Kenneth Raposa

You can't be afraid if you take an action that you're going to break something and something's not going to go right. If something does not go right or goes terribly wrong, you know, tariffs are not permanent. You could remove them, right?

So all of a sudden, like I was telling you, if $100 time and 25% really was a 25% charge in addition to your $100 widget, which it is not, but if it was even close to that, you could always say, ah, that's too much for our consumers. That's too much for our economy. They're now gone. So it's not permanent.

So all of a sudden, like I was telling you, if $100 time and 25% really was a 25% charge in addition to your $100 widget, which it is not, but if it was even close to that, you could always say, ah, that's too much for our consumers. That's too much for our economy. They're now gone. So it's not permanent.

So all of a sudden, like I was telling you, if $100 time and 25% really was a 25% charge in addition to your $100 widget, which it is not, but if it was even close to that, you could always say, ah, that's too much for our consumers. That's too much for our economy. They're now gone. So it's not permanent.

But all the studies show, from the Boston Fed to the US Industry Commission show that tariffs are not a major factor for a play pit. It's money printing, right? Big problem there, government spending. Those are the main reasons for inflation, not power.

But all the studies show, from the Boston Fed to the US Industry Commission show that tariffs are not a major factor for a play pit. It's money printing, right? Big problem there, government spending. Those are the main reasons for inflation, not power.

But all the studies show, from the Boston Fed to the US Industry Commission show that tariffs are not a major factor for a play pit. It's money printing, right? Big problem there, government spending. Those are the main reasons for inflation, not power.

Sure. So when you think of the pharmaceutical market, there's two things. There's branded drugs, which would be like Some new drug, right? Some new branded drug that just came out a year or two ago. This is where the pharmacy companies like Pfizer make all of their money. And then there's the generic drugs, which is what most people take.

Sure. So when you think of the pharmaceutical market, there's two things. There's branded drugs, which would be like Some new drug, right? Some new branded drug that just came out a year or two ago. This is where the pharmacy companies like Pfizer make all of their money. And then there's the generic drugs, which is what most people take.

Sure. So when you think of the pharmaceutical market, there's two things. There's branded drugs, which would be like Some new drug, right? Some new branded drug that just came out a year or two ago. This is where the pharmacy companies like Pfizer make all of their money. And then there's the generic drugs, which is what most people take.

Somebody's on blood pressure medication or even something like Viagra. This is all generic medication now. So it's commoditized. It's lower cost. And the big pharmaceutical companies have decided that it's much easier for them to either, A, contract manufacture overseas, which India being one of the lead spots, followed by China. or just get out of the business altogether.

Somebody's on blood pressure medication or even something like Viagra. This is all generic medication now. So it's commoditized. It's lower cost. And the big pharmaceutical companies have decided that it's much easier for them to either, A, contract manufacture overseas, which India being one of the lead spots, followed by China. or just get out of the business altogether.

Somebody's on blood pressure medication or even something like Viagra. This is all generic medication now. So it's commoditized. It's lower cost. And the big pharmaceutical companies have decided that it's much easier for them to either, A, contract manufacture overseas, which India being one of the lead spots, followed by China. or just get out of the business altogether.

And so then those players in India and China, namely India, become the brand, like Dr. Ready or Cipla or Sun Pharmaceutical. These are all brands that they sound American, right? But they're not. They're Indian brands. And on the pharmaceutical side, I believe India is a culture of more than half, at least 60%, maybe more, of our pharmaceuticals, generic pharmaceuticals.

And so then those players in India and China, namely India, become the brand, like Dr. Ready or Cipla or Sun Pharmaceutical. These are all brands that they sound American, right? But they're not. They're Indian brands. And on the pharmaceutical side, I believe India is a culture of more than half, at least 60%, maybe more, of our pharmaceuticals, generic pharmaceuticals.

And so then those players in India and China, namely India, become the brand, like Dr. Ready or Cipla or Sun Pharmaceutical. These are all brands that they sound American, right? But they're not. They're Indian brands. And on the pharmaceutical side, I believe India is a culture of more than half, at least 60%, maybe more, of our pharmaceuticals, generic pharmaceuticals.

In order for them to even make these pharmaceutical goods, they rely on China for organic compounds and synthetic chemicals that go into your drugs, right? So China is a major component of the generic supply chain in the United States.

In order for them to even make these pharmaceutical goods, they rely on China for organic compounds and synthetic chemicals that go into your drugs, right? So China is a major component of the generic supply chain in the United States.

In order for them to even make these pharmaceutical goods, they rely on China for organic compounds and synthetic chemicals that go into your drugs, right? So China is a major component of the generic supply chain in the United States.

And not only that, because of China's Made in China 2025 policy, they're also moving way up the value chain, and China is investing heavily in branded drugs and new treatment, so they can become the Pfizer's and the AbbVie's of the world. And they're getting there. They're on par with a lot of our big biotech guys. For the US.