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Pharmaceutical companies may not have been immune to the weak economy, but its effects on pharma “have not been as dramatic as some of the other sectors,” said Catherine Arnold, senior pharmaceuticals analyst at Credit Suisse.
Pfizer reported a better-than-expected profit as cost-cutting helped offset sharply lower sales of its cholesterol fighter and its anti-smoking drug on Tuesday morning, while Bristol-Myers Squibb said its profit slipped 3 percent, as negative foreign exchange factors and falling sales of its cancer medicine more than offset higher revenue from other medicines.
“Although neither [Pfizer or Bristol-Myers Squibb] are necessarily the major pharmaceuticals that produce anti-viral medicine for pandemics, big drug companies do play a role in having an important mission,” said Arnold.
She named her favorite makers of anti-viral drugs.
Arnold's Picks:
Roche
Gilead [GILD
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GlaxoSmithKline [GSK
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Arnold also said she has an outperform rating on Pfizer [PFE
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More Swine Flu News From CNBC.com
- Companies Start Initial Work on Vaccine
- Deathtoll Rises in Mexico
- Flu Impact: Latin America Stock IndexesDisclosure:
Arnold does not own shares of any of the companies mentioned above.
Data is a real-time snapshot *Data is delayed at least 15 minutes