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UK pharma in need of a tonic

UK pharma in need of a tonic

It’s tough to be a British investor with a penchant for big pharma. Since Hikma (HIK) took a dive in 2016, there are just three drugs companies left in the FTSE 100 and none of them is giving much cause for celebration. GlaxoSmithKline (GSK) and Shire(SHP) have both underperformed the benchmark in the last 12 months, while AstraZeneca(AZN) has morphed into a high-risk biotech stock, with a worrying reliance on positive clinical trial data. No longer a comfortable haven, bolstered by revenue visibility, whopping margins and generous dividends, big pharma in the UK has become a risky sector which is testing investor patience.

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