Recently, the Large Pharma CEOs met with President Trump, which went better than the market anticipated. That paved the way for a broader healthcare and biotech rally. Additionally, the recent proposed acquisition of Actelion (OTCPK:ALIOY) by Johnson & Johnson (NYSE:JNJ) just increased the price for future buyouts.
The friendly meeting between President Trump and the CEOs of the Pharmaceuticals led to the industry taking off. Shares of the NASDAQ Biotech ETF (NASDAQ:IBB) are up nearly 3.5% in just three trading days. There was nothing in this meeting that had not been said for the most part with other industry leaders. President Trump spoke about deregulation, tax cuts and a faster FDA approval process. Of course, in return, the President wants jobs to come back to the US.
