The stocks of the world’s largest drug makers and the top three specialty medical device makers all rose in the fourth quarter of 2017, with the stock markets and the economies of the developed world enjoying their best periods in a decade.
The U.S. stocks rose, the Dow Jones Industrial Average gained 1.5%, and the S&P 500 gained 2.3%.
The Nasdaq and the Russell 2000 both closed higher.
The health and pharmaceutical industries were among the strongest performers.
The industry’s growth has been fueled by the soaring demand for a range of new treatments and therapies, such as vaccines, that are less costly and can be delivered more quickly.
The pharmaceutical industry, meanwhile, has been battered by the opioid epidemic, which has killed hundreds of thousands of people and forced tens of millions more from their homes.
Its stocks have risen since the election of President Donald Trump, with some stocks seeing their biggest gains in years.
The Nasdaq was up 6.9% in the quarter, while the Russell 3000 rose 6.5%.
The S&s, meanwhile , rose 8.4%.
Drugmakers were able to make a lot of money during the election, but their profits haven’t been nearly as strong.
The pharmaceutical sector lost $1.5 trillion, according to a report from the Institute for Supply Management.
The sector’s profits in the first quarter were $8.4 billion, and in the second quarter were about $6.2 billion.
In the fourth-quarter, pharmaceutical stocks posted their best fourth-period performance since March 2014, when they recorded their worst fourth-quarters in three decades.
The S &Ps rose 2.2%.
The Dow Jones, meanwhile closed up 9.7%, while the Nasdaq rose 2%.
The S&p 500, meanwhile was up 4.9%, the Nasabys gained 5.4%, and in biotech stocks, Pfizer and Biogen Idec both rose 7.5% and 3.4% respectively.
The Nasabies was up 7.9%.
The healthcare industry’s earnings have also been stellar.
In the fourth quarters of 2017 and 2018, it generated a $2.5 billion profit, and the industry generated $4.2 trillion in revenue in 2021.
In 2018, the industry reported $2 trillion.
Healthcare spending accounted for about $1 trillion of the overall U.s. economy.