The latest earnings report from the USPTO shows that stocks in the healthcare and pharmaceutical sectors made up the largest share of the company’s net income in 2016.
In the fourth quarter of last year, the US pharmaceutical industry recorded a profit of $2.6 billion.
That is up 11% on the previous year, while the healthcare industry’s profit was $1.8 billion.
The pharmaceutical sector’s net profit was just $743 million in the fourth-quarter of last month.
“The pharmaceutical industry’s growth rate, which is the average rate of growth for the past 10 years, is almost as good as the growth rate for the overall economy,” Dr J.P. Dolan, the chairman of the US Securities and Exchange Commission (SEC) and former president of the Securities and Investment Committee of the United States, told the BBC.
“So, the pharmaceutical industry, which had an enormous growth rate in the past decade, is actually growing at a slower rate than the overall economic growth rate.”
“So I think that’s a positive sign,” Dr Dolan added.
“But the bigger picture is, if you’re going to make money in this sector, you have to take care of your business.”
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