ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ftxh#NASDAQ">FTXH</a>) have gained 0.3%, 1.1%, 0.07%, and 0.4% respectively, while Invesco Pharmaceuticals ETF (ARCA:PJP) has shed 0.1% in a month.
Let&#39;s delve deeper into the earnings of some of the bigwigs:
<h3>Earnings in Focus</h3>
Johnson and Johnson 
Johnson &amp; Johnson (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jnj#NYSE">JNJ</a>) continued with its long streak of earnings beat and also outpaced revenue estimates. Earnings per share came in at $2.82, beating the Zacks Consensus Estimate of $2.71 and improving 10.2% from the year-ago quarter. Revenues grew 4.3% year over year to $22.45 billion and fell short of the Zacks Consensus Estimate of $22.38 billion. For 2024, Johnson &amp; Johnson maintained its revenue guidance of $88-$88.4 billion, indicating year-over-year growth of 4.7%-5.2%. It lowered adjusted earnings per share guidance from $10.57-$10.72 to $9.97-$10.07. 
Pfizer 
Pfizer (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) topped estimates on both the top and bottom lines. It reported adjusted earnings per share of 60 cents, which beat the Zacks Consensus Estimate of 45 cents per share but declined 11% year over year. Revenues inched up 2% year over year to $13.28 billion and edged past the consensus mark of $13.13 billion. The U.S. drug giant raised its revenue guidance from $58.5-$61.5 billion to $59.5-$62.5 billion and adjusted earnings per share from $2.15-$2.35 to $2.45-$2.65 for 2024. 
Merck 
Merck (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrk#NYSE">MRK</a>) also topped earnings and revenue estimates. It posted earnings per share of $2.28, which surpassed the Zacks Consensus Estimate of $2.16. In the year-ago period, the company had incurred an adjusted loss of $2.06 per share. Revenues rose 79% year over year to $16.11 billion and edged past the consensus mark of $15.90 billion. Merck lifted the higher end of its revenue guidance from $63.1-$64.3 billion to $63.1-$64.4 billion but lowered the earnings per share guidance to $7.94-$8.04 from $8.53-$8.65. 
Bristol-Myers 
Bristol-Myers (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bmy#NYSE">BMY</a>) also reported better-than-expected results. It posted an earnings per share of $2.07, outpacing the Zacks Consensus Estimate of $1.64. Earnings came in higher than the year-ago earnings of $1.75. Revenues grew 9% year over year to $12.2 billion and edged past the Zacks Consensus Estimate of $11.5 billion. For 2024, Bristol-Myers now expects revenues to increase in the upper end of the low single-digit range versus the previous guidance of low single digits.&nbsp; It lifted its earnings per share guidance to 60-90 cents from 40-70 cents. 
Eli Lilly and Company 
Eli Lilly and Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lly#NYSE">LLY</a>) reported robust second-quarter 2024, beating earnings and revenue estimates. Earnings per share came in at $3.92, surpassing the Zacks Consensus Estimate of $2.64 and improving 86% from the year-ago number. Revenues rose 36% to $11.3 billion and edged past the estimated $9.83 billion. Eli Lilly increased its full-year outlook for the second time this year. It raised the revenue guidance to $45.4-$46.6 billion from $42.4-$43.6 billion and the adjusted earnings per share guidance to $16.10-$16.60 from $13.50-$14.00.
<h3>ETF Angle</h3>
iShares U.S. Pharmaceuticals ETF
iShares U.S. Pharmaceuticals ETF provides exposure to 36 U.S. companies that manufacture prescription or over-the-counter drugs or vaccines by tracking the Dow Jones U.S. Select Pharmaceuticals Index. The in-focus five firms are the top holdings in the basket, accounting for a combined 59.4% of the total assets, suggesting heavy concentration. iShares U.S. Pharmaceuticals ETF has $670.8 million in AUM and charges 39 bps in fees and expenses. It carries a Zacks ETF Rank #3 (Hold) with a High risk outlook. 
VanEck Vectors Pharmaceutical ETF
VanEck Vectors Pharmaceutical ETF follows the MVIS US Listed Pharmaceutical 25 Index and holds 26 stocks in its basket. The five firms collectively account for a 33.6% share in the fund&#39;s basket. The product has amassed $678.1 million in its asset base and charges 36 bps in annual fees. VanEck Vectors Pharmaceutical ETF carries a Zacks ETF Rank #2 (Buy) with a Medium risk outlook.
SPDR S&amp;P Pharmaceuticals ETF
SPDR S&amp;P Pharmaceuticals ETF provides exposure to pharma companies by tracking the S&amp;P Pharmaceuticals Select Industry Index. With AUM of $177.9 million, it holds 43 securities, with the in-focus firms making up about 4% share each. SPDR S&amp;P Pharmaceuticals ETF charges 35 bps in fees a year and has a Zacks ETF Rank #3 with a High risk outlook.
Invesco Pharmaceuticals ETF
Invesco Pharmaceuticals ETF offers exposure to companies that are principally engaged in the research, development, manufacture, sale, or distribution of pharmaceuticals and drugs of all types. It follows the Dynamic Pharmaceuticals Intellidex Index and holds 23 stocks in its basket, with the in-focus firms making up at least 5% share each. Invesco Pharmaceuticals ETF has AUM of about $283.8 million and charges 57 bps in fees and expenses. The ETF has a Zacks ETF Rank #3 with a High risk outlook.
First Trust Nasdaq Pharmaceuticals ETF
First Trust Nasdaq Pharmaceuticals ETF tracks the Nasdaq US Smart Pharmaceuticals Index, holding 50 securities in its basket. The in-focus five firms account for a combined 31.4% of the assets. FTXH has AUM of $18.3 million. First Trust Nasdaq Pharmaceuticals ETF charges 60 bps in annual fees and has a Zacks ETF Rank #3.
<a href="https://www.zacks.com/stock/news/2322190/pharma-etfs-in-focus-post-solid-q2-earnings?cid=CS-BENZ-FT-etf_news_and_commentary-2322190">To read this article on Zacks.com click here.</a>

