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‘Battling all the time’

Tony Downey

According to some research, healthcare stocks are about as cheap as they have been in three decades. Many have experienced significant headwinds recently, but for opportunistic investors, now may be a great time to explore the industry for potential deals. Plenty of promising, yet beaten-down, healthcare stocks can be had at reasonable valuations relative to their growth potential.

Two that are worth serious consideration are Pfizer (PFE -0.50%) and Vertex Pharmaceuticals (VRTX -1.00%). Here’s more on these drugmakers.

Image source: Getty Images.

1. Pfizer

Pfizer is staring down the barrel of several patent cliffs that should happen by the end of the decade. For example, the company’s anticoagulant, Eliquis, will lose patent exclusivity by 2029 at the latest. The market is factoring that in, and in addition to the poor financial results Pfizer has produced lately, it explains its terrible performance on the market over the past few years.

However, Pfizer is rebounding. In the second quarter, Pfizer’s revenue increased by 10% year over year to $14.7 billion. The company’s adjusted earnings per share grew 30% year over year to $0.78. These are strong results for a pharmaceutical giant.

Furthermore, Pfizer’s pipeline should enable it to overcome the upcoming loss of patent exclusivity. The company has earned approval for several new products in recent years that are still in their early growth stages, especially considering that some of them are expected to receive label expansions. Abrysvo, a vaccine for the respiratory syncytial virus, is one such newer product whose second-quarter revenue increased by 155% year over year to $143 million.

Elsewhere, Pfizer has significantly improved its pipeline in recent years through licensing deals in acquisitions. The company’s oncology pipeline appears particularly promising, boasting dozens of programs, at least some of which should yield excellent clinical results in the coming years.

Lastly, Pfizer has been engaged in cost-cutting efforts. The company is on track to deliver net cost savings of $4.5 billion by the end of the year and $7.2 billion by the end of 2027. These initiatives should help boost Pfizer’s bottom line, and they are even more important considering President Trump’s aggressive tariffs.

Pfizer’s overall business still looks robust enough to recover, despite upcoming headwinds. The stock’s forward price-to-earnings (P/E) ratio of 7.7 appears dirt cheap when compared to the industry average of 16.5 for the healthcare sector. The stock is a great choice for value investors right now.

2. Vertex Pharmaceuticals

Vertex Pharmaceuticals’ forward P/E tops 20, which makes the stock look fairly expensive compared to its healthcare peers. And when we consider that the company has encountered setbacks this year, including clinical trial failures and the distribution of some illegal knockoffs of its medicines in Russia, which has impacted its sales, the picture looks even bleaker.

But at current levels, Vertex Pharmaceuticals looks attractive considering its potential. For one, the company still holds a monopoly in cystic fibrosis (CF), a rare lung disease. And in that niche, Vertex Pharmaceuticals has a reasonable amount of whitespace. Although its first CF medicine has been on the market for over a decade, Vertex has developed newer and better products.

Trikafta and Alyftrek, Vertex’s newest launches in CF, won’t lose patent exclusivity until the late 2030s. In the meantime, thousands of patients eligible for these medicines remain untreated. Translation: Expect reasonable revenue growth from this franchise for the foreseeable future.

Now add to that the company’s newer launches: Journavx in acute pain and Casgevy in beta-thalassemia and sickle cell disease. The former fills a need: It became the first approved oral, non-opioid pain inhibitor. Opioid-based therapies come with the risk of addiction and other potentially severe adverse reactions. Journavx was only approved in January. It should make a meaningful impact on Vertex’s results sooner rather than later.

Casgevy’s case is a bit different. It first earned regulatory approval in late 2023, but it has not yet contributed significantly to Vertex’s sales. That’s because it is an expensive gene editing therapy that is complex to administer. However, Vertex Pharmaceuticals is making progress in securing deals with third-party payers. Casgevy has little competition and should also, eventually, see its sales ramp up.

Beyond that, Vertex Pharmaceuticals could earn approval for zimislecel, a therapy for type 1 diabetes, within two years. The company also has late-stage candidates that could make significant progress in the meantime. Vertex still has significant upside from its current levels. The stock has faced headwinds this year, but a turnaround is, indeed, on the horizon for the biotech stock.

