Divergence in the Drug Businesses: Pharmaceuticals and Biotechnology
aswathdamodaran.substack.com
In the last two weeks, I have started writing about Pfizer’s courting of Allergan, the epic fall of Valeant and the unraveling of the Theranos story, but I have held back because all three stories have to be set against the backdrop of the changing health care business. While there are numerous stories being told about how this is changing, I decided that it made sense to start by looking at the evolution of the health care business over the last 25 years and how changes in its core characteristics may explain all three stories.
Divergence in the Drug Businesses: Pharmaceuticals and Biotechnology
Divergence in the Drug Businesses…
Divergence in the Drug Businesses: Pharmaceuticals and Biotechnology
In the last two weeks, I have started writing about Pfizer’s courting of Allergan, the epic fall of Valeant and the unraveling of the Theranos story, but I have held back because all three stories have to be set against the backdrop of the changing health care business. While there are numerous stories being told about how this is changing, I decided that it made sense to start by looking at the evolution of the health care business over the last 25 years and how changes in its core characteristics may explain all three stories.