Earnings

Earnings Beats

Large Cap

Sector ETFs

Guidance

Analyst Ratings

Pharma ETFs in Focus Post Solid Q2 Earnings

More than half of the states in the U.S. are experiencing <a href="https://www.benzinga.com/24/07/39829417/biden-gets-covid-19-takes-a-fiesty-dig-at-tesla-ceo-im-sick-of-elon-musk-and-his-rich-buddies-trying">significant Covid-19 activity </a>in wastewater, and President Joe Biden remains in isolation after announcing Wednesday he caught the virus for the third time.
Twenty-six states are reporting either &#8220;high&#8221; or &#8220;very high&#8221; levels of the virus at various sites, according to the latest<a href="https://www.cdc.gov/nwss/rv/COVID19-currentlevels.html"> data </a>from the Centers for Disease Control and Prevention.
States with the highest levels include Arkansas, California, Florida, Maryland, Nevada, Oregon and Texas. 
The Biden administration no longer considers Covid-19 a public health emergency and instead treats it as a routine respiratory virus to be prevented through an annual vaccination campaign, the Washington Post <a href="https://www.washingtonpost.com/health/2024/07/18/biden-covid-summer-wave-symptoms-flirt-variant/">reported</a>.
Also Read: <a href="https://www.benzinga.com/general/biotech/24/07/39823289/european-commission-faces-court-criticism-over-covid-vaccine-contract-transparency-ahead-of-vote-">European Commission Faces Court Criticism Over COVID Vaccine Contract Transparency Ahead Of Vote on Ursula Von Der Leyen&#8217;s Reappointment</a>
Biden is staying at his Rehoboth Beach home in Delaware while continuing to perform presidential duties.
Vaccine Stocks To Watch: Novovax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) and Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) are all making new Covid vaccines that should be available before the end of September, the New York Times <a href="https://www.nytimes.com/article/long-covid-vaccine.html">reported</a>.
The Novavax vaccine will target JN.1, the variant that was prominent in the winter and spring.
Pfizer and Moderna are developing shots aimed at KP.2, which accounts for about one in four new cases. Two related variants, KP.3 and LB.1, are the culprint behind more than half of new cases, the Times said. 
All three variants are descendants of JN.1, so each of the vaccines is expected to be effective against them.
NVAX, MRNA, PFE Price Action: Novovax shares were down 5.7% to $14.94 late in Thursday&#8217;s session. Moderna was down 2.16% to $121.37. Pfizer is down 1.07% at $29.70. 
Exchange-traded funds that hold shares of Pfizer, which has the largest market capitalization of the group of vaccine developers at $169 billion, declined in Thursday afternoon trading. 
<ul>
<li>First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTHX#NASDAQ">FTHX</a>) fell 0.35%.</li>
<li>First Trust Morningstar Dividend Leaders Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDL#NYSE">FDL</a>) slipped 0.69%.</li>
<li>Invesco Pharmceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PJP#NYSE">PJP</a>) slid 0.55%.</li>
<li>Harbor Health Care ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEDI#NYSE">MEDI</a>) lost 0.33%.</li>
<li>Invesco S&amp;P Ultra dividend Revenue ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDIV#NYSE">RDIV</a>) declined 0.66%.</li>
</ul>
Read Now: 
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<li><a href="https://www.benzinga.com/news/24/07/39770202/moderna-regeneron-pharmaceuticals-and-2-other-stocks-insiders-are-selling">Moderna, Regeneron Pharmaceuticals And 2 Other Stocks Insiders Are Selling</a></li>
</ul>
Photo via Shutterstock.

Movers

FTHX

MEDI

RDIV

COVID Activity Is Elevated Across 26 States In Summer Surge, Biden Remains In Isolation: 3 Vaccine Stocks To Watch

The Supreme Court has rejected a bankruptcy plan for OxyContin-maker Purdue Pharma that would have allocated billions from the wealthy Sackler family to combat opioid addiction, and the Sacklers would have been shielded from civil lawsuits related to their alleged <a target="_blank" href="https://www.benzinga.com/government/23/12/36072366/opioid-crisis-and-corporate-accountability-purdues-settlement-in-the-spotlight" rel="noreferrer noopener">role in the opioid crisis</a>.
The 5-4 decision marks a victory for a minority of opioid victims who voted against the settlement to continue pressing lawsuits against the Sackler family.
It is a setback for most victims and state and local governments who have <a target="_blank" href="https://www.benzinga.com/general/biotech/23/08/34064098/purdue-pharmas-trust-strategy-supreme-court-reviews-restructuring-amidst-opioid-crisis" rel="noreferrer noopener">accepted the settlement</a>.
The Wall Street Journal notes the ruling is among the highest-profile bankruptcy decisions ever from the high court, significantly weakening the ability of corporations and their insiders to use bankruptcy to resolve mass litigation.
Purdue Pharma, which introduced OxyContin in the late 1990s and made billions from the prescription painkiller, faced thousands of opioid lawsuits by 2019.
The company filed for Chapter 11 protection, though the Sackler family did not declare bankruptcy and moved much of their wealth to offshore trusts.
They agreed to pay $6 billion to settle civil claims, denying wrongdoing and arguing their settlement was the best way to fund <a target="_blank" href="https://www.benzinga.com/government/23/08/33748967/sackler-familys-6b-commitment-in-spotlight-supreme-court-suspends-purdue-pharmas-settlement-over-opi" rel="noreferrer noopener">addiction-fighting initiatives</a>.
In 2021, a New York bankruptcy court approved a reorganization <a target="_blank" href="https://www.benzinga.com/markets/cannabis/21/07/21902857/15-states-settle-with-opioid-maker-purdue-pharma-for-4-5b-the-most-that-individuals-have-ever-pa" rel="noreferrer noopener">plan for Purdue</a>.
The WSJ report <a target="_blank" href="https://www.wsj.com/us-news/law/supreme-court-rejects-purdue-pharma-deal-to-shield-sackler-family-7870205a?mod=hp_lead_pos1" rel="noreferrer noopener">added</a> that this plan included funds from the Sacklers&#8217; offshore trusts and ceded the company and its assets to creditors.
Most funds would go to state and local governments for opioid-related programs, with $750 million shared among roughly 130,000 individual opioid claimants.
While nearly all claimants accepted the plan, it required dissenters to accept immunity for the Sacklers from ongoing and future litigation, which many viewed as inadequate compensation.
The Justice Department opposed Purdue&#8217;s plan, arguing it would unlawfully extinguish individuals&#8217; rights to pursue civil lawsuits.
The Office of the U.S. Trustee appealed to the Supreme Court, stating that the plan gave the Sacklers an unprecedented release from liability.
Purdue lawyers argued that the third-party release was necessary under U.S. bankruptcy law to secure the Sacklers&#8217; $6 billion contribution.
Purdue lawyer Gregory Garre stated that blocking the settlement would result in the evaporation of funds for opioid abatement and compensation, leaving creditors and victims with nothing and potentially costing lives.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Legal

Purdue Pharma Bankruptcy Plan Rejected by Supreme Court, Billionaire Sacklers to Face Lawsuits

