Healthcare Sector Survives Europe's Slide

With Greece’s snap elections coming up at the end of January, many are beginning to worry that the small nation is headed for a messy exit from the euro. The party currently leading the country’s polls has vowed to abandon the nation’s bailout program early, something German lawmakers have said would all but force the nation to exit the common currency entirely.

European Stocks Slip

The political uncertainty coupled with falling oil prices and worries about eurozone inflation have pulled stocks lower this week as investors sell and move to safer assets. However, healthcare stocks have been resilient through the turmoil as pharmaceutical companies continue to work towards an Ebola vaccine.

Related Link: Healthcare And Biotech Sector Looking Sick

Ebola Vaccine As European Market Saving Grace?

Johnson & Johnson JNJ began human clinical trials for a new Ebola vaccine on January 6 by administering the first dose to volunteers. Oxford Vaccine Group is overseeing the trials, which include boosters from Denmark-based biotech company Bavarian Nordic BVNRY, whose shares rose 3.4 percent once the trials began.

Johnson & Johnson has pledged to spend up to $200 million pushing the project forward, saying that getting the vaccine out to nations in need is a No. 1 priority. Together with Bavarian Nordic and Janssen Pharmaceuticals, Inc., Johnson & Johnson is planning to produce 2 million regimens throughout 2015.