Healthcare stocks take hit along with broader market
Wall Street Journal (subscription required), October 27, 2008
Healthcare stocks have dropped alongside another swoon in the broader market, pouring water on the notion that the industry is a safe place to hide when the economy heads south. Many areas within healthcare are traditionally viewed as economically insulated, and indexes tracking big pharmaceutical and medical-technology companies have declined less precipitously this year than other indexes. But concerns about the harmful impact from higher out-of-pocket patient expenses, or the push toward generic drugs, are taking a toll.