Michael Sen 1.2 1 idea

Fresenius manufactures 70% of what they cater to the US *in* the US. They are "doubling down" on local-to-local supply chains. IV generics are exempted from tariffs. In a global shipping crisis (Hormuz closed, 4,000 flights cancelled), companies with localized manufacturing are insulated from logistics inflation. Fresenius has a structural advantage over competitors relying on imports from India/China. LONG Fresenius SE (ADR) as a defensive healthcare play with supply chain immunity. Secondary effects of energy prices hitting hospital margins.