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An uncertain future

Fund groups are not keen on the healthcare sector according to the latest Morningstar European Fund Trends survey.

Fernando Luque 16.09.2002
There are certainly good reasons to be cautious about the sector’s prospects. These include: the strong competition from generic producers against the large established firms, the difficulties involved in launching new products and the political drive to reduce the cost of drugs. But it would be a mistake to forget the positive factors that affect the sector in both the short term and the long term.

According to some analysts the industry’s earnings over the most recent quarter were the worst it has experienced over the past decade. A good example is Merck which has recently indicated that its second quarter profits declined by almost 4% because of competition from generic products.

Another problem is launching new products in the market. So far this

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Fernando Luque

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