The main story here remains Cobenfy, the company's new schizophrenia drug.
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We are making a pharmaceutical position swap into Wednesday's relief rally.
We're adding to a consumer name and starting a position in another. Plus, we're trimming a rallying drug stock.
We're not making a call on the upcoming results, but we would like to have more wiggle room.
Our trim is not due to a slowdown in the company's business.
The stock has bested the S&P 500 this year after a long period of being a drag on our portfolio.
Our sale does not change our long-term thesis.
