Specialty Pharma Underperforms S&P 500 For First Time Since 2009

As the year winds down, good riddance might be a popular sentiment for specialty pharma, which underperformed against the S&P 500 for the first time since 2009 as Martin Shkreli, Epipen "gauging" and Valeant  "scandal" stories took their toll. But the theme for 2017 might not be a whole lot better. Try uncertainty.

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Even though Morgan Stanley is calling execution key to the industry’s prospects in the new year, it is categorical in calling pricing uncertainty “front & center” of investors' minds. This is because of multiple factors – risks of...