Drugmakers’ ‘Historical’ Shift Seen Lifting Share Prices

Drugmakers’ ‘Historical’ Shift Seen Lifting Share Prices

JB Reed/Bloomberg

Investors had punished drug stocks as their pipelines ran dry and blockbuster drugs such as Pfizer’s Lipitor cholesterol-lowering pill, the asthma treatment Singulair from Merck & Co. and Sanofi’s Plavix blood thinner lost patent protection and faced generic competition.