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[hfe_template id='11223'] [ad_1] Wall Street's three major indexes closed down around 1% on Monday while Treasury yields rose, as traders tamped down bets for Federal Reserve interest-rate easing and worried about the Middle East conflict's impact on oil prices. While waiting for quarterly earnings season and fresh economic data, investors also braced for another big hurricane, Milton, which is expected to hit the United States this week. Relief efforts are under way after Helene, a Category-4 hurricane, killed more than 200 people across six states. Further dampening sentiment on Monday was an order from a U.S. judge for market heavyweight Alphabet's Google to overhaul its mobile-app business to give Android phone users more options. Analyst reports also spurred selling of Amazon.com and Apple Inc. After Friday's stronger-than-expected jobs report, traders pulled back from bets for a 50-basis-point rate cut in November. They were pricing in an 86% chanc...

[hfe_template id='11223'] [ad_1] Over the past few months, the market witnessed a sharp rally in pharma sector stocks, one of the key drivers behind this surge is ‘Patent Cliff.’ A Patent cliff occurs when a significant number of drug patents expire and other companies are allowed to manufacture similar drug. Typically, the patent of a drug lasts for 20 years, during which the innovator company enjoys a monopoly in the market and hence commands the premium on that drug's pricing. This period of exclusivity allows companies to maximize their revenues, profits, and overall growth. Upon patent expiry, the other generic drug manufacturers step into the game and they are allowed to produce and sell the same drug under a different brand name. Due to the sudden influx of manufacturers, the volumes of the drug skyrocket for production ultimately leading to lower cost of manufacturing and lower pricing of the end medicine. The Impact on Pharmaceutical Industry This industry r...