Analysis: Industry observers differ over future of big pharma stocks

10/12/2004 | NYTimes.com

Drug stocks have underperformed the broad market since February, and while financial analysts agree large pharmaceutical company stock prices are low, a looming election, patent expirations and hard bargaining by HMOs, among other factors, have many analysts disagreeing over what the future holds. Some analysts fear more regulatory pressure on drug companies with a change in presidents, while others see a Democratic president being held in check by a GOP Congress. Some are investing in other areas of health care, such as medical instruments and biotechnology.

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