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Is Pharma Reentering a Golden Age of Innovation?

Innovation and productivity in the pharmaceutical industry has been in steady decline for decades. However, we believe the industry is poised for a comeback.

The views expressed are those of Diamond Hill as of September 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

As of July 31, 2020, Diamond Hill owned equity shares of Gilead Sciences, Inc., GlaxoSmithKline PLC, Pfizer, Inc., Alphabet, Inc. (Classes A&C), Novartis AG, Astellas Pharma, Inc. and Roche Holdings AG.

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