Damien Conover and Rebecca Springer: ‘We Are in a Healthcare Consumerization Moment Right Now’
The Long View
Introduction
Damien Conover and Rebecca Springer discuss pharmaceuticals, biotechnology, service companies, and device companies within the healthcare sector, emphasizing economic moats and competitive advantages.
We have two guests this week on The Long View, our colleagues, Damien Conover and Rebecca Springer, who both focus on healthcare investing—Damien on the public equity side and Rebecca focusing on private markets for Morningstar PitchBook. Damien is director of healthcare research and director of equity strategy for Morningstar Research Services. Before joining Morningstar in 2007, Damien covered healthcare for Raymond James, Bank of Montreal, and Tucker Anthony. He holds bachelor’s and master’s degrees in finance from the University of Wisconsin, where he was a member of its applied security analysis program, and he holds the CFA designation. Rebecca Springer is lead healthcare analyst for Morningstar PitchBook, where she directs coverage of private market investing across healthcare and the life sciences. She has written extensively on P/E investing in healthcare providers, the growing role of retailers in healthcare, and value-based care. She has worked in nonprofit consulting and as a college lecturer. Rebecca holds a bachelor’s from Yale, a master’s from Cambridge, and a doctorate from Oxford.
Background
Anti-Obesity Drugs and Healthcare
“Obesity Drug Stocks: Where to Invest Now,” by Diana Anghel, Morningstar.com, Dec. 7, 2023.
“Eli Lilly Earnings: Pipeline Gains and Great Diabetes and Weight-Loss Sales,” by Damien Conover, Morningstar.com, Feb. 6, 2024.
“Eli Lilly’s Strong Position in GLP-1 Drugs and Powerful Pipeline Support Industry-Leading Growth,” by Damien Conover, Morningstar.com, Feb. 6, 2024.
“Walmart, Amazon and CVS Want to Disrupt Healthcare Services. Here’s How PE and VC Could Benefit,” by Rebecca Springer, PitchBook.com, Sept. 13, 2022.
“Q2 2023: Healthcare IT Report,” PitchBook.com, Sept. 12, 2023.
“Investment Opportunities in the Biopharma Industry,” by Karen Andersen and Damien Conover, Morningstar.com, April 5, 2024.
“Research & Development Is Driving Medical Breakthroughs and Exponential Growth Opportunities,” by Damien Conover, Morningstar.com, April 7, 2022.
“Healthcare Stocks: Valuations Look Attractive Across Almost All Industries,” by Damien Conover, Morningstar.com, April 3, 2024.
“Pfizer Highlights Pipeline to Address Post-2025 Patent Cliff, as Long-Term Growth Concerns Linger,” by Damien Conover, Morningstar.com, Dec. 12, 2022.
“Can Innovation Offset Biopharma Firms’ Losses From Patent Expiration?” by Damien Conover and Karen Andersen, Morningstar.com, March 21, 2023.
“A Wide-Moat Dividend Stock to Buy That’s 35% Undervalued,” by Damien Conover, Morningstar.com, Aug. 2, 2023.
“AbbVie: Cerevel Acquisition Brings High-Risk/High-Reward Neuroscience Pipeline Drugs at a Fair Price,” by Damien Conover, Morningstar.com, Dec. 7, 2023.
“How Weight Loss Drugs Will Reshape Healthcare,” by Rebecca Springer, PitchBook.com, Nov. 16, 2023.
“Healthcare Funds Report,” PitchBook.com, Feb. 26, 2024.
“Q3 2023: Healthcare Future Report: Weight Loss Drugs,” PitchBook.com, Sept. 29, 2023.
Covid Vaccines
“Pfizer Earnings: Cost-Cutting Remains on Track to Adapt to COVID-19 Product Sale Declines,” by Damien Conover, Morningstar.com, Jan. 30, 2024.
“Focus: Drug Companies Face Covid Cliff in 2023 as Sales Set to Plummet,” by Michael Erman and Patrick Wingrove, reuters.com, Feb. 6, 2023.
Value-Based Care
“PitchBook Analyst Note: The Value-Based Care Enabler Landscape: 2024 Update,” PitchBook.com, March 14, 2024.
“Enablement Companies Are Key to the Future of Value-Based Care,” by Rebecca Springer, PitchBook.com, March 16, 2024.
“Our Value-Based Care Crystal Ball,” by Rebecca Springer, PitchBook.com, July 22, 2023.
Healthcare Market Underperformance
“Healthcare Service Report,” PitchBook.com, May 7, 2024.
“Healthcare Is a Frontier Not Even Walmart Could Conquer—And It’s Not Looking Great for Others Either,” by Katie Adams, medcitynews.com, May 1, 2024.
Other
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