Healthy Returns: Medicaid cuts in Trump's megabill may affect some drugmakers more than others

1. President Trump signed a $1 trillion Medicaid cut bill impacting drugmakers. 2. Medicaid accounts for only 4% of BMY's U.S. revenue, minimal direct impact. 3. Broader Medicaid cuts could cause industry turbulence but BMY remains stable. 4. Future financial impacts on drugmakers set to start in 2027 post-elections. 5. BMY and Pfizer benefit from exemption from Medicare drug price negotiations.