According to Moody's Investors Service, the global pharmaceutical industry is on track to realize annual earnings growth of 3 percent to 4 percent over the next 12 to 18 months. Moody's believes the strong underlying fundamentals of the industry will be able to offset the effect of the strong U.S. dollar and political environment bringing increased scrutiny on the price of drugs.
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After being knocked down for the count in the first quarter of the year, the biopharma sector got off the canvas to post significant gains in April. The industry will be looking to maintain that renewed investor interest as its blue chip companies report their first quarter financial results. Strong earnings results and a positive outlook for the rest of 2016 will go a long way to counteract the negative sentiment, which continues to swirl around drug developers generated by the drug price "gouging" debate.
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