Republicans maintaining control of both houses of Congress could favor the SPDR Pharmaceuticals ETF (NYSEArca: XPH).
Some expectations point to Democrats winning back the House of Representatives and the Republicans maintaining a narrow hold on the Senate – Republicans currently dominate both chambers. According to public opinion polls, it would require a sea change to alter current projections, CNBC reports.
“If Democrats gain control of both houses, pressure could shift from PBMs to directly target pharmaceutical firms through measures like increased imports, broadening the availability of generics, and the passage of the FAIR drug pricing act that would require manufacturers to publicly justify their price levels,” said SSgA.
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