Billionaire hedge fund manager John Paulson remains bullish on the pharmaceutical sector and its prospects for consolidation, even as a raging debate on drug price gouging and tax-dodging merger deals hangs over the industry and cuts into the performance of his struggling hedge fund, Paulson & Co.
Paulson’s biggest holdings heading into 2016 - Allergan, Mylan, Valeant Pharmaceuticals, Shire and Teva Pharmaceuticals – have all performed poorly, punishing returns. A short-to-medium turn in performance for Paulson hinges of a recovery of these battered-down stocks.
