Gauge 01 · Defensive cash flow side
Pharma Giants
LLY · NVO · JNJ · PFE · MRK · ABBV and 9 more mega-caps.
— /100
Loading
—Momentum
—Valuation
—Insider
Daily Healthcare Sentiment
Pharma giants and biotech don't trade together. So we don't measure them together.
Two parallel sentiment gauges — one for mega-cap pharma, one for small and mid-cap biotech — plus an M&A pulse drawn straight from SEC filings, an FDA calendar of upcoming catalysts, and a managed care watch on the major insurers. All free, all daily, no signup.
Gauge 02 · Pipeline-driven side
Biotech
XBI breadth, IBB ratio, runway pressure, capital markets pulse.
— /100
Loading
—Breadth
—XBI / IBB
—IPO Pulse
Managed Care Watch
Loading
Six-name basket vs XLV — status pending.
UNH · ELV · CI · HUM · CNC · CVS
M&A Pulse
Big pharma's view of biotech valuations, drawn straight from SEC 8-K filings.
Deals · 90d
—
vs prior 90d period
Median premium
—%
over pre-deal close
Aggregate value
—B
announced 90d total
Days since $1B+ deal
—
last megadeal
FDA Calendar
Upcoming PDUFA dates and AdCom meetings for the most-watched names.
Upcoming—
—
Awaiting first FDA refresh
PDUFA
Calendar populates from FDA.gov weekly.
The two-gauge thesis
Healthcare is not one trade. Mega-cap pharma is a story about patent cliffs, dividend cash flow, and GLP-1 leadership — companies measured in tens or hundreds of billions of dollars in market cap, with stable revenue and quarterly buybacks. Small and mid-cap biotech is a story about clinical pipelines, capital-markets access, and FDA decisions — many names trade near cash value during downturns and triple on a single Phase 3 readout.
A single composite "healthcare sentiment" score would average these into noise. The two gauges keep the divergence visible. When pharma is in Greed and biotech is in Fear, that itself is the signal — and it's the signal that's mattered most over the past three years.
Health insurance companies appear in Managed Care Watch as a status strip, not a third gauge — their drivers (medical-loss ratios, MA rate notices, regulation) don't move with pharma or biotech catalysts.
Common Questions
Why two gauges instead of one healthcare score?
Pharma giants and biotech are not the same trade. Mega-cap pharma is driven by patent cliffs, dividend cash flow, and GLP-1 leadership. Small and mid-cap biotech is driven by clinical pipelines, capital-markets access, and FDA decisions. A single composite would mask the divergence that defines this sector.
What is the M&A Pulse?
The M&A Pulse tracks merger and acquisition activity across healthcare using SEC 8-K filings tagged for definitive agreements in healthcare SIC codes. It surfaces rolling 90-day deal counts, median premiums paid, aggregate deal value, and days since the last billion-dollar deal. M&A is the most direct signal of how big pharma views biotech valuations.
What does Managed Care Watch track?
Managed Care Watch is a status strip covering the major health insurers (UNH, ELV, CI, HUM, CNC, CVS). It is intentionally not a third gauge because insurance dynamics — medical-loss ratios, Medicare Advantage rate notices, regulatory exposure — are different from pharma or biotech catalysts. The strip flags whether the segment is stable, pressured, or stressed based on basket performance versus XLV.
How often is the data updated?
Sentiment gauges and the managed care strip refresh daily after US market close. The M&A Pulse refreshes daily from SEC EDGAR. The FDA Calendar updates weekly from FDA.gov. Past-day market data may be delayed up to 15 minutes during trading hours.
Where does the data come from?
Yahoo Finance for prices and ratios, SEC EDGAR for insider activity (Form 4) and M&A filings (8-K), Finnhub as a quote failover and for the earnings and IPO calendars, FRED for relevant macro series, and FDA.gov for the catalyst calendar. All sources are public and free.