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Good morning. We’re breaking down some of the key parts of a sweeping new health care bill today.
The need-to-know this morning
Johnson & Johnson kicked off the fourth-quarter earnings season with in-line profits and revenue slightly higher than the consensus estimate. For 2026, J&J guided to an earnings range that brackets consensus and a better-than-expected revenue forecast. You want actual numbers? Check them out here.
PBM reform revived in new health care bill
Congress has reached a deal on several health care policies that are part of a sweeping bill to fund the Health and Human Services Department. Many of these proposals were part of a deal Congress struck in December 2024 that quickly fell apart after then President-elect Trump and Elon Musk attacked it.
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