Analysts Marshall Gordon, Brittany Henderson and Nick Wu share their top picks in the biopharmaceutical, contract research organization and life science tools markets as biopharma funding shows improvement.

Tailwinds Forming for Health Care

Authentically Active: The ClearBridge Podcast

Hello and welcome to the latest ClearBridge Podcast. This is Jeff Schulze, CFA, Head of Economic and Market Strategy at ClearBridge Investments. ClearBridge is a global equity manager with over $200 billion in assets under management committed to delivering long-term results through authentic active management.

GLP One spots have become the most prevalent pharmaceutical advertising in the commercial breaks during the NBA Finals and now World Cup matches. While these diabetes and weight loss treatments hog the spotlight, behind the scenes, other parts of healthcare are in the midst of a comeback after a tough start to the second Trump administration.

Here to help me understand the tailwinds emerging across areas like contract research organizations, life science tools and select parts of biopharma, I'm pleased to welcome ClearBridge's trio of healthcare analysts back to the booth, Marshall Gordon, Brittany Henderson and Nick Wu. We last convened ahead of Trump's inauguration to discuss whether innovation would be enough to overcome policy uncertainty and today we have a bit more clarity on those themes.

We will delve into opportunities created by an improved biopharma funding environment and related catalysts in today's podcast, tailwinds forming for healthcare. Nick, Brittany, Marshall, thank you so much for joining me in the podcast booth. I don't remember the last time that we've had three guests on a ClearBridge podcast, but I'm really excited to talk about the opportunities and risks that are in the healthcare market today. And I want to kick things off by talking about pharmaceutical companies.

They're the largest group of stocks in the healthcare sector. They make up about 40% of the sector. And when you think about performance, it's been a tale of two halves. Over the first nine months of 2025, healthcare lagged the S&P 500 by 12%.

Tailwinds Forming for Health Care

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Tailwinds Forming for Health Care

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.