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Weight loss drug makers still have huge upside, and the market overreacted to RFK Jr. named to top health role, BMO says

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Shares of obesity drug makers have tumbled since the nomination of RFK Jr. to lead HHS .

Investors are fearful Kennedy 's critical stance on the drugs could impact pricing or Medicare coverage.

Yet, BMO Capital Markets says the sell-off was overdone, and argues the role will have limited impact.

Kennedy has previously pledged to fight obesity with nutrition instead of GLP-1 drugs.