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Thursday, September 14, 2006

Riding the strength in Pharma with PPH & IXJ ETFs

By Yaser Anwar, CSC of Equity Investment Ideas

After a prolonged sideways performance during the first half, the pharma sector had a strong rally in recent months, which mimicked investor rotation to recession resistant drug stocks with robust second quarter profits, and improving prospects over the coming quarters.

Pharmaceutical companies like J&J, Merck, AstraZeneca, and Novartis have solid sales growth and rising stock prices.

Investors can bet on this sector with exchange traded funds such as: iShares Global Healthcare (IXJ) & the Pharmaceutical HOLDRs Trust (PPH), both ETFs hit a new high this month.

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