For the first part of the year,( the conference is) actually very important, it sets the tone.
By how the stocks are trading, the market thinks the deal is almost dead.
It is true that these larger companies are a little unwieldy to manage.
The best case through the end of year is range-bound for healthcare, maybe biased downward slightly.
Based on price per fundamentals, we like the value of merck versus bristol at the moment.
