Core Insights - The PGIM Jennison Health Sciences Fund's second-quarter 2025 investor letter highlights significant volatility in equities, with the S&P 1500 Health Care Index declining by 6.9%, underperforming the S&P 500's 10.9% return [1] - Health care providers, life sciences tools, biotechnology, and pharmaceuticals underperformed the Index, while healthcare technology and medtech sectors showed gains [1] - Alnylam Pharmaceuticals, Inc. is emphasized as a key stock, with a one-month return of 1.34% and a 52-week gain of 66.94%, closing at $458.37 per share with a market capitalization of $60.083 billion [2][3] Company Analysis - Alnylam Pharmaceuticals focuses on RNA-based therapies, particularly RNA interference (RNAi), with a strong emphasis on treating conditions like Transthyretin Amyloidosis (ATTR) [3] - The company’s drug Amvuttra represents a novel approach in treating ATTR cardiomyopathy, offering a silencing mechanism that significantly reduces misfolded protein production, contrasting with existing treatments that stabilize the protein [3] - Early feedback on Amvuttra's launch has been positive, with expectations for continued strength in performance due to underdiagnosis of rare diseases and an expanding market as more treatments enter [3] - Alnylam has a robust pipeline across various therapeutic areas, indicating potential for becoming a multi-franchise company by the end of the decade, a growth opportunity not yet reflected in its stock price [3]