JPMF Global Healthtech Fund - Forsyth Rating: A

The healthcare sector has certainly not been the defensive sector many had hoped for during 2004. Patent expiries, drug specific disappointments and changes to Medicare/Medicaid all caused sentiment towards the sector to turn south. Although pharmaceuticals and some of the larger biotech companies will indeed suffer from price cuts on drugs in the US, it is expected that the increase in volumes will offset this for a large part. Patent expiries will continue to affect the large pharma companies but other companies will benefit. The sector is supported by demographic trends in the US, Europe...