How’d Big Pharma do this year? Very well. I decided to give every drug company with a market capitalization greater than $50 billion a letter grade, just like in school. The basis for the grades: I started with stock performance as a basic metric, and then considered each company’s scientific and medical output, whether or not its behavior was ethical, and the general drift of its business. I skipped the medical device giants, Medtronic and Abbott.
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