PPH ETF: Drug Pricing Policy and Eli Lilly Concentration Are the Two Risks to Watch in 2026

PPH ETF: Drug Pricing Policy and Eli Lilly Concentration Are the Two Risks to Watch in 2026

Quick Read VanEck Pharmaceutical ETF (PPH) is 17.91% concentrated in Eli Lilly (LLY), which has fallen 16% year-to-date as generic GLP-1 competition and patent expirations in emerging markets threaten pricing power, while Novartis (NVS) holds 11.23% and Merck (MRK) holds 9.75% of the fund. Pfizer (PFE), Bristol Myers Squibb (BMY), Johnson & Johnson (JNJ), and Novo Nordisk (NVO) also face exposure to potential U.S. drug pricing negotiations that…