A look for winners and losers finds a sector laid low by poor sentiment and Covid fatigue, with Lantheus, Vertex and Jazz providing a few bright spots.
Second-quarter share price movements give another glimpse of the dire state of the markets, but there might be reasons for optimism.
Amid a difficult start to the year for the drug development sector, Abbvie, Bayer, Ipsen and Lantheus stand out as stock market gainers.
A look at stock performances over the first quarter of 2022 shows the extent to which investors have backed away from high-risk drug development.
Lilly pips Pfizer to the big pharma top spot on share price performance, while Covid-19 drives the largest risers elsewhere.
Insulin pumps and glucose sensors flew off the shelves, whereas liquid biopsy developers both soared and sank.
A handful of huge success stories mask disappointing performances elsewhere, with small caps and Asian pharma firms feeling the pain.
Big-cap device makers on European exchanges did nicely in 2021, whereas their US-listed brethren had a harder time.
Moderna is the standout gainer, but the stragglers are becoming more apparent as the pandemic tide retreats.