CNBC