Health-care reform is not the only thing big pharmaceuticals have to fear, according to Deutsche Bank's Barbara Ryan. There's also the rapidly-growing dominance of generic prescription drugs. Still, she likes several big-name companies in the field.
"The industry is rapidly restructuring its cost base, and that's driving earnings up," she told CNBC Monday. "I think what we're going to see, in the not-too-distant future, is that the pharma industry gets a lot more aggressive about acquiring biotechnology, which is going to add to their revenue and earnings longer-term." (See her full comments in the video).
Ryan likes Pfizer, Merck, and Bristol-Myers Squibb.
Among other things, she sees them involved in emerging markets to a much greater extent than the generic drugmakers.
Ryan's firm owns more than one per cent of Pfizer, Merck and Bristol-Myers Squibb, and those companies are all investment banking clients of her firm.