The first-quarter results of the healthcare sector have been unimpressive, with earnings of 78% of the sector participants that have reported so far down 31.2% despite 4.4% revenue growth. The earnings beat ratio of 93.9% and the revenue beat ratio of 75.8% are assuring, though. Combining the actual results with the estimates for the still-to-report companies, the total earnings of the sector are expected to decline 25.1% despite revenue growth of 7.1%. 
However, many industry bigwigs reported solid results, with some beating on earnings or revenues or both. As such, pharma ETFs have delivered mixed performances over the past month. iShares U.S. Pharmaceuticals ETF (ARCA:IHE), VanEck Vectors Pharmaceutical ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pph#NASDAQ">PPH</a>), SPDR S&amp;P Pharmaceuticals ETF (ARCA:XPH) and First Trust Nasdaq Pharmaceuticals ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ftxh#NASDAQ">FTXH</a>) have lost 3.7%,1.9%, 2.9%, and 3.1% respectively, while Invesco Pharmaceuticals ETF (ARCA:PJP) has added 0.8% in a month. 
Let&#39;s delve deeper into the earnings of some of the bigwigs:
<h3>Earnings in Focus</h3>
Johnson and Johnson 
Johnson &amp; Johnson (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jnj#NYSE">JNJ</a>) continued with its long streak of earnings beat but lagged revenue estimates. Earnings per share came in at $2.71, beating the Zacks Consensus Estimate of $2.64 and improving 12.4% from the year-ago quarter. Revenues grew 2% year over year to $21.38 billion and fell short of the Zacks Consensus Estimate of $21.4 billion. For 2024, Johnson &amp; Johnson revised its guidance from $88.2-$89.0 billion to $87.8-$88.6 billion, indicating year-over-year growth of 5.5%-6.0%. The adjusted earnings per share guidance was tightened from $10.55-$10.75 to $10.57 to $10.72. 
Pfizer 
Pfizer (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) topped estimates on both the top and bottom lines. It reported adjusted earnings per share of 82 cents, which beat the Zacks Consensus Estimate of 56 cents per share but declined 33% year over year. Revenues declined 20% year over year to $14.88 billion and fell short of the consensus mark of $13.96 billion. The U.S. drug giant reaffirmed its revenue guidance of $58.5-$61.5 billion and raised its adjusted earnings per share to $2.15-$2.35 from $2.05-$2.25 for 2024. 
Merck 
Merck (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrk#NYSE">MRK</a>) also topped earnings and revenue estimates. It posted earnings per share of $2.07, which surpassed the Zacks Consensus Estimate of $1.94 and increased 48% from the year-ago earnings. Revenues rose 9% year over year to $15.78 billion and edged past the consensus mark of $15.37 billion. Merck lifted the lower end of its revenue guidance. It now expects revenues in the range of $63.1-$64.2 billion from $62.7-$64.2 billion, while earnings per share are expected in the range of $8.53-$8.65 versus the prior expectation of $8.44-$8.59. 
Bristol-Myers 
Bristol-Myers (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bmy#NYSE">BMY</a>) also reported better-than-expected results. It posted a loss per share of $4.40, narrower than the Zacks Consensus Estimate of a loss of $4.53 per share. In the year-ago quarter, BMY posted adjusted earnings per share of $2.05. Revenues grew 5% year over year to $11.86 billion and edged past the Zacks Consensus Estimate of $11.46 billion. For 2024, Bristol-Myers expects revenues to increase in the low single digits while earnings per share are expected in the band of 40 cents to 70 cents, down from the earlier estimate of $7.10-$7.40, to reflect the dilutive impact of recent acquisitions and collaborations. 
Eli Lilly and Company 
Eli Lilly and Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lly#NYSE">LLY</a>) posted mixed first-quarter 2024 earnings, beating earnings estimates but lagging on revenues. Earnings per share came in at $2.58, surpassing the Zacks Consensus Estimate of $2.53 and improving 59% from the year-ago number. Revenues rose 26% to $8.77 billion but fell short of the estimated $8.81 billion. Eli Lilly raised the 2024 revenue guidance to $42.4-$43.6 billion from $40.4-$41.6 billion, while the adjusted earnings per share guidance was upped to $13.50-$14.00 from the prior projection of $12.20-$12.70.
<h3>ETF Angle</h3>
iShares U.S. Pharmaceuticals ETF 
iShares U.S. Pharmaceuticals ETF provides exposure to 34 U.S. companies that manufacture prescription or over-the-counter drugs or vaccines by tracking the Dow Jones U.S. Select Pharmaceuticals Index. The in-focus five firms are the top holdings in the basket, accounting for a combined 59% of the total assets, suggesting heavy concentration. iShares U.S. Pharmaceuticals ETF has $654.8 million in AUM and charges 40 bps in fees and expenses. It carries a Zacks ETF Rank #2 (Buy) with a High risk outlook. 
VanEck Vectors Pharmaceutical ETF 
VanEck Vectors Pharmaceutical ETF follows the MVIS US Listed Pharmaceutical 25 Index and holds 26 stocks in its basket. The five firms collectively account for a 33.2% share in the fund&#39;s basket. The product has amassed $512.7 million in its asset base and charges 36 bps in annual fees. VanEck Vectors Pharmaceutical ETF carries a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. 
SPDR S&amp;P Pharmaceuticals ETF 
SPDR S&amp;P Pharmaceuticals ETF provides exposure to pharma companies by tracking the S&amp;P Pharmaceuticals Select Industry Index. With AUM of $197.9 million, it holds 41 securities, with the in-focus firms making up about 4% share each. SPDR S&amp;P Pharmaceuticals ETF charges 35 bps in fees a year and has a Zacks ETF Rank #3 with a High risk outlook. 
Invesco Pharmaceuticals ETF 
Invesco Pharmaceuticals ETF offers exposure to companies that are principally engaged in the research, development, manufacture, sale, or distribution of pharmaceuticals and drugs of all types. It follows the Dynamic Pharmaceuticals Intellidex Index and holds 24 stocks in its basket, with the in-focus firms making up at least 5% share each. Invesco Pharmaceuticals ETF has AUM of about $270.2 million and charges 57 bps in fees and expenses. The ETF has a Zacks ETF Rank #3 with a High risk outlook. 
First Trust Nasdaq Pharmaceuticals ETF 
First Trust Nasdaq Pharmaceuticals ETF tracks the Nasdaq US Smart Pharmaceuticals Index, holding 50 securities in its basket. The in-focus five firms account for a combined 32.2% of the assets. FTXH has AUM of $19.9 million. First Trust Nasdaq Pharmaceuticals ETF charges 60 bps in annual fees and has a Zacks ETF Rank #2 (Buy).
<a href="https://www.zacks.com/stock/news/2269782/a-look-at-pharma-etfs-post-q1-earnings?cid=CS-BENZ-FT-etf_news_and_commentary-2269782">To read this article on Zacks.com click here.</a>

A Look at Pharma ETFs Post Q1 Earnings

<a href="https://www.youtube.com/watch?v=6pts9TMbsBk">https://www.youtube.com/watch?v=6pts9TMbsBk</a>

Politics

iShares Biotech ETF Up 1.2%, PowerShares Pharma ETF Up 1.4% Ahead Of Pres Trump Press Conference On Lowering Drug Prices

Each day, the Benzinga Pro news team highlights several stocks with Trading Idea potential. Be the first to see them by <a href="http://try.benzingapro.com/start-your-free-trial-tradefastertradesmarter">becoming a Benzinga Pro user</a>!
Trade Desk Inc (NASDAQ: <a class="ticker" href="/stock/ttd#NASDAQ">TTD</a>) stock soared nearly 30 percent early Friday morning in reaction to its <a rhef="https://www.marketwatch.com/story/trade-desk-stock-shoots-up-on-earnings-beat-for-adtech-company-2018-05-10">first-quarter earnings report</a>. The adtech company said it earned 34 cents per share in the quarter on revenue of $85.7 million versus estimates of 10 cents per share and $73.31 million. Management also guided its full-year 2018 revenue guidance to $433 million versus estimates of $403.96 million.
RXi Pharmaceuticals Corp (NASDAQ: <a class="ticker" href="/stock/rxii#NASDAQ">RXII</a>) gained more than 13 percent after <a href="https://www.benzinga.com/pressreleases/18/05/r11693974/rxi-pharmaceuticals-enters-into-material-transfer-agreement-with-iovan">announcing a new research collaboration.</a> The immuno-oncology therapeutics company said it will partner with Iovance Biotherapeutics to evaluate the potential synergies with RXi&#39;s novel sd-rxRNA therapeutic compounds and Iovance&#39;s autologous cell therapy.
PowerShares Dynamic Pharmaceuticals(ETF) (NYSE: <a class="ticker" href="/stock/pjp#NYSE">PJP</a>) could see increased volatility throughout Friday&#39;s trading session. President Donald Trump is expected to deliver to the public his administration&#39;s vision on tackling drug prices.
Stellar Biotechnologies Inc (NASDAQ: <a class="ticker" href="/stock/sbot#NASDAQ">SBOT</a>) lost more than 40 percent early Friday morning. The low-float play stock has seen high volatility over the past few weeks and announced a new offering of 2.075 million shares of its common stock at $2.65 per unit. Shares of the therapeutic vaccine pipeline maker closed Thursday at $3.88.
MoSys Inc. (NASDAQ: <a class="ticker" href="/stock/mosy#NASDAQ">MOSY</a>) gained more than 40 percent in reaction to its <a href="https://www.benzinga.com/pressreleases/18/05/g11689690/mosys-inc-reports-first-quarter-2018-financial-results">first-quarter earnings beat</a> on Thursday. The provider of semiconductor solutions said it earned 6 cents per share in the first quarter on revenue of $4.208 million versus expectations of a four cent per share loss and $3.95 million.
<il>Related Links:</il>
<a href="https://www.benzinga.com/news/18/05/11694299/22-stocks-moving-in-fridays-pre-market-session">22 Stocks Moving In Friday&#39;s Pre-Market Session</a>
<a href="https://www.benzinga.com/news/18/05/11694059/a-peek-into-the-markets-us-stock-futures-rise-ahead-of-import-prices-consumer-se">A Peek Into The Markets: US Stock Futures Rise Ahead Of Import Prices, Consumer Sentiment Data</a>

