Mad money man Jim Cramer last week articulated his view of the giants in the pharma industry. "This is just one expensive graveyard of stocks," he said on his CNBC program.
Cramer cites the usual litany: expiring patents, R&D cuts and tougher FDA drug approvals. But there's another reason, he says. Big pharma is booting the advantage that generics have by increasing the prices of their brand-name drugs to offset losses.
Sell those big pharma stocks, he says, singling out Bristol-Myers Squibb, Eli Lilly, Pfizer, GlaxoSmithKline, Johnson & Johnson and Merck. "The growth and protection is gone from this sector."
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