J&J’s Medtech division outshone pharma while recently launched innovative products contributed minimally: it is to be hoped investors’ reactions to the first set of big pharma Q1 results will not set the tempo for earnings season.

In contrast to the SEC’s view that public companies’ regulatory filings give investors all the information needed to make an investment decision, the discount rate used to value a company may not reflect all its risks.

Healthcare conglomerates that divorce consumer, animal health and even generics businesses from their pure-play branded pharmaceutical groups could leave a less diversified and riskier sector in uncertain times. But the advantages are apparent.

The overused phrase ‘pipeline in a product’ translates to ‘disappointment in a product’ when the number of indications in the pipeline contracts towards zero.

Social media-promoted vaccine hesitancy could have been a factor in the dip in established fourth-quarter vaccine sales with younger age groups targeted rather than seniors. Other drug categories may benefit from lifestyle changes prompted by the pandemic.

As drug pricing continues its ascent among hot button issues, the multi-million-dollar price tags for one-and-done advanced therapies, their justification and reimbursement all remain unaligned.