Every winter has its spring
During the month of September, the higher-than- anticipated US Consumer Price Index print dominated the narrative. A global flurry of central banks followed in the FED’s footsteps and hiked rates, which in turn wiped out the early summer equity gains. The UK government’s economic plan only added to the chaos in markets. Healthcare stocks returned -3.9% in September, while global equities lost 9.3%. The sector’s year-to-date outperformance now stands at 9.0%.
What mattered this month in healthcare? The readout of the SELECT study was the single biggest healthcare event of the month. The results may open the door to wide reimbursement for GLP-1 weight-loss drugs. This led to an overreaction with significant price movements amongst many companies as markets just made blanket assumptions of a healthier, thinner world. Find out more in our monthly healthcare newsletter.
Remarkable Strides in Breast Cancer Survival: A Look at the Last Few Decades 🎗️📈 Intersted in knowing more? Check out Maria Specogna’s latest chart of the month video!
What mattered this month in healthcare? Second quarter earnings season kicked off to a strong start, with earnings overall better than estimates. However, positioning matters, and strong numbers were not always enough if expectations were high. Find out more in our monthly healthcare newsletter.