I think you can invest in Pharma all day long as long as you pick the correct ones. The only few I like right now are SGYP, CPXX, and KTOV. All of these have drugs that have had superb stage 3 results and are close to filings NDA's. If you are talking about stuff that has drugs still in stage trials then yes it could get shakey. Like I said I am really only looking at pharmas that have seen their drugs come through stage 3 trials. Not saying there is no risk because there is always a risk. But I think there is some form of comfort knowing their drugs have passed all the stages.
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