Pre-Market Outlook

MOSY

RXII

SBOT

Benzinga Pro's 5 Stocks To Watch Today

We are halfway through 2017 and pharma stocks have recovered nicely with their performance representing a sharp contrast to 2016 when the sector was under immense pressure due to the drug pricing issue. Another factor that weighed on pharma stocks last year was the noticeably lower number of FDA approvals. 2016 saw only 22 treatments gaining FDA approval, well below 45 approvals in 2015 and 41 in 2014. The industry was also hit by some high profile R&amp;D failures as well as mixed results, slower-than-expected new product launches and increasing competition.
&nbsp;
However, the sector has fared better this yearand the NYSE ARCA Pharmaceutical Index is up 10.1% year-to-date (YTD). New product sales ramp up, R&amp;D success and innovation, strong results, a higher number of FDA approvals and continued strong performance from legacy products are some of the factors that could contribute to a sustained recovery in the sector. Tax reforms and cash repatriation would support a recovery as well. (Read: <a href="https://www.zacks.com/stock/news/266090/forget-big-tech-biotech-etfs-are-soaring-higher">Forget Big Tech; Biotech ETFs are Soaring Higher</a>)
&nbsp;
Importantly, investors now seem to be more comfortable with the drug pricing scenario and are willing to look at the fundamentals of the sector. Although the drug pricing issue will remain a headwind this year as well, expectations are that steps taken by the Trump administration to drive down drug prices will not be as draconian as previously expected.&nbsp;
&nbsp;
Deregulation and increased competition seem to be some of the ways that will be used to control drug prices. FDA Commissioner Scott Gottlieb recently said that the agency is working on a plan to lower healthcare costs by speeding up the development of next-generation treatments, especially for rare diseases or targeted cancer therapies.
&nbsp;
Faster Drug Approval Process?
&nbsp;
At a meeting with pharma majors earlier this year, President Trump spoke about speeding up the FDA approval process. The President said that the FDA will be streamlined and the drug approval process will be much faster. The 21st Century Cures Act is a step in this direction.
&nbsp;
With the passing of this Act, expectations are that there will be more innovation in the sector and, maybe, a surge in new drug approvals. According to an IMSQuintiles report, the late-phase R&amp;D pipeline for the industry indicates that there should be about 40-45 new brand launches every year through 2021.
&nbsp;
Meanwhile, the FDA has already surpassed last year&#39;s total tally with 23 drugs being approved so far in 2017. &nbsp;(Read: <a href="https://www.zacks.com/stock/news/266846/how-to-build-a-winning-etf-portfolio-for-secondhalf-2017">How to Build a Winning ETF Portfolio for Second-Half 2017</a>)
&nbsp;
Will M&amp;As Pick Pace?
&nbsp;
There has been a lot of consolidation in the pharma industry over the last few years with quite a few deals being announced/completed in 2016. Expectations are high that M&amp;As will increase as the year progresses -- potential tax reform and cash repatriation are expected to lead to a boost in this area. While not too many deals have been announced so far in 2017, we could see several M&amp;A agreements being announced in the coming quarters though companies are wary of bidding wars leading to over-priced deals.
&nbsp;
Companies with innovative technologies and pipelines are highly sought after. Niche disease areas like nonalcoholic steatohepatitis (NASH), immuno-oncology and multiple sclerosis are in demand. Treatments for orphan diseases are also much sought after with quite a few deals being signed in these areas. (Read: <a href="https://www.zacks.com/stock/news/266243/best-leveraged-etfs-of-first-half-of-2017">Best Leveraged ETFs of First Half of 2017</a>)
&nbsp;
Innovative Pipelines &amp; Catalyst Rich 2017 
&nbsp;
Pharma companies continue to work on bringing innovative new treatments to market, and there could be significant catalysts in the coming quarters in the form of important new product approvals as well as major data read-outs especially in key therapeutic areas like immuno-oncology, Alzheimer&#39;s, central nervous system disorders, and immunology/inflammation.
&nbsp;
Cancer remains a key focus area. According to IMSQuintiles, 68 new cancer drugs were approved for 22 indications from 2011 to 2016 while worldwide costs for cancer therapeutics and supportive care drugs shot up from $91 billion in 2012 to $113 billion in 2016. More than 600 molecules are in late stage development with the majority being targeted therapy.
&nbsp;
Meanwhile, sales of products that gained approval over the last two years as well as line extensions should ramp up and boost growth.
&nbsp;
Pharma ETFs in Focus
&nbsp;
Highlighted below are some pharma ETFs - ETFs present a low-cost and convenient way to get a diversified exposure to the sector.
&nbsp;
Powershares Dynamic Pharmaceuticals ETF (ETF:PJP)
&nbsp;
PJP, launched in Jun 2005 by Invesco PowerShares, tracks the Dynamic Pharmaceuticals Intellidex Index. The fund covers healthcare stocks. The top 3 holdings include Celgene Corporation (5.24%), Amgen Inc. (5.14%) and AbbVie Inc. (5.01%). The total assets of the fund as of Jul 6, 2017 were $742.1 million representing 30 holdings. The fund&#39;s expense ratio is 0.57% while dividend yield is 0.81%. The trading volume is roughly 53,041 shares per day.
&nbsp;
SPDR S&amp;P Pharmaceuticals ETF (ETF:XPH)
&nbsp;
XPH, launched inJun 2006, tracks the S&amp;P Pharmaceuticals Select Industry Index. This ETF primarily covers pharma stocks with the top 3 holdings being Akorn, Inc. (5.27%), Jazz Pharmaceuticals plc (5.19%), and Endo International, plc (4.7%).
&nbsp;
Total assets as of Jul 6, 2017 were $458.5 million representing 38 holdings. The fund&#39;s expense ratio is 0.35% and dividend yield is 0.62%.The trading volume is roughly 58,019 shares per day.
&nbsp;
iShares U.S. Pharmaceuticals (ETF:IHE)
&nbsp;
IHE, launched in May 2006, seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Pharmaceuticals Index. The fund mainly consists of pharma companies (89.8%). Biotech companies account for about 10.1% of the fund.
&nbsp;
The top 3 holdings of this fund are Johnson &amp; Johnson (9.95%), Pfizer Inc. (8.21%) and Merck &amp; Co. Inc. (7.58%). The total assets of the fund as of Jul 6, 2017 were $693.7 million representing 41 holdings. The fund&#39;s expense ratio is 0.44% with the dividend yield being 1.25%. The trading volume is roughly 19,527 shares per day.
&nbsp;
Market Vectors Pharmaceutical (ETF:PPH)
&nbsp;
PPH was launched in Dec 2011 and tracks the Market Vectors U.S. Listed Pharmaceutical 25 Index. This ETF covers healthcare stocks. While the expense ratio is 0.35%, dividend yield is 1.95%. The trading volume is roughly 39,357 shares per day. The total assets of the fund as of Jul 6, 2017 were $276.8 million representing 26 holdings. The top 3 holdings of this fund are Johnson &amp; Johnson (8.63%), Novartis AG (6.4%) and AbbVie Inc. (5.17%).
&nbsp;
Conclusion
&nbsp;
Although fears regarding the drug pricing issue have waned, it will nevertheless remain a headwind until the Trump administration comes out with a policy for controlling drug prices. Meanwhile, increased pipeline visibility and appropriate utilization of cash should increase confidence in the sector.
&nbsp;
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What Lies Ahead For Pharma ETFs In Second Half 2017

Ahead of Election Day, &quot;Shark Tank&quot; investor Kevin O&#39;Leary shared a preview of a few trades he was considering in case Donald Trump <a href="http://www.benzinga.com/general/education/16/11/8654498/gamblers-are-hedging-their-election-bets-but-clinton-remains-heavy-f">wins the presidency</a>.

