Clouds Loom for Big Pharma
As big drug company executives look forward to next year, they can count on one big plus. John Kerry won't be president. And if you give them a few minutes, maybe they can think of something else.
Big Pharma enters 2005 with big problems. For example, there's legal uncertainty for Merck (MRK), because it withdrew the arthritis drug Vioxx from the market.
And for most of 2004, the biggest future uncertainty for Pfizer (PFE) was how to come up with big new drugs to drive growth at the biggest pharmaceutical company.
Worst-performing drug companies in 2004
|Company & Ticker||Dec. 27 Closing Price||Change|
|Forest Laboratories FRX||$45.26||-26.80%|
|Amex Pharmaceutical Index||315.15||-6.10%|
|Source: TSC Research|
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