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28.8%

The quarter-to-date performance difference between the S&P 500 Banks Index (+19.0%) and the S&P 500 Pharmaceuticals Index (-9.8%) as of last Friday. Banks have benefited from a steepening yield curve and expectations of a friendlier regulatory environment with the incoming Trump administration. Meanwhile, drugmakers could face headwinds related to pricing and vaccine development support under a CMS (which oversees the FDA, NIH, and CDC) headed by president-elect Trump’s nominee Robert Kennedy Jr.

$193

The initial U.S dollar cost (1,400 yuan) for a one-month supply of Novo Nordisk’s antiobesity GLP-1 blockbuster Wegovy at a public hospital in Shanghai last week, according to Chinese media outlet Yicai. This is about 14% of the monthly list price for the drug in the U.S, which currently has about 215,000 weekly subscriptions. Novo Nordisk estimates about 180 million people in China are obese out of a population of 1.4 billion.