Michael Krensavage, pharmaceutical analyst at Raymond James, told CNBC’s “Morning Call” that strong revenue and earnings growth will reward investors in the pharmaceutical sector.
He said first-quarter revenue grew about 8% and earnings climbed about 10% as the sector benefited from the Medicare Prescription Drug program that President Bush signed into law last year.
“Growth is looking good for these companies,” Krensavage said Tuesday. “In addition, we’re seeing some improvement in the companies’ pipelines.”