Healthcare

Dr. Evans is a 20 year industry veteran and leads the Healthcare practice at SSR.  As a senior executive in the pharmaceuticals industry, Dr. Evans responsibilities ranged from corporate strategy to the pricing and distribution of the company’s products.  His variety of assignments provided a comparable variety of vantage points on the industry.  As an analyst with Sanford C. Bernstein, he was ranked #1 by both Bloomberg and Institutional Investor for his U.S. pharmaceuticals coverage – across all industries and coverage he was ranked one of the top 20 analysts worldwide.  Dr. Evans is the author of “Health and Capital” published in August of 2009.  He is a co-founder of Sector & Sovereign Research, LLC.

Coverage Universe

In order to understand dynamics at the sector, subsector and firm level, we monitor relative valuation and share price performance throughout healthcare. By tracking firms relative to their (cap-weighted) subsectors; subsectors relative to the healthcare sector; and the healthcare sector relative to the broader market we are able to highlight high and low outliers, track variability in relative performance and steer our analytic agenda to the most investable opportunities. The full review capturing data at the company level is available here and by e-mailing Healthcare Research or calling (203) 901-1632.

HC-8.20.14

Recent Blog Posts

May 4, 2012 – April “Employment Situation” Report Mixed on Healthcare Hours. A Flu Effect?

The Bureau of Labor Statistics on Friday published the April 2012 Employment Situation report, which includes payrolls and hours worked at the industry level through March 2012. While aggregate healthcare hours, and medical / surgical hospital hours were slightly up in March as compared to February, and had sequential improvement in y/y growth, physician office hours demonstrated some weakness…

See more at our Healthcare blog

 

Research Archive

Registered clients can download reprints at no cost by clicking the titles below. Please contact your sales representative for log-in credentials

August 12, 2014 – SSR Health New Product Approval Portfolios & Supporting Data Update

August 7, 2014 – CORRECTION: GILD v. ABBV: An In-Depth Review of Global Sales Prospects for Current-Generation Hepatitis C Treatments

July 28, 2014 – SSR Index of Current-Quarter Healthcare Demand Growth: Final 2Q14 Estimates

July 10, 2014 – SSR Health New Product Approval Portfolios & Supporting Data Update

July 7, 2014 – The Bull Case for Specialty Drug Pricing

June 25, 2014 – SSR Index of Current-Quarter Healthcare Demand Growth: Interim 2Q14 Estimates

June 24, 2014 – Net HIE Premiums Growing Faster Than Incomes; This is Likely to Accelerate

June 17, 2014 – Early Look at 2015 HIE Rates: Avg. Increase = 10%

June 10, 2014 - Large Pharma’s ‘Established’ & ‘Growth’ NEWCOs: A Solomonic Path to More Efficient R&D?

June 3, 2014 – SSR Health New Product Approval Portfolios & Supporting Data Update

May 23, 2014 – SSR Index of Current-Quarter Healthcare Demand Growth: Initial 2Q14 Estimates

May 15, 2014 – Poor R&D Productivity as a Self-Inflicted Injury: Who’s Missing the Most Toes, and Why

May 9, 2014 – BIG Monkeys & a Looming Intervention: Pharma’s US Pricing Addiction

May 8, 2014 – Co-Pay Cards & the Stalling of Drug Rebate Growth Part II – The HIE ‘Test Case’

May 7, 2014 – Relative Price & Value of pre-Phase III Pipelines for the 23 Largest Drug & Biotech Companies – Updated View

May 5, 2014 – MRK: R&D Productivity, as Compared to Peers

April 28, 2014 – SSR Health New Product Approval Portfolios & Supporting Data

April 23, 2014 – PFE/AZN: R&D Productivity in the Context of a Theoretical Merger

April 21, 2014 – SSR Index of Current-Quarter Healthcare Demand Growth: Final 1Q14 Estimates

April 16, 2014 – Medicaid HMOs: Growth Prospects Undervalued

April 14, 2014 – ACA Enrollment Round-Up

April 7, 2014 – Index of Generic Drug Acquisition Costs Now Available to Pharmacies Nationwide

April 2, 2014 – The Bull Case for PCSK9 (AMGN, SNY, REGN, PFE): Why Estimates Are Too Low

March 25, 2014 – SSR Index of Current-Quarter Healthcare Demand Growth: Interim 1Q14 Estimates

March 5, 2014 – The Trouble with Hospital Pricing

February 26, 2014 – SSR Index of Current-Quarter Healthcare Demand Growth: Initial 1Q14 Estimates

February 20, 2014 – ACA Enrollment and Adverse Selection Pressures – An Update

February 19, 2014 – Harvest Time for the Bill Collectors? The ACA’s Narrow Hospital Networks May Spur Demand for Revenue Cycle Management (RCM) Services

February 3, 2014 – Your (HIE-based) Plan Doesn’t Cover That: A Comparison of Drug Formularies On and Off the Health Insurance Exchanges

