Prescription Medicines: Defensive Momentum

Druck Drake’s thesis

I would follow the rotation into established prescription-drug franchises rather than buy falling AI hardware on a spending narrative. AbbVie, Amgen, Lilly and Merck have positive monthly and quarterly momentum, confirming demand for this defensive earnings exposure. With no evidence here of easier central-bank liquidity, the case rests on business resilience and relative strength—not a presumed Fed pivot. Reimbursement pressure and pipeline disappointments remain risks; a reversal in leadership