	O&#39;Leary&#39;s strategy centers around a big boost to biotech stocks given Democratic rhetoric towards the sector in the election cycle.

	Throughout the Democratic primary and general election, nominee Hillary Clinton and primary challenger Sen. Bernie Sanders frequently criticized biotech companies for increases in drug prices. Congressional hearings in recent years have found fault with price increases in the hundreds of percentage points from companies like Valeant Pharmaceuticals Intl Inc (NYSE: <a class="ticker" href="/stock/vrx#NYSE">VRX</a>) and Mylan NV (NASDAQ: <a class="ticker" href="/stock/myl#NASDAQ">MYL</a>).

	&ldquo;If you thought Trump was going to win and you&#39;re doing thematic trading, what interests me would be the healthcare sector: biotech, generics, large pharma domestic and medical devices companies,&rdquo; O&#39;Leary told Benzinga in an interview.

	O&rsquo;Leary thinks investors can take advantage of the pressure Democrats have put on the biotech sector in case of a Trump win, which he believes <a href="http://www.benzinga.com/general/politics/16/11/8651901/why-kevin-oleary-thinks-trump-could-still-win">is more likely</a> than polls suggest.

	&ldquo;I think you go long for every dollar you put 25 cents into IHI (iShares U.S. Medical Devices ETF (AMEX: IHI)), PJP (PowerShares Dynamic Pharmaceuticals (AMEX: PJP)), IBB (iShares Nasdaq Biotechnology Index Fund (NASDAQ: <a class="ticker" href="/stock/ibb#NASDAQ">IBB</a>)), JRX,&rdquo; O&#39;Leary said. &ldquo;They have had the living stuffing kicked out of them. Bernie Sanders did another number on pharma, [and the sector&rsquo;s] down another 100 basis points. This rhetoric is really compressing PEs. That&rsquo;s a trade I will probably put on, because I the data I&rsquo;ve seen on the polling tells me I have a 50/50 chance of Trump. If I end up being wrong anyways, I&rsquo;m buying at a material discount and extremely high yields past 3%. That&rsquo;s one way to go through next week and probably thematic trade for the next quarter,&rdquo; O&#39;Leary concluded.

	On November 18, O&#39;Leary will be sharing his 2017 investment outlook at the CFA Society of Detroit&#39;s Annual Forecast Luncheon. <a href="http://www.cfasociety.org/detroit/Lists/Events%20Calendar/DispForm.aspx?ID=322&amp;Source=https%3A%2F%2Fwww%2Ecfasociety%2Eorg%2Fdetroit%2Flists%2Fevents%2520calendar%2Fcalendar%2Easpx">See here</a> for more information.&ensp;

Interview

iShares Dow Jones US Medical Devices Index Fund

Mr. Wonderful's Election Week Trades For A Trump Victory

Radio frequencies frequently emitted by cellphones can cause cancer, according to partial findings of a government study on rats, reported the <a href="http://www.wsj.com/articles/cellphone-cancer-link-found-in-government-study-1464324146">Wall Street Journal</a>.
The National Toxicology Program (NTP) has carried out extensive toxicology and carcinogenesis <a href="http://biorxiv.org/content/early/2016/05/26/055699.full.pdf">studies of radiofrequency radiation (RFR)</a> in rats over multiple years. The studies involved observing the effects of frequencies and modulations found in the U.S. telecommunications industry on the rodents, paying particular attention to the potential of cancer-cell developments.
<h3>The Study</h3>
The peer-reviewed study found "the occurrences of two tumor types in male Harlan Sprague Dawley rats exposed to RFR (radiofrequency radiation), malignant gliomas in the brain and schwannomas of the heart," according to <a href="http://www.nbcnews.com/health/health-news/possible-cellphone-link-cancer-rat-study-launches-new-debate-n581621">the research team</a>.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/news/16/05/8040684/astrazeneca-remains-committed-to-development-of-zs-9-despite-letter-from-fda">AstraZeneca Remains Committed To Development of ZS-9 Despite Letter From FDA</a></bzrelatedlink>
"Given the widespread global usage of mobile communications among users of all ages, even a very small increase in the incidence of disease resulting from exposure to [radio-frequency radiation] could have broad implications for public health," the <a href="http://www.wsj.com/articles/cellphone-cancer-link-found-in-government-study-1464324146">Wall Street Journal</a> quoted a report of partial findings from the study.
Under these studies, rats and mice were exposed to radio-frequency "with two signal modulations [Code Division Multiple Access (CDMA) and Global System for Mobile Communications (GSM)] at two frequencies (900 MHz for rats and 1900 MHz for mice)," the <a href="http://biorxiv.org/content/biorxiv/early/2016/05/26/055699.full.pdf">NTP</a> wrote.
The study also found that "the tumors in the brain and heart observed at low incidence in male rats exposed to GSM and CDMA-modulated cell phone RFR in this study are of a type similar to tumors observed in some epidemiology studies of cell phone use."
"All RF exposures were conducted over a period of approximately 18 hours using a continuous cycle of 10 minutes on (exposed) and 10 minutes off (not exposed), for a total daily exposure time of approximately 9 hours a day, 7 days/week," according to the study.
<h3>What Does It All Mean?</h3>
"Where people were saying there's no risk, I think this ends that kind of statement," the <a href="http://www.wsj.com/articles/cellphone-cancer-link-found-in-government-study-1464324146">Wall Street Journal</a> report said, quoting Ron Melnick, who ran the NTP project until his retirement in 2009.
The Journal said, "It's not clear how the results may impact the government's cellphone safety recommendations."
"Scientific evidence always informs FCC rules on this matter," an FCC spokesman told the Journal. "We will continue to follow all recommendations from federal health and safety experts including whether the FCC should modify its current policies and RF exposure limits."

Wall Street Journal

Media

BIIB

First Trust NYSE Arca Biotechnology Index Fund

iShares Dow Jones US Health Care Provides Index Fund

iShares Trust S&P Global Healthcare Sector Index Fund

Government Study: Cellphone Radiation Linked To Cancer

Investors that closely follow the healthcare sector are most likely familiar with the carnage at Valeant Pharmaceuticals International Inc. (NYSE: <a class="ticker" href="/stock/vrx#NYSE">VRX</a>). Shares of the controversial pharmaceuticals maker have lost nearly two-thirds of their value over the past 90 days, plaguing some hedge funds and <a href="http://www.benzinga.com/trading-ideas/long-ideas/15/09/5877700/this-etf-has-a-valeant-problem">exchange traded funds</a> along the way.

