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Goldman Sach's 5 Large-Cap Pharma Stock Favorites Ahead of Earnings

Large-cap pharmaceutical stocks have underperformed the S&P 500 this year, pressured by the political climate and earnings estimate revisions, according to Goldman Sachs.

"While a challenging macro environment including pricing scrutiny is likely to persist, we expect in line [first-quarter] results with FX (foreign exchange) reversal tailwinds driving upside to guidance," Goldman analysts led by Jami Rubin wrote in a note on Friday, noting that investors in pharmaceuticals have been too distracted by currency issues, which seem to finally...