January 21, 2014 – SSR Index of Current-Quarter Healthcare Demand Growth: Final 4Q13 Estimates and Thoughts on National Health Expenditure Data

January 20, 2014 – Adverse Selection on the HIEs – It’s Not (Just) About the Federal Website

January 19, 2014 – Drug Benefit Chicken: An Analysis of Benefit Designs on the Health Insurance Exchanges

January 7, 2014 – MRK v. AMGN: A Comparison of R&D Productivity

January 5, 2014 – Relative Price and Value of pre-Phase III Pipelines for the 22 Largest Drug & Biotech Companies

December 17, 2013 – SSR Index of Current-Quarter Healthcare Demand Growth: Interim 4Q13 Estimates

December 15, 2013 – Why Adverse Selection is Likely on the HIEs: A Simple Model of Enrollment Behavior

December 1, 2013 – Higher Premiums – and Higher Deductibles: An Analysis of Health Plans on Offer in 2014

November 26, 2013 – SSR Index of Current-Quarter Healthcare Demand Growth: Initial 4Q13 Estimates

November 19, 2013 – NVS: Share of Peer Group R&D Spending Exceeds Share of Peer Group Innovation Produced

November 17, 2013 - ACA: Web Problems and Political Drama are Temporary. Ambivalence of the Uninsured is Permanent

October 24, 2013 – LLY: Whether High R&D/Sales is Defensible – an Empiric Dissent

October 23, 2013 – SSR Index of Current-Quarter Healthcare Demand Growth: Inputs Delayed by Shutdown; Early Read Indicates Strong Flu Season

October 17, 2013 – DVA / FMS: Generic Epogen Accretive to EPS

September 24, 2013 – A Simple Yardstick for HIE Enrollment: CBO’s Revised Estimate Looks Like an Outer Bound

September 18, 2013 – SSR Index of Current-Quarter Healthcare Demand Growth, Interim 3Q13 Estimate

September 17, 2013 – Update on Generic Dispensing Margins: Even Ahead of the CMS Final Rule, AWP is no Longer the Prevailing Medicaid Standard

September 11, 2013 – SSR Health’s ‘Hidden Pipeline’ Analysis: Relative Price and Value of Pre-Phase III Pipelines

September 4, 2013 – Evidence of Rate Shock on the Individual HIEs: Weak at Best

August 30, 2013 – SSR Index of Current Quarter Healthcare Demand Growth, Initial 3Q13 Estimate

August 27, 2013 – Medicaid HMOs: More Growth, Less Risk

August 7, 2013 – Health Insurers’ Participation on the Health Insurance Exchanges; and Current-Market Premium and MLR Patterns by State

July 22, 2013 – Premium Inflation on the HIEs – Case Study of the California Individual Market

July 18, 2013 – SSR Index of Current Quarter Healthcare Growth, Final 2Q13 Estimate

July 8, 2013 – The Practical Relevance of the Employer Mandate Delay

June 26, 2013 – The SSR Healthcare Quarterly, Inaugural Edition

June 20, 2013 – SSR Index of Current Quarter Healthcare Growth, Interim 2Q13 Estimate

May 28, 2013 – PBM Bear Thesis Update: The AWP Alternatives Will Soon Be Here

May 20, 2013 – SSR Index of Current Quarter Growth, Initial 2Q13 Estimate

May 16, 2013 – Buckle Up! A Summary of Adverse Selection Pressures on Health Insurance Exchanges

May 7, 2013 – Cheap, Shy or Just Misbehaving? PFE Sells Viagra Direct to Consumers

April 29, 2013 – Why Smaller Employers Will Shift to Self-Funding; Who Wins and Loses

April 19, 2013 – SSR Index of Current-Quarter Healthcare Demand Growth, Final 1Q13 Estimate

April 9, 2013 – SSR Index of Drug and Biotech Pipeline Values

April 2, 2013 – Private Health Exchanges: Why They’re Coming; What They Mean

March 20, 2013 – WAG/ABC – Quick Strategic Read-thru; Better for WAG than ABC

March 19, 2013 – The Razorback Alternative: Is Arkansas’ Medicaid Game Plan a Blueprint for Others?

