Healthcare stocks were the stars of the third quarter 2018, significantly outpacing many of the equity market’s other sectors. The Saratoga Health and Biotechnology Portfolio was led by the much-maligned pharmacy benefit managers, as political pressures eased. Managed care companies kept rolling during the period; the Portfolio benefited from holding each of the companies in the sub-sector.
A number of pharmaceutical companies have voluntarily declared they are freezing drug prices for the time being; this is likely a political response to the cries of outrage over rising drug prices. Shares of pharmaceutical companies performed well in the quarter, in spite of these political tensions, however this may not continue to be the case going forward.
Information contained herein was obtained from recognized statistical services and other sources believed to be reliable and we therefore cannot make any representation as to its completeness or accuracy. Any statements not of a factual nature constitute opinions which are subject to change without notice.
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