Shares of WebMD and Everyday Health have taken a nosedive in recent days on fears and uncertainty surrounding Democratic presidential frontrunner Hillary Clinton’s new prescription drug price capping plan.

Despite the fears, Cowen and Company analyst Charles Rhyee sees the drop as a buying opportunity for both names and believes that Clinton’s plan could end up serving as an important catalyst in the pharmaceutical industry’s transition to digital advertising.

Ad Budgets In Jeopardy

A major part of Clinton’s plan includes revoking pharma companies’ ability to write off consumer-directed advertising for tax purposes. In addition to eliminating this privilege, Clinton’s plan also calls for a greater percentage of revenue to be spent on research and development.

According to Rhyee, the end result of these changes would be that companies would spend less money on advertising, which could negatively impact brand awareness of name-brand drugs.

Selloff Overdone

Rhyee believes…

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