Same response as yours basically. Haven't looked at Novartis but will do so. My prejudice on the established drugs is that while they are fairly safe, they are also probably very toppy. Which in their case does not mean 20-40% near term declines as it can when even great tech (eg. csco, intc) are toppy, but does mean complete stall out for long time, with maybe 10% sort of near term declines....This is not applied to Novartis, which I don't know, but perhaps PFE,Warner Lambert, etc.
I.e. these days pangloss unstoppable bull because, well it has been, is gone, valuation matters, one way or another....
Regards, doug |
