Pharma is one sector, where literally every company in the sector has gone through a phase where it is forced to have a look at its own business practices and model. From the US regulator being taken more seriously, to not indulge in speculative treasury practices, to not moving into the export market just for the sake of moving. The fact is the whole pharma sector and literally every company has gone through a good, bad and then a phase of learning and some of them are re-emerging. We look at them which had faced headwinds and now are emerging once again.