March 18, 2013 – SSR Index of Current-Quarter Healthcare Demand Growth, Interim 1Q13 Estimate

March 11, 2013 – Hedge Hospital Pricing Risks with Non-Rx Consumables

March 4, 2013 – The Medicaid Expansion & Why Hospital Pricing Peaks in 2013

February 26, 2013 – SSR Index of of Current Quarter Healthcare Demand Growth, Initial 1Q13 Estimate

February 11, 2013 -Investment Recommendations Across Healthcare, by Sub-Sector

January 17, 2013 – SSR Index of Current-Quarter Healthcare Demand Growth, Final 4Q12 Estimate – Expecting a Flu-Related Spike

January 16, 2013 – Flu Effects on US Health Demand

January 15, 2013 – The Incredibly Slow (But Very Nearly Certain) Death of AWP

December 18, 2012 – SSR Index of Current-Quarter Healthcare Demand Growth, Interim 4Q12 Estimate – Look for a Flu-Related Spike

December 17, 2012 – Why Medicaid Eligibility Will (Still) Level Off at 100 FPL

December 4, 2012 – A Simple Formula for Drug (and Biotech and Spec Pharma) Stock Selection – Updated

November 19, 2012 – SSR Index of Current-Quarter Healthcare Demand Growth, Initial 4Q12 Estimate

November 8, 2012 – An Index of the Value in Large Cap PharmaCos’ Mid- to Early-Stage Pipelines

October 26, 2012 – Why Premiums Should Grow Faster than Health Costs under ACA; and, Why a Staged Rollout of Health Insurance Exchanges is a Feasible Budget Compromise

October 22, 2012 – SSR Index of Current-Quarter Healthcare Demand Growth, Final 3Q12 Estimate

October 15, 2012 – US Healthcare Demand Part 4: Cyclical Effects

October 1, 2012 – US Healthcare Demand Part 3: Reform Effects – ACA Looks Like a Headwind

September 17, 2012 – SSR Index of Current-Quarter Healthcare Demand Growth, Interim 3Q12 Estimate: Hospital Pricing Accelerates; Unit Demand Slows

September 17, 2012 – US Healthcare Demand Part 2: Secular Headwinds

September 4, 2012 – US Healthcare Demand, Part 1: ‘Baseline’ Growth

August 16, 2012 – SSR Index of Current-Quarter Demand Growth: Initial 3Q12 Estimates

August 8, 2012 – Co-Pay Cards: A Bottle for the Drug Pricing Genie

July 27, 2012 – Medicaid Eligibility Capped at 100 FPL: The Logical Outcome of the SCOTUS ACA Ruling

July 18, 2012 – SSR Index of Current-Quarter Demand Growth; Lowering Estimate Back to 3.1% from 3.3%

July 9, 2012 – Medicaid Post-SCOTUS: Nevermind Whether States Choose to Expand; It Appears States Have the Choice to Shrink

June 29, 2012 – ACA Post-SCOTUS – What Matters Now

June 18, 2012 – SSR Index of Current-Quarter Demand Growth; Raising Estimate to 3.3% from 3.1%

June 14, 2012 – The Mechanics of Commercial HMOs’ Gross Profits: Why MLRs Should Remain Stable

May 31, 2012 – The Apparent Link Between Employment and Healthcare Demand

May 17, 2012 – Why HMOs are Cheap, Despite Rising Utilization

May 16, 2012 – SSR Index of Current-Quarter Healthcare Services Demand

May 2, 2012 – Is There a Cyclical Rebound in US Healthcare Demand? Evidence to Date from 1Q12 Results

April 16, 2012 – Healthcare Demand is (Cyclically) Improving Ahead of Estimates and Share Prices; Something Has to Give

March 27, 2012 – Why Losing the Individual Mandate is Good for HMOs, and other Earnings Consequences of Various Supreme Court Outcomes

March 12, 2012 – Accelerating Growth in Hospitals’, Physicians’ Offices and Other Care Settings’ Labor Hours Signals Improving Healthcare Demand

February 26, 2012 – Large cap Pharma’s Dependence on US List Price Growth is Unsustainable

February 6, 2012 – The Pro-Cyclical US Healthcare Thesis – Impact of ROW Economic Risks

January 24, 2012 – Hospitals’ Stable to Improving Net Pricing Power

January 12, 2012 – US Healthcare Demand Slow for Cyclical (Temporary) Reasons

November 14, 2011 – PBM Pricing Post-AWP – An Estimate of Sustainable Earnings Power

October 24, 2011 – ACA at the Supreme Court

October 11, 2011 – Below Zero and Falling Fast: Productivity as an Enterprise-Wide Crisis

October 6, 2011 – President’s Budget Proposal Points to More Pressure on Innovators

October 3, 2011 – Detailed Comparison of the AWP Replacements – AMP v NADAC

September 26, 2011 – CMS Starts to (Kind of) Publish AMP

September 9, 2011 – A Simple Formula for Drug Stock Selection

August 18, 2011 – CMS Takes Concrete Steps Towards Replacing AWP

August 15, 2011 – Market Appears to Misprice Risks to Healthcare Earnings from BCA

August 3, 2011 – Healthcare and the Budget Control Act of 2011

July 25, 2011 – ESRX, MHS, and the PBM Bear Case

July 11, 2011 – Why Employer Are Likely to Drop Health Insurance: A Simplified View

June 10, 2011 – What Next for the MLR cycle?

May 24, 2011 – Can Shuffling the Deck Create Growth?

May 5, 2011 – The Thread Holding Generic Dispensing Margins

 

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