The New Strategic Arms Reduction Treaty (New START), the only remaining bilateral arms control agreement between the United States (US) and Russia, is set to expire on February 5, 2026. The New START, which accounted for 90 percent of the world’s nuclear weapons, was signed in 2010 and entered into force in 2011. The treaty was originally set for 10 years with a further one-time expansion for five years, and this extension option was already availed in 2021. However, after the outbreak of war in Ukraine, the New START was deferred, and to date, its status has remained unchanged. As the treaty is approaching its end, and war in Ukraine continues, the questions about the future of arms control between the two states are arising, and security experts worldwide fear a new arms race between the Cold War rivals. The following article analyzes the evolving dynamic of arms control between the US and Russia amid the Ukraine war, and examines how, if timely measures are not taken, a renewed arms race may be imminent.

In 2022, after the outbreak of the Ukraine war, Russia suspended its participation in the New START treaty due to US military support to Kyiv. Russia accused the US of violating the treaty by attempting to inflict a strategic defeat on Russia. Later on, Moscow also accused Washington of violating the treaty provisions by removing over “100 units of the US strategic offensive arm” from accountability without any verification. In addition, Russia asserted that the US wanted to inspect Russian facilities while restricting Moscow from carrying out verifications on American territory, as promised in the treaty.  However, despite the suspension of the treaty, both parties promised that they would adhere to the limits set by the treaty. Whereas the Bilateral Consultative Committee (BCC), established jointly under the treaty, remains inactive. Resultantly, US-Russia relations have reached a low point in arms control measures.

After President Donald Trump returned to the Oval Office for his second tenure, there were hopes of a thaw between Moscow and Washington, especially after the beginning of ceasefire negotiations over Ukraine. Both sides officially signaled a willingness to engage positively on arms control. In February 2025, President Donald Trump said that he wanted to restart arms control discussions with Russia. Simultaneously, American Democratic lawmakers urged the Security of State, Marco Rubio, to renew the New START treaty with Russia. Further, in January 2025, Moscow Spokesman Dmitry Peskov said that Russia wants to resume arms control talks with the US, which is in the world’s interest. And even most recently, when President Trump was asked about the future of US-Russia arms control, he said that he would like to see arms control between the two states. However, as Russia-Ukraine ceasefire negotiations have failed to produce any positive outcomes, there seems to be less interest from the parties regarding arms control talks. For instance, Sergei Ryabkov, the Russian Deputy Foreign Minister, recently told Russian news agency TASS that there are no grounds for a full-scale resumption of New START in the current circumstances. Thus, given the current evolving geopolitical dynamics, a thaw aimed at the ongoing Ukraine war is highly unlikely.

At one point, there was no mechanism between the US and Russia to decide the future of arms control; on the other hand, there are some developments that might provoke a new arms race. According to a Stockholm International Peace Research Institute (SIPRI)  2025 report, both the US and Russia are attempting to upgrade their strategic forces and their delivery means. The US has been investing in the modernization of its nuclear forces on air, land and sea. In 2023, the US Department of Defence procured more than 200 modernized nuclear weapons from National Nuclear Security Administration (NNSA). Furthermore, US President Trump has announced the Golden Dome missile defence project intended to counteract the aerial threats, particularly from Russia and China. Russian Deputy Foreign Minister Ryabkov has called the “Golden Dome” extremely destabilizing, which can act as an impediment in arms control talks.

In parallel, Russia has also been actively upgrading its nuclear forces to enhance its national security.  President Vladimir Putin, in 2018, had unveiled the Avangard program, consisting of nuclear armed hypersonic glide vehicles (HGVs) which are nearly impossible to intercept. In response, the US also started developing its long range hypersonic missile, Dark Eagle, to be fielded by the end of fiscal year 2025. Besides this, Russia also announced the development of unmanned, nuclear armed torpedo Poseidon capable of targeting at a longer range of 10,000 km, and an invincible nuclear-powered, nuclear armed intercontinental cruise missile Burevestnik having an unlimited range. Furthermore, Moscow revised its nuclear doctrine in 2024, further lowering the nuclear threshold, and reaffirmed its right to use nuclear weapons in response to any nuclear or conventional attack that jeopardizes the sovereignty of Russia or its allies.

