Biotech Values

[DewDiligence]

ABT and PFE have been trading as though they were engaged in a zero-sum game in the RA market; lately, when one stock goes down, the other goes up. (Today, it’s PFE up and ABT down.)

This seesawing price action is pretty silly insofar as the big story for both companies is The Global Demographic Tailwind and branded generics in emerging markets (#msg-59590951, #msg-61699995, #msg-61960541).