Earlier this year, U.S. healthcare conglomerate Johnson & Johnson (NYSE: JNJ) announced that in the next four years, it expects to submit over 10 new medicines, which could potentially generate $1 billion in annual revenue each. Looking ahead, industry growth will be propelled by a slew of niche or specialized drugs with a targeted application for specific diseases. [Innovators to Support Healthcare Sector, ETFs’ Growth]
Moreover, J&J believes it will sustain above-industry compound annual growth through 2019 – the industry average compound growth rate is expected to be around 3% for the period. Looking ahead, industry growth will be propelled by a slew of niche or specialized drugs with a targeted application for specific diseases.
“Technician Ari Wald of Oppenheimer said he sees the sector rising another 5 percent to return to the July breakdown level around 850. The sector also hit an all-time high in July at 892,” reports CNBC.
Health Care Select Sector SPDR
