Blue Chip Drug Stocks Face ‘Reckoning’ on Future Downgrades

Blue Chip Drug Stocks Face 'Reckoning' on Future Downgrades

Shares of major drug makers including Pfizer Inc. (PFE), Eli Lilly & Co. (LLY), Amgen Inc. (AMGN), Novartis AG (NVS) and AbbVie Inc. (ABBV), are already dramatically lagging the broader market this year. Now, some market watchers expect the pharmaceutical giants to suffer pullbacks as profit concerns lead analysts on Wall Street to downgrade more shares of the leading pharma players, per Barron’s.

11 Companies Under Scrutiny on Drug Prices

  • AbbVie (ABBV)
  • Amgen (AMGN)
  • AstraZeneca (AZN)
  • Celgene (CELG)
  • Eli Lilly (LLY)
  • Johnson & Johnson (JNJ)
  • Mallinckrodt (MNK)
  • Novartis (NVS)
  • Novo Nordisk (NVO)
  • Pfizer (PFE)
  • Sanofi (SNY)

Source: Committee on Oversight and Reform, per Barron’s

In a note published earlier this week, S&P Ratings assigned the pharmaceutical industry a “negative” outlook for 2019, indicating that it expects more downgrades than upgrades for shares of drug companies.

Drug Giants Under Pressure to Slash Prices

Shareholder Demands Could Weaken Balance Sheets

Looking Ahead

Source link Google News

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