The US is set for a wholesale re-engineering of its costly healthcare system, explains David Pinniger, manager of the International Biotechnology trust.
“The only thing that is constant is change”. This famous epigram by the Greek philosopher Heraclitus should be well appreciated by professional investors. When it comes to capitalist economies, structural change in the way businesses - indeed entire industries - capture value for their participants tends to be relatively gradual. But every now and again structural change happens very quickly, whether driven from outside pressures, disruptive internal innovation, or sometimes both. With this in mind, investors in the healthcare industry - generally perceived to be a relatively stable, ...
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