Biotech Values

[DewDiligence]

>>...a talking head on CNBC this AM said that PFE was overblown--even if MUST withdraw Celebrex, it would still be trading at 13 x's earnings (currently at 11 x's) I know you reloaded--any SPECULATION or thoughts on when and where it might stabilize?<<

I really have no idea. It’s my style to buy in these situations without worrying unduly about catching the bottom.

Big pharma’s being stuck in Wall Street’s doghouse will not be a long-term phenomenon. I don’t think we are going to see drug-price controls in the U.S., and nothing else has the potential to cause this sector irreparable harm.

If your horizon is sufficiently long, the dual tailwinds of an aging population and scientific advancement ought to blow through any obstacles.