Prognosis
Drug Stocks Slide as Never-Ending Political Worry Gathers Steam
- Drug industry status quo faces political and market pressures
- Tensions subdue agenda-setting health-care conference
Photographer: Dhiraj Singh/Bloomberg
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Once-untreatable cancers and rare diseases are being vanquished. Medical breakthroughs have put Ebola and HIV on the back foot, even as new viruses emerge. Drug stocks have touched record highs after a decade of gains.
But at the industry’s biggest annual gathering, a San Francisco investor meeting that draws in thousands from biotechnology, pharmaceutical and insurance companies, plus investors, bankers and consultants, there was a sense of uncertainty, even worry.