Drug stocks have remained relatively cheap, and you'll notice that since interest rates are of little importance to the major pharmaceutical companies ... there's a run toward some of the defensive characteristics of drug stocks. |
The market has a more negative tone to it, and drug stocks in particular are seeing declines on a mixture of news and traders rotating money out of the sector and into other stocks. |
We're dealing with the courts, and lots of unfortunate mistakes come in trying to divine what the courts will do. Both companies are facing something only a few weeks away; it could be good or bad for either. |