	On Monday, shares of Mallinckrodt PLC (NYSE: <a class="ticker" href="/stock/mnk#NYSE">MNK</a>) slid more than 17.4, a decline,&nbsp;triggered by a tweet from Citron Research&nbsp;that read, &quot;At these prices $MNK has signif more downside than $VRX-- far worse offender of the reimb sys - more to follow. VRX can&#39;t live in a vacuum.&quot;

	Related Link: <a href="http://www.benzinga.com/general/biotech/15/11/5969669/mallinckrodt-the-latest-to-feel-citrons-wrath-has-significantly-more-d">Mallinckrodt The Latest To Feel Citron&#39;s Wrath, Has Significantly More Downside Than Valeant</a>

	Clearly, Citron expects more downside for Mallinckrodt, another pharmaceuticals favorite among the hedge fund crowd, so that leaves ETF investors looking for pharmaceuticals exposure. One play? DO some homework and study healthcare ETFs&#39; holdings... or just skip to the $1.6 billion PowerShares Dynamic Pharmaceuticals Portfolio (NYSE: <a class="ticker" href="/stock/pjp#NYSE">PJP</a>).
<h3>
	PJP</h3>

	PJP, which is a strategic beta ETF that evaluates its 23 holdings based on price momentum, earnings momentum, quality, management action, and value, currently does not feature Mallinckrodt or Valeant on its roster. However, that does not mean Valeant&#39;s woes have not permeated PJP. The ETF has tumbled nearly 11 percent since Valeant&#39;s slide began.

	Still, PJP deserves some credit as it has popped 3.3 percent over the past month, a period in which Valeant has lost more than half its value. For the bold trader, the Direxion Daily Pharmaceutical &amp; Medical Bull 2X Shares (NYSE: PILL) is also worth a look.
<h3>
	PILL</h3>

	PILL, which attempts to deliver double the daily performance of PJP&#39;s underlying index, debuted less than two months ago, but has managed to climbed nearly 7.7 percent over the past month. Lack of Mallinckrodt and Valeant exposure is not the only reason to mull PJP and PILL.

	PJP allocates a combined 10.7 percent of its weight to Dow component Pfizer Inc. (NYSE: <a class="ticker" href="/stock/pfe#NYSE">PFE</a>) and Allergan Plc (NYSE: <a class="ticker" href="/stock/agn#NYSE">AGN</a>), two companies that could announce one of the <a href="http:// http://www.benzinga.com/trading-ideas/long-ideas/15/10/5949034/these-etfs-should-love-the-pfizer-allergan-news">biggest healthcare marriages</a> in recent memory by Thanksgiving. PILL would also be clearly levered to that a positive outcome for that deal.
<h3>
	PILS</h3>

	And if deterioration in shares of Mallinckrodt and Valeant proves too much for the broader pharmaceuticals space to handle, the Direxion Daily Pharmaceutical &amp; Medical Bear 2X Shares (NYSE: PILS) will get its turn in the limelight. PILS, which debuted on the same days as PILL, seeks to deliver twice the daily inverse returns of PJP&#39;s index.

Long Ideas

Short Sellers

Short Ideas

Specialty ETFs

How To Avoid The Pharmaceuticals Fallout With These Three ETFs

In what could amount to the biggest takeover of a U.S. company in over a year, Dow component Pfizer Inc.&nbsp;(NYSE: <a class="ticker" href="/stock/pfe#NYSE">PFE</a>) is reportedly mulling an acquisition of specialty pharmaceuticals maker Allergan Plc&nbsp;(NYSE: <a class="ticker" href="/stock/agn#NYSE">AGN</a>).

	&quot;Pfizer recently approached Allergan about a deal, according to people familiar with the matter, with one of them adding that the process is early and may not yield an agreement. Other details of the talks are unclear,&quot; reports The <a href="http://www.wsj.com/articles/pfizer-allergan-considering-combining-1446079506">Wall Street Journal</a>.&nbsp;

	Allergan closed with a market value of about $113 billion on Wednesday. Pfizer&#39;s market value at Wednesday&#39;s close was nearly double that. New York-based Pfizer had nearly <a href="https://ycharts.com/companies/PFE/cash_on_hand">$30.3 billion in cash </a>on hand at the end of the second quarter.&nbsp;

	As is par for the course with healthcare sector deal-making, a batch of exchange traded funds stand to benefit, particularly if Pfizer can stomach what is likely to be a rich takeover price for Allergan. Among the ETF beneficiaries of the news, perhaps none standout more than the $917.7 million iShares U.S. Pharmaceuticals ETF (NYSE: <a class="ticker" href="/stock/ihe#NYSE">IHE</a>).

	Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/15/10/5947739/walgreens-rite-aid-buyout-will-hopefully-put-downward-pr">Walgreens-Rite Aid Buyout Will &#39;Hopefully&#39; Put Downward Pressure On Drug Prices</a>
<h3>
	Pharma ETF</h3>

	Really, it is about simple math for ETFs when it comes to benefiting from takeover talk and the math favors IHE. As of October 27, Pfizer and Allergan were IHE&#39;s second- and fifth-largest holdings, respectively, combining for more than 17 percent of the ETF&#39;s weight.

	Further examination of IHE&#39;s <a href="http://www.ishares.com/us/products/239519/IHE?referrer=tickerSearch">43-stock roster </a>reveals that roughly a quarter of the ETF&#39;s holdings are credible takeover targets and/or have already been rumored to be just that while a comparable amount of the ETF&#39;s lineup are legitimate buyers.&nbsp;
<h3>
	Beta Spin</h3>

	The PowerShares Dynamic Pharmaceuticals Portfolio (NYSE: <a class="ticker" href="/stock/pjp#NYSE">PJP</a>), <a href="http://www.benzinga.com/trading-ideas/long-ideas/15/09/5871033/the-survey-says-advisors-love-smart-beta-etfs">a strategic beta spin</a> on pharmaceuticals ETFs, is another ETF that cannot be overlooked as Pfizer mulls a marriage with Allergan. Pfizer and Allergan are PJP&#39;s second- and eighth-largest holdings, combining for nearly 11 percent of the ETF&#39;s weight.&nbsp;

	PJP&#39;s underlying index &quot;is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including: price momentum, earnings momentum, quality, management action, and value,&quot;&nbsp;<a href="https://www.invesco.com/portal/site/us/financial-professional/etfs/product-detail?productId=PJP">according to PowerShares</a>.

	Like IHE, PJP is chock of healthcare buyers and sellers because the ETF allocates nearly two-thirds of its weight to large- and mega-cap stocks with the remainder going to small-caps. More than 10 percent of PJP&#39;s $1.6 billion in assets under management have flowed into the ETF over the past year, meaning only 11 PowerShares have added more new assets over that period.

	More importantly, PJP has risen more than five-fold over the past decade, making it the best-performing U.S. ETF over that span. A big reason behind PJP&#39;s decade of dominance has been, not surprisingly, healthcare mergers and acquisitions activity.

These ETFs Should Love The Pfizer-Allergan News

One of the most indisputable facts regarding industry exchange traded funds is that cybersecurity ETFs are ultra-hot when it comes to gathering investor assets.

	The PureFunds ISE Cyber Security ETF (NYSE: <a class="ticker" href="/stock/hack#NYSE">HACK</a>) is the king of the cybersecurity realm, having needed just 10 months of trading to amass $1.5 billion in assets under management. Give the First Trust NASDAQ CEA Cybersecurity ETF (NASDAQ: <a class="ticker" href="/stock/cibr#NASDAQ">CIBR</a>) some credit, too. That ETF is just over two months old and already has $76.7 million in assets under management.

	Direxion, the second-largest issuer of inverse and geared ETFs, is looking to capitalize on the popularity of cybersecurity ETFs with Wednesday&#39;s introductions of the Direxion Daily Cyber Security Bull 2X Shares (NYSE: HAKK) and the Direxion Daily Cyber Security Bear 2X Shares (NYSE: HAKD).
<h3>
	Twice The Power</h3>

	The Direxion Daily Cyber Security Bull 2X Shares is designed to deliver twice the daily inverse performance of the ISE Cyber Security Index (HXR) while the Direxion Daily Cyber Security Bear 2X Shares will attempt to deliver double the daily inverse performance of that index.

