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He likes this. They have a diversified pipeline. Had a couple of mishaps. A fair amount was baked into their Alzheimer’s drug in November, and they kind of walked away from it. Also, their anti-inflammatory did not get FDA approval. There was some positive data from their Monarch pretrial, phase 3 of breast cancer. This is a very strong hold.
The whole drug sector in general has been suffering badly. For the last decade or so, it has been almost impossible to raise drug prices. The election of Donald Trump may be favourable to the drug sector. They are all suffering with the increasing movement of generic drugs, and all have relatively weak pipelines. Most of the pharma sector is struggling, and even cutting back on research and development. He would look elsewhere.