Jim Chanos: Short Big Pharma

The world’s best-known short seller is targeting big pharmaceutical companies.

Speaking on a radio program, Jim Chanos said the bubble in healthcare spending is likely to pop.

“Healthcare is growing now at about 10 per cent per annum in the US top line, versus 3 per cent for the economy. As someone with a sharp pencil and an eye for this kind of thing, this can’t last,”
Chanos said, according to this report from Australia.

The founder and president of the hedge fund Kynikos, which is Greek for cynic, is said to have made $350 million in 2007. 

“The US healthcare system is probably the most interesting large group of companies that are heading for major problems that we’ve seen in a long, long time,” Chanos said.

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