Moreover, the geopolitical developments such as France extending the nuclear umbrella to Europe, the US deployment of the Aegis missile defense system in Poland, have raised concerns in Russia. On the other hand, Moscow has stationed its tactical nuclear weapons (TNW) on Belarus soil as part of its security. In addition, President Putin has announced plans to deploy Oreshnik, an intermediate-range hypersonic missile capable of carrying conventional as well as nuclear warheads in Belarus, which can reach the entirety of Europe. Similarly, most recently, Russia announced its intention to abandon the unilateral moratorium on the Intermediate-range Nuclear Forces (INF) Treaty, citing the deployment of intermediate range missiles by Washington in Europe and Asia. The move came following the announcement of the repositioning of nuclear submarines by President Trump as part of pressuring President Putin to put an end to war in Ukraine. These developments paint a bleak picture of the future of arms control between US and Russia as they not only breed mistrust but also incentivize the states to expand their arsenals in the absence of any verification, leading to a potential Cold War style arms race.

Given the strained relationships between the US and Russia due to on-going Ukraine war, the absence of communication and heightened mistrust, the expiry of the New START treaty with no follow-up or legally binding obligations, could result in both states significantly increasing their nuclear arsenals, exceeding the limits set by the treaty. This arms buildup signals a rapid shift in the geopolitical dynamics, further reducing the prospects of arms control and prompting each side to adopt an aggressive posture. These developments incentivize the states to expand their arsenals in the absence of any verification, potentially leading to the resurgence of a Cold War style arms race. To achieve lasting peace, formal talks between Russia and the US must once again be initiated to settle basic incompatibilities and build a new, holistic arms control regime.

BBC

Claimed losses

‘Startling’

Mark Wildblood, the founder of Hear Our Voice – the choir made up of people impacted by the Post Office scandal – says the initiative has been ‘therapeutic’ after a battle with depression.

Hear Our Voice, the choir made up of people affected by the Post Office scandal which placed seventh in the recent series of Britain’s Got Talent, are releasing a new charity single alongside band Will & The People.

The single, Falling Down, is a rendition of the song they performed in their audition for Britain’s Got Talent. And choir founder Mark Wildblood says the initiative has been ‘life changing’ for him, admitting the talent show stint has made a significant impact on his mental health.

“I personally have found it very therapeutic,” said Mark. “I was on antidepressants prescribed by my doctor for a long long time and I spoke to them very early this year and I said, ‘Look [the choir] is really starting to make me feel good and I wouldn’t mind trying to go without [the antidepressants].

“So, at the recommendation of doctors I was told it’s ok to give it a go and I haven’t been back on them since,” he says of the choir’s impact.

Continuing that it has given him ‘purpose’ following dark days, Mark shared, “It’s not difficult to get caught up in dwelling on all of the negatives. So, to be surrounded by the same people that you talk to about it every day and that are seeing the positives as well, I think we’ve done a really really positive thing and a lot of that is thanks to BGT.”

While Mark says the choir has meant he’s managed to let go of ‘anger’ he was holding onto against the post office, he confirms that the ‘concern’ remains. “My concern for the procedure is not eliminated. We still have to make sure that we get closure and closure can only come with compensation.”

Mark was a sub-postmaster at Upton Post Office before he was suspended from the role as one of the thousands of people impacted by the Post Office scandal. The scandal saw the wrongful prosecution of sub-postmasters and postmistresses by the Post Office, who accused them of theft, fraud, and false accounting due to faulty data from the Horizon IT system used by the company.

He founded the choir in May 2024, inviting others impacted by the scandal to take part and raise money for the cause, alongside awareness. As the former tour manager for Will and the People, Mark then enlisted lead singer Will Rendle to get involved as he fronted the act on Britain’s Got Talent.

