In ER, what is the difference between biotech, pharma, healthcare>

red2016's picture
Rank: Monkey | 61

For example, it seems like some banks have different divisions and even for something like... AMGEN, it can be listed as a biotech at some and healthcare equity at another shop.
Is there a difference or are they all one and the same?

Please clarify! Thanks!

Comments (4)

Aug 18, 2018

Healthcare is usually the broad overarching group. Pharma, biotech, providers, healthcare tech, etc are the more specific groupings.

Biotech is usually going to be companies that develop and sell biologic drugs (super complex molecules that are grown). Pharma will usually refer more to companies that develop and sell small molecule drugs (not complex drugs that are made via chemical processes - also small molecules are usually ingested orally, while biologics are injected/infused).

Healthcare could be the catch all for everything else, or there could be more categories.

    • 1
Aug 18, 2018

but for example, at larger banks, is it possible that they have separate teams for Healthcare and Biotech and Pharma? and then a senior analyst for each of those? and also, even subdivisions like large cap, small cap senior analysts? Or is there just ONE main head senior analyst

Aug 18, 2018

At least at the banks we work with, it is usually a different team for each subcategory. It might depend on the firm, but like Morgan Stanley has a different team (with senior analyst and associates) for biotech, pharmaceuticals, providers, tools, devices, etc.

Aug 19, 2018