{"id":14071,"date":"2011-08-30T09:30:00","date_gmt":"2011-08-30T07:30:00","guid":{"rendered":"http:\/\/www.fedaiisf.it\/mercato-azionario-il-pharma-traballa-ma-non-cade\/"},"modified":"2011-08-30T09:30:00","modified_gmt":"2011-08-30T07:30:00","slug":"mercato-azionario-il-pharma-traballa-ma-non-cade","status":"publish","type":"post","link":"https:\/\/www.fedaiisf.it\/en\/mercato-azionario-il-pharma-traballa-ma-non-cade\/","title":{"rendered":"Stock market: pharma wobbles but doesn&#039;t fall"},"content":{"rendered":"<p><font size=\"3\">The pharmaceutical sector has also been feeling the effects of the recent volatility. In fact, the MSCI index dedicated to the sector lost 6.5% in the last month (data as of August 29). Definitely better than the MSCI World, which left the 10.3% on the street in August.<\/font><\/p>\n<p><font size=\"3\"><strong><span style=\"color: rgb(204,51,51)\">Rising costs <\/span><\/strong>One of the main problems of Western countries is the budget deficit. To reduce it, taxes can be raised, expenses can be reduced; or better yet do both. The main expense item is almost always health care. Suffice it to say that according to the US CBO (Congressional Budget Office), spending on health went from 4.8% of GDP in 1960 to 16.5% in 2009. Despite the attempts by European and other governments to make general cuts to improve the fiscal situation, it is difficult to think that these will heavily affect the health sector.<\/font><\/p>\n<p><font size=\"3\">This happens for several reasons: medicines and health treatments become more expensive over time, as they are more effective and require more advanced technology; without forgetting that for their own health people are not willing to sacrifice quality for a lower price, as is the case with other goods or services. Then there is the issue of population ageing. The demographic trend that affects all developed countries leads to an increase in health-related costs.<\/font><\/p>\n<p><font size=\"3\"><strong><span style=\"color: rgb(204,51,51)\">Opportunities in animal health <\/span><\/strong>The sub-sector of<em>Healthcare<\/em> dedicated to animals is often snubbed by investors, but according to David Krempa, an analyst at Morningstar, it is undervalued and could therefore give some satisfaction. Probably, the little interest is caused by the small size of the sector and the low transparency of the companies operating in the field, which makes them difficult to analyze. \u201cHowever, we think this subset will experience revenue growth,\u201d Krempa said in a recent note. \u201cThanks to the growth in the demand for animal drugs and treatments and at the same time as the expiration of some patents related to human drugs, we expect that 7% of total pharmaceutical sales will come from animal products in 2015, compared to 5% in 2010\u201d .<\/font><\/p>\n<p><font size=\"3\">Including such a position in the portfolio could also bring more stability, as companies that have pharmaceutical products for animals are much less volatile than those that deal with products for human beings. The reason is simple: pet products require less capital, less research, less time, and have a streamlined approval process.<\/font><\/p>\n<p><em>August 30, 2011<\/em>&nbsp; <img","protected":false},"excerpt":{"rendered":"<p>Anche il settore farmaceutico ha risentendo della recente volatilit&agrave;. Infatti, l&rsquo;indice Msci dedicato al comparto ha perso nell&rsquo;ultimo mese il 6,5% (dati al 29 agosto). Decisamente meglio dell&rsquo;Msci World, che ha lasciato per strada il 10,3% in agosto. Costi crescenti Uno dei problemi principali dei paesi occidentali &egrave; rappresentato dal deficit di bilancio. Per ridurlo &hellip;<\/p>","protected":false},"author":1,"featured_media":9846,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[90],"tags":[],"class_list":["post-14071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fedaiisf-archivio-storico"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.fedaiisf.it\/en\/wp-json\/wp\/v2\/posts\/14071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fedaiisf.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fedaiisf.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fedaiisf.it\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fedaiisf.it\/en\/wp-json\/wp\/v2\/comments?post=14071"}],"version-history":[{"count":0,"href":"https:\/\/www.fedaiisf.it\/en\/wp-json\/wp\/v2\/posts\/14071\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fedaiisf.it\/en\/wp-json\/wp\/v2\/media\/9846"}],"wp:attachment":[{"href":"https:\/\/www.fedaiisf.it\/en\/wp-json\/wp\/v2\/media?parent=14071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fedaiisf.it\/en\/wp-json\/wp\/v2\/categories?post=14071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fedaiisf.it\/en\/wp-json\/wp\/v2\/tags?post=14071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}