Subscribe via RSS Feed Connect on Google Plus Connect on Flickr

Sell oil, buy drugs

Thursday, 13 August, 2015

“The Board believes that the healthcare industry, particularly the biopharma sector, is experiencing strong momentum and there exist significant M&A and value creation opportunities for both small cap and large cap companies.” We all know that the healthcare industry and the biopharma sector are experiencing growth and that both are set for more, so that remark would be unremarkable were it not for who is issuing it. Namely, an oil exploration company. Fastnet Oil & Gas PLC is listed on the Dublin and London alternative investment markets and on Tuesday it informed shareholders of the following change of policy:

“In light of the current economic climate within the oil and gas sector, the Board has determined that it is not in the best interests of Shareholders to either pursue M&A opportunities in that sector or to expend further resources on the Company’s existing oil and gas assets.”

On the same day that Fastnet signaled its retreat from the coasts of Ireland and Morocco, the socialist paradise of Venezuela, which gets more than 95 percent of its export revenue from oil, was hit with more bad news: its huge gold reserves are losing their value, fast. Meanwhile, biopharma deals are booming and there’s no end in sight.

Moral of story: Sell oil, buy drugs.


Filed in: Business, Health • Tags: , , ,

Comments are closed.