Healthcare's Balance Between Science and Commerce

Goldman Sachs Exchanges

Goldman Sachs

Business

4.4 • 1K Ratings

🗓️ 13 July 2016

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jami Rubin, business unit leader of the Healthcare Research Group for Goldman Sachs Research, discusses top trends in healthcare, including progress in the fight against cancer, diabetes and Alzheimer's, cutting-edge science in gene therapy and gene editing, and how the drug industry is dealing with debates over pricing and mergers. This podcast was recorded on June 17, 2016. All price references and market forecasts correspond to the date of this recording. This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in this podcast does not constitute research or a recommendation from any Goldman Sachs entity to the listener. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefor (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast are not necessarily those of Goldman Sachs, and Goldman Sachs is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by Goldman Sachs to that listener, nor to constitute such person a client of any Goldman Sachs entity. Copyright 2016 Goldman Sachs. All rights reserved.

Transcript

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0:00.0	This is exchanges at Goldman Sachs where people from our firm share their insights on developments
0:13.2	currently shaping markets, industries, and the global economy. I'm Jake
0:17.0	Seawert, Global Head of Corporate Communications here at the firm. It's been a very
0:20.6	interesting year for the healthcare industry. On the one hand, we're seeing tremendous
0:23.5	innovation and progress in areas like immuno oncology, gene editing, but we're also seeing a big debate about
0:30.3	skyrocketing drug prices and regulatory uncertainty has been holding back merger activity.
0:36.0	Jamie Rubin, who heads US healthcare research at Goldman, is here today to talk about some of the movements in the sector.
0:43.2	Jamie, welcome to the program.
0:44.8	Thank you very much for having me.
0:46.6	Jamie, you recently hosted Goldman's annual Global Health Care
0:49.6	Conference, and you brought together investors and she analysts and company leaders to discuss trends in the health care sector.
0:55.0	How did you describe the tone that emerged from that conference and what were some of the big themes that investors are focused on?
1:00.0	Right. So the tone of the conference I would describe as cautiously optimistic.
1:05.2	This was our 37th annual health care conference where we bring together about 120 companies
1:10.7	and about 450 institutional investors.
1:13.9	And keep in mind, Jake, that health care
1:16.4	is the second worst performing sub-sector
1:19.5	of the S&P this year.
1:21.0	So the mood isn't great. But my sense is that the mood is starting to
1:25.0	pick up a little bit, and that's really driven by the following three themes. Number one,
1:29.4	innovation remains alive and well throughout pharma and biotech, particularly in pharma, with major advances in
1:35.9	oncology such as immuno oncology.
	...

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