Pfizer keeps declining, but it is not the only pandemic player to suffer.
Hopes for a better 2023 look optimistic as markets take another turn for the worse.
The biggest surprise is that there were a handful of risers despite the widespread market turmoil.
Pipeline performers including Lilly, Daiichi and Sarepta topped the stock market gainers last year, as the Covid trade was thoroughly unwound.
Months of share price declines made 2022 a year to forget for many, but large-caps staged a big recovery in the fourth quarter.
Lilly, Daiichi and Vertex are on track to be 2022’s best performing stocks, as the Covid crash continues.
With most glimmers of hope extinguished in the third quarter, 2022 is shaping up to be an annus horribilis for sector share prices.
The nightmare on the public markets is not confined to the bigger groups.
The worst half-year period for a decade leaves the biggest medical device companies half a trillion dollars poorer.