Ex-Dividend Alert: Gilead Sciences, Merck, and Horace Mann Educators
Upcoming Ex-Dividend Dates: Gilead Sciences Inc (GILD), Merck & Co Inc (MRK), and Horace Mann Educators Corp. (HMN) will trade ex-dividend on 12/15/25, with respective dividends of $0.79, $0.85, and $0.35 scheduled for payment on 12/30/25, 1/8/26, and 12/31/25.
Expected Stock Price Adjustments: Following the ex-dividend date, GILD shares are expected to open 0.65% lower, MRK by 0.87%, and HMN by 0.78%, based on their recent stock prices.
Dividend Yield Estimates: The estimated annualized yields for the upcoming dividends are 2.60% for Gilead, 3.48% for Merck, and 3.11% for Horace Mann, reflecting their historical dividend stability.
Current Trading Performance: As of Thursday trading, shares of Gilead Sciences, Merck, and Horace Mann are up approximately 1.7%, 0.8%, and 1.4%, respectively.
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Pharma Stocks on the Verge of a Breakthrough: Earnings May Propel Them Forward.
- Pharmaceutical Stocks Performance: Pharmaceutical stocks have recently reached new highs in the market.
- Earnings Potential: Upcoming earnings reports are expected to further boost the stock prices of pharmaceutical companies.

Trump Administration Launches Medicare Drug Price Negotiations
- Expansion of Drug Negotiations: The Trump administration has expanded Medicare drug price negotiations to include treatments administered in doctors' offices for conditions such as diabetes and HIV, affecting 15 drugs set to take effect in 2028, aiming to reduce out-of-pocket costs for beneficiaries.
- Spending Overview: According to the Centers for Medicare and Medicaid Services, approximately 1.8 million beneficiaries utilized these medications between 2024 and 2025, accounting for about $27 billion in spending, highlighting the significance of Medicare expenditures in drug price negotiations.
- Pharmaceutical Impact Assessment: Analysts indicate that for 14 of the drugs, only Gilead's Biktarvy significantly impacts the company's estimated 2027 global sales, representing around 8%, while other drugs' Medicare revenue exposure is limited to 0% to 3%, suggesting minimal overall revenue impact for pharmaceutical companies.
- Kaiser Settlement on Fraud: Kaiser Permanente has agreed to a historic $556 million settlement over Medicare Advantage fraud allegations, reflecting the government's stringent enforcement stance on Medicare fraud, which could have far-reaching implications for the industry.