	Related Link: <a href="http://www.benzinga.com/trading-ideas/long-ideas/15/09/5840371/opportunity-with-emerging-asia-etfs">Opportunity With Emerging Asia ETFs</a>

	The ISE Cyber Security Index is HACK&#39;s underlying benchmark. That index index &ldquo;tracks the performance of companies actively engaged in providing services for cyber security and for which cyber security business activities are a key driver of their business model. These cyber security services are designed to protect computer hardware, software, networks and data from unauthorized access, vulnerabilities, attacks and other security breaches,&rdquo; according to <a href="http://www.pureetfs.com/etfs/hack.html">PureFunds</a>.
<h3>
	Elsewhere...</h3>

	Massachusetts-based Direxion is further adding to its double-leveraged lineup with the introductions of the Direxion Daily Pharmaceutical &amp; Medical Bear 2X Shares (NYSE: PILS) and the Direxion Daily Pharmaceutical &amp; Medical Bull 2X Shares (NYSE: PILL). The Direxion Daily Pharmaceutical &amp; Medical Bull 2X Shares seeks to deliver twice the daily inverse performance of the Dynamic Pharmaceutical Intellidex Index (NYSE: DZR) while PILS will look to deliver twice the daily performance of that index.

	The Dynamic Pharmaceutical Intellidex Index is the underlying benchmark for the $1.94 billion PowerShares Dynamic Pharmaceuticals Portfolio (NYSE: <a class="ticker" href="/stock/pjp#NYSE">PJP</a>). Top holdings in that ETF include Dow components Pfizer Inc. (NYSE: <a class="ticker" href="/stock/pfe#NYSE">PFE</a>) and Johnson &amp; Johnson (NYSE: <a class="ticker" href="/stock/jnj#NYSE">JNJ</a>) as well as Gilead Sciences Inc. (NASDAQ: <a class="ticker" href="/stock/gild#NASDAQ">GILD</a>) and Celgene Corp. (NASDAQ: <a class="ticker" href="/stock/celg#NASDAQ">CELG</a>).

	That index &ldquo;is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including: price momentum, earnings momentum, quality, management action, and value,&rdquo; <a href="https://www.invesco.com/portal/site/us/financial-professional/etfs/product-detail?productId=PJP">according to PowerShares</a>.

	The introductions continue a torrid pace of new ETF launches by Direxion this year. The issuer has brought to market a raft of new funds this year, including some that have&nbsp;<a href="http://www.benzinga.com/general/biotech/15/08/5781564/a-bad-sign-for-biotech-bulls">found immediate success</a>, such as the Direxion Daily CSI 300 China A Share Bear 1X Shares (NYSE: <a class="ticker" href="/stock/chad#NYSE">CHAD</a>), Direxion Daily CSI 300 China A Share Bull 2X Shares (NYSE: <a class="ticker" href="/stock/chau#NYSE">CHAU</a>), Direxion Daily S&amp;P Biotech Bear 3X Shares (NYSE: <a class="ticker" href="/stock/labd#NYSE">LABD</a>) and the Direxion Daily S&amp;P Biotech Bull 3X Shares (NYSE: <a class="ticker" href="/stock/labu#NYSE">LABU</a>), among others.

New ETFs

CHAD

CHAU

CIBR

HACK

LABD

LABU

They're Heeere: Leveraged Cybersecurity ETFs

The market pullback was due to a combination of factors that ranged from the Ebola scare to high valuations to falling oil prices to geopolitical concerns.

	The broad-based selling had an effect on every sector in the market including the drug stocks. The sector was trading at an all-time high with the S&amp;P 500 in mid-September before the selling began.

	Now that the dust is starting to settle, investors are able to look at buying opportunities in sectors that were brought down by market-wide selling.

	The pharmaceutical/drug ETFs are now sitting on support levels that suggest the past rally should continue.

	The&nbsp;Market Vectors Pharmaceuticals ETF (NYSE: <a class="ticker" href="/stock/pph#NYSE">PPH</a>) tracks 27 of the largest publicly traded pharmaceutical companies across eight countries. The top weighted countries being the United States at 59 percent and Switzerland at 10 percent. The top individual holdings include Johnson &amp; Johnson (NYSE: <a class="ticker" href="/stock/jnj#NYSE">JNJ</a>) at 11 percent, Novartis Ag (ADR)&nbsp;(NYSE: <a class="ticker" href="/stock/nvs#NYSE">NVS</a>) with a 9.9 percent holding and Pfizer Inc.&nbsp;(NYSE: <a class="ticker" href="/stock/pfe#NYSE">PFE</a>) at 7.4 percent. The $363-million ETF broke through its 200-day moving average and is attempting to hold support at the $58 area.

	The ETF is up 20 percent over the last 12 months, and it pays a 2.0 percent dividend. The annual expense ratio is 0.35 percent.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/etfs/sector-etfs/14/10/4931837/investors-flee-european-etfs">Investors Flee European ETFs</a></bzrelatedlink>

	The&nbsp;iShares Dow Jones US Pharm Indx&nbsp;(NYSE: <a class="ticker" href="/stock/ihe#NYSE">IHE</a>) has $729 million in assets and tracks 42 pharmaceutical companies listed in the U.S. The top individual holdings in the portfolio are JNJ at 9.6 percent, PFE at 8.1 percent and Merck &amp; Co., Inc.&nbsp;(NYSE: <a class="ticker" href="/stock/mrk#NYSE">MRK</a>) coming in at 7.4 percent.

	The ETF was able to hold its 200-day moving average at $130.75 during the pullback before rallying with the overall market. Over the last year, the ETF is up 26 percent. The expense ratio is 0.43 percent and it pays out a dividend of 1.0 percent.

	The&nbsp;PowerShares Dynamic Pharmaceuticals(ETF)&nbsp;(NYSE: <a class="ticker" href="/stock/pjp#NYSE">PJP</a>) has $1.2 billion in assets and consists of 27 stocks with about 60 percent in the large-cap asset class and one-third in small-cap stocks. The top individual holdings include Auxilium Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="/stock/auxl#NYSE">AUXL</a>) with a 5.3 percent holding, Bristol-Myers Squibb Co&nbsp;(NYSE: <a class="ticker" href="/stock/bmy#NYSE">BMY</a>) at 5.1 percent and Amgen, Inc.&nbsp;(NASDAQ: <a class="ticker" href="/stock/amgn#NASDAQ">AMGN</a>) making up 4.9 percent of the portfolio. The ETF was also able to hold the 200-day moving average at $59 before attracting some buyers. Over the last 12 months the ETF has been the best performer of the three with a gain of 31 percent.

	The expense ratio is slightly higher at 0.58 percent and the dividend yield is the lowest at 0.40 percent.

	While the first two ETFs are fairly similar with a heavy concentration on the larger stocks in the sector, PJP is more diverse with one-third of the allocation in the smaller names.

	This diversity has helped PJP outperform its peers and make up for the higher expense ratio and lower dividend yield. From a technical perspective both PJP and IHE are the most attractive because of the fact they held their respective 200-day moving averages. When all is considered, PJP appears to be the best positioned for a continued uptrend in the stock market and drug sector.

AUXL

Drug ETFs Attractive Buys On Pullback

The amount of stocks hitting new highs is slowing with the major indices are only one week removed from historic levels.

	The universe of ETFs is in the same predicament with only a handful able to breakout to 52-week highs this week. However, within that group there are a few interesting names that should be highlighted for investors.

