Pharma tariffs 'not a huge risk' for domestic companies, says Mizuho's Jared Holz

Group 1 - The impact of pharma tariffs appears to be minimal for large-cap pharmaceutical stocks, while smaller companies without US manufacturing may face more significant challenges [1] - The response from the buy-side community indicates concerns about the negative effects on non-domestic companies that have not relocated manufacturing to the US [2] - Most biotech companies are primarily domestic, which mitigates the overall risk, as those with facilities and investments in the US are less affected by the tariff changes [2][3] Group 2 - The net impact of the current situation is viewed positively for the pharmaceutical sector, despite some uncertainty surrounding biotech companies [2] - The commentary suggests that companies with US-based operations are somewhat insulated from the adverse effects of the tariffs [2]