Headwinds ranging from an expected renewal of political wrangling over the price of prescription drugs to increasing pressure on sales of established treatments have largely, but not entirely, kept pharmaceutical companies from enjoying the increases of their biotech counterparts, as reflected in the share prices of exchange-traded funds (ETFs) consisting of pharma equities.
Two of three pharma ETFs showed year-over-year declines as of November 13, while the third showed an increase in the low single digits. That ETF was the NYSE ARCA Pharmaceutical Index (DRG), which rose 2.8% year-over-year, to $608.31. By comparison, SPDR S&P Pharmaceuticals ETF (XPH) fell 12.7%, to $38.14, while iShares U.S. Pharmaceuticals ETF (IHE) dipped by 6.5% from a year ago, to $143.91.