	The PowerShares Dynamic Pharmaceuticals Portfolio ETF (NYSE: <a class="ticker" href="/stock/pjp#NYSE">PJP</a>) tracks about 30 publicly traded companies that are engaged in the research, development, manufacturing, sale or distribution of pharmaceutical drugs of all types. The top holdings in the fund include Auxilium Pharmaceuticals Inc&nbsp;with a 5.1 percent holding, Johnson &amp; Johnson&nbsp;at 5.1 percent and Pfizer Inc at 5 percent.

	PJP has outperformed the overall market in the last 12 months with a gain of 40 percent. An expense ratio of 0.58 percent is reasonable for an ETF with such good performance.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/etfs/specialty-etfs/14/09/4869604/new-zealand-etf-higher-after-election">New Zealand ETF Higher After Election</a></bzrelatedlink>

	The WisdomTree Japan Hedged Small Cap Equity ETF (NYSE: <a class="ticker" href="/stock/dxj#NYSE">DXJ</a>) aims to provide exposure to small-cap equity securities in Japan, while simultaneously hedging exposure to oscillation between the U.S dollar and the Japanese yen.

	DXJ is an diverse fund with a total of 599 holdings. Its top holdings being Kaken Pharmaceutical Co Ltd making up 0.78 percent of the fund, Sanrio Co Ltd with a 0.74 percent holing, and Azbil Corp at 0.62 percent. The ETF is heavily concentrated in the industrials and consumer discretionary sectors, with half the portfolio invested in the stocks.

	DXJ is up 8 percent over the last 12 months and 14 percent over the last six. The small-cap Japan ETF has an expense ratio of 0.58 percent with is favorable for such a concentrated ETF.

	The PowerShares DB US Dollar Index Bullish ETF (NYSE: <a class="ticker" href="/stock/uup#NYSE">UUP</a>) is designed for investors who want to track the value of the U.S. dollar against six major world currencies: the Euro, the Japanese Yen, British Pound, Canadian Dollar, Swedish Krona and Swiss Franc. The largest weighting is the U.S. Dollar-Euro at 58 percent, followed the U.S. Dollar-Yen at 14 percent and the U.S. Dollar-British Pound at 12 percent.

	UUP is up 4.7 percent over the last 12 months. The ETF charges an expense ratio that is higher than the average, 0.80 percent, because of the nature of investing in currencies.

Currency ETFs

WisdomTree Trust Japan Total Dividend Fund

PowerShares DB US Dollar Index Bullish Fund

These 3 ETFs Are Hitting Highs

The health care sector has been on fire in 2014, as investors continue to bet on the development of new drugs and increased need for medical services.

	On Tuesday, the pharmaceuticals industry received a vote of confidence, after both Pfizer Inc (NYSE: <a class="ticker" href="/stock/pfe#NYSE">PFE</a>) and Merck &amp; Co. (NYSE: <a class="ticker" href="/stock/mrk#NYSE">MRK</a>) reported better than expected earnings. Both stocks moved higher on this positive news and in turn provided a tailwind for several ETFs that have core exposure to this group.

	The Market Vectors Pharmaceutical ETF (NYSE: <a class="ticker" href="/stock/pph#NYSE">PPH</a>) provides exposure to 25 of the largest and most liquid U.S.-listed pharmaceutical companies. Both PFE and MRK are in the top holdings of this fund, which charges an expense ratio of 0.35 percent. PPH currently has more than $320 million in total assets and a 30-day SEC yield of 1.87 percent.

	Related: <a href="http://www.benzinga.com/etfs/sector-etfs/14/07/4734334/a-resources-etf-with-an-upstream-emphasis" title="A Resources ETF With An Upstream Emphasis">A Resources ETF With An Upstream Emphasis</a>

	So far this year, PPH has gained 17.28 percent versus a gain of 12.84 percent in the benchmark Health Care Select Sector SPDR (NYSE: <a class="ticker" href="/stock/xlv#NYSE">XLV</a>). This strong momentum makes PPH the best performing health care ETF, to-date, in 2014.&nbsp;
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	PPH has benefitted from its exposure to the largest companies in this group, along with 40 percent of the portfolio dedicated to European equities trading on U.S. exchanges.

	Another well-known ETF in this space that takes a more fundamental approach is the PowerShares Dynamic Pharmaceuticals Portfolio (NYSE: <a class="ticker" href="/stock/pjp#NYSE">PJP</a>). This ETF is based on an index that selects companies by monitoring a variety of investment merit criteria, including price momentum, earnings momentum, quality, management action and value.

	PJP includes exposure to both large- and small-cap holdings, which allows it to capture a wider swath of the health care universe. This fund currently has more than $1.1 billion in total assets and charges an expense ratio of 0.63 percent.

	So far this year, PJP has gained 12.89 percent, as recent volatility in the biotech sector has led to a modest pullback. However, additional positive earnings announcements combined with a strong fundamental backdrop for the health care sector may lead to further growth this year.

Pharmaceutical ETFs Are Health Care Sector Standouts

<a href="http://www.benzinga.com/topic/etfs">ETF</a> Outlook for the Week of June 23, 2014

	iShares FTSE/Xinhua China 25 Index ETF (NYSE: <a class="ticker" href="/stock/fxi#NYSE">FXI</a>)

	The HSBC Flash PMI for the month of June in <a href="http://www.benzinga.com/topic/China">China</a> came in at 50.8, up from 49.4 in May. The number was well above expectations of 49.7 and is back into expansion territory.

	After the number was released, both JPMorgan Chase and Barclays raised their second quarter GDP estimates for the country. JPMorgan now sees growth of 7.2 percent and Barclays upped its to 7.4 percent.

	Expect the Chinese stocks and ETFs to be on the move Monday.

	iShares Dow Jones U.S. Home Construction ETF (NYSE: <a class="ticker" href="/stock/itb#NYSE">ITB</a>)

	Shares of ITB have been holding up well even after not so great housing numbers last week.

	The ETF has strong support at the $23.75 area and resistance just under $25.00. It closed Friday in the middle of the range at $24.15, but should be on the move this week with more economic numbers revealing the health of the housing rebound. The existing home sales data comes out Monday and should be enough to help push the ETF to the upper or lower end of the trading range.

	Related Link: <a href="http://www.benzinga.com/etfs/sector-etfs/14/06/4646993/3-gold-silver-mining-etfs-rocketing-higher-in-june">3 Gold &amp; Silver Mining ETFs Rocketing Higher In June</a>

	United States Brent Oil ETF (NYSE: <a class="ticker" href="/stock/bno#NYSE">BNO</a>)

	Escalating tensions in <a href="http://www.benzinga.com/topic/Iraq"> Iraq</a> have Brent oil closing in on the highest level in nine months in early morning trading. The level to watch is $115.71, which has not been broken yet, however the futures are within striking distance. Shares of BNO hit the highest level since it began trading in 2010 late last week and extended its recent rally.

	The ETF is up over 10 percent since early April and the rally could continue this week if the geopolitical issues in Iraq and around the globe do not start to dissipate.

	PowerShares Dynamic Pharmaceutical ETF (NYSE: <a class="ticker" href="/stock/pjp#NYSE">PJP</a>)

	The large-cap drug stocks were dragged down by the mini-crash in the biotech stocks earlier this year. Since finding a bottom in April, the sector has rebounded and late last week PJP and its peers rallied to close at new all-time highs.

	PJP is now up 14 percent from the April low as investors realized the sector was lumped into the biotech group unfairly. A factor that makes PJP attractive is the fact it has not only traditional pharmaceutical stocks in the portfolio, but also some exposure to the biotech stocks, which have also rebounded nicely from the sell-off.

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