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Cowen CEO: 'You Can't Just Own Healthcare Broadly And Say It's Going To Work Out'

Cowen CEO: 'You Can't Just Own Healthcare Broadly And Say It's Going To Work Out'
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Jeffrey M. Solomon, president at Cowen Group Inc (NASDAQ: COWN) and CEO of Cowen and Company, was on Wall Street Week this Sunday to talk about the outlook of the biotech space overall. Here is what he had to say.

Biotech, Reindustrialization Of America

On whether he still sees healthcare and biotech as an emerging growth opportunity, Solomon said, "Certainly, two themes we play pretty consistently is growth and healthcare; biotech is a big part of that. We actually think that there have been a number of companies that have come public, raised a lot of capital. There's really tremendous growth in that area still as we get into personalized medicine, and the consumerization of healthcare is a big theme for us at Cowen."

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He continued, "We also happen to think that the reindustrialization of America is a big theme, and so we are focusing on areas that will benefit from the capital flows in the United States and consistent long-term growth over the next decade."

Government's Focus Hasn't Had Much Impact

Solomon was asked if the government's increasing focus on healthcare has had any impact on the capital flows in the space. He replied, "It hasn't really. So, I think if you take a 20-year view, the consumerization of healthcare is something that started way before Obamacare.

"There will be winners and losers, and honestly there will definitely be losers and there will definitely be winners, which is kind of what we focus on. You can't just own healthcare broadly and say it's going to work out."

Image Credit: Public Domain

Posted-In: Affordable Care Act Cowen and Company Jeffrey M. Solomon obamacareAnalyst Color Biotech Health Care Media Best of Benzinga


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