And detailing how the choir has become a family dynamic, Mark said, “W e always say to each other that we have become family now. The choir is spread out throughout the country and so BGT has given us the opportunity to actually meet five times in a very short space of time and be together.”

Many of the victims are still awaiting compensation from the Post Office, with Mark admitting that despite the success of their campaigning and the recent TV series; Mr Bates vs The Post Office, there’s still a long way to go.

It comes as Simon Recaldin, a Post Office boss who has been backing compensation for the scandal victims, has left his position in the company. Simon is thought to have opted for voluntary redundancy, a move which comes amid the increased pressure on the company to pay victims. Previously, the government announced that those who have had convictions overturned are eligible for £600,000, with hundreds still waiting for the compensation.

“Scandals like these have a commonality where the bureaucracy of closure takes so long that many people pass away by the time that the situations are resolved – I just hope that we don’t get into that situation,” says Mark of those yet to be paid. “We’ve already lost a lot of people in the Post Office scandal and we can’t afford to lose more without getting a speed up, so I would say to those in power, please change the system. It’ll be better for everyone all round and cost a lot less money if they just do it now as it should be,” pleaded Mark.

With fellow choir member Maria Lockwood joking that the unit would be keen to front the Glastonbury stage this summer, Mark says he isn’t opposed to the idea. “We wouldn’t say no to anything where we had the opportunity to get together in person again and Glastonbury would be amazing, that would be phenomenal.”

Falling Down, the single by Hear Our Voice choir and Will and The People, is available on all platforms from tomorrow, 10 June. 100% of profits after costs from the single are going to the Horizon Scandal Fund and Lost Chances—two organisations supporting victims and their families.

The Gran Morgu project may transform Suriname’s economy, rivalling oil-rich neighbour Guyana by 2028, officials predict.

Voters in Suriname, which is on the cusp of a much anticipated oil boom, have begun to elect a new parliament, which will subsequently choose the next president of the smallest nation in South America.

Sunday’s elections have already been marked by fraud allegations and have seen little debate about what the next government, which will hold power until 2030, should do with income from the offshore oil and gas Gran Morgu project. It is to begin production in 2028.

Experts said Suriname, a country beset by poverty and rampant inflation, is projected to make billions of dollars in the coming decade or two from recently discovered offshore crude deposits.

The project, led by TotalEnergies, is Suriname’s first major offshore effort. The former Dutch colony, independent since 1975, discovered reserves that may allow it to compete with neighbouring Guyana – whose economy grew 43.6 percent last year – as a prominent producer.

“It will be a huge amount of income for the country,” President Chan Santokhi told the AFP news agency this week. “We are now able … to do more for our people, so that everyone can be part of the growth of the nation.”

Santokhi is constitutionally eligible for a second term, but with no single party in a clear lead in the elections, pollsters are not predicting the outcome.

The party with the most seats will lead Suriname’s next government, likely through a coalition with smaller parties, but negotiations and the choosing of a new president are expected to take weeks.

Fourteen parties are taking part in the elections, including Santokhi’s centrist Progressive Reform Party and the leftist National Democratic Party of deceased former coup leader and elected President Desi Bouterse.

Also in the running is the centre-left General Liberation and Development Party of Vice President Ronnie Brunswijk, a former rebel who fought against Bouterse’s government in the 1980s.

Provisional results are expected by late Sunday.

Suriname – a diverse country made up of descendants of people from India, Indonesia, China, the Netherlands, Indigenous groups and enslaved Africans – will mark the 50th anniversary of its independence from the Netherlands in November.

Since independence, it has looked increasingly towards China as a political ally and trading partner and in 2019 became one of the first Latin American countries to join the Asian giant’s Belt and Road infrastructure drive.

United States Secretary of State Marco Rubio made a stopover in Suriname in March on a regional tour aimed at countering China’s growing influence in the region.

More than 90 percent of the country is covered in forest, and it is one of few in the world with a negative carbon footprint.

Santokhi insisted this status is not in danger and Suriname can use its oil windfall “for the transition towards the green energy which we need, also because we know the fossil energy is limited”.

“It will be gone after 40 years.”