U.S. Pharmas Rank 2nd To Tech Sector In Cash, But Spend It Differently, Moody’s Says
This article was originally published in The Pink Sheet Daily
Executive Summary
In an analysis of non-financial sector U.S.-based companies, Moody’s ranks pharma a remote second to the tech sector in terms of aggregate cash held as of mid-2013. While capital expenditures lead the aggregate group’s spending priorities, dividends and share buybacks top pharma’s list. Companies keep most of their cash overseas, a continuing trend.