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Life Sciences Sector - A less defensive sector than in the past

Fernando Luque 02.07.2002
Regulators tightening requirements for patent approval combined with patent expirations and competition from the generics are putting pressure on the big pharmaceutical companies and explain the losses registered by this sector in May.

Investor sentiment

The Life Sciences sector (measured by the MSCI Health Care Index) has dropped 2.5% (in dollars) during May vs a 0.9% decline for the S&P 500. In great part this is due to its biotech component. For example, the Nasdaq Biotech Index has registered a loss of 11.1% during this period greatly influenced by the bad performance of Amgen (-9.9%), the world biggest biotech company.

The behaviour of the major pharmaceutical companies has been quite different from one company to another wi

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Fernando Luque

Fernando Luque  es el Senior Financial Editor de www.morningstar.es