$Merck(MRK.US) rose about four points, $Unitedhealth(UNH.US) also gained slightly. The large-cap pharmaceutical and healthcare stocks are relatively strong. $Moderna(MRNA.US) and $Eloxx Pharmaceuticals(ELOX.US) both fell slightly, $3SBIO(01530.HK) basically didn't move. The innovative drug and small-cap biotech sectors are relatively weak.
Even within the same healthcare sector, large pharmaceutical companies and health insurers with stable cash flow and low valuations are being bought as defensive assets during market volatility, while small-cap biotechs lacking catalysts can only follow sentiment down. Large caps are stable, small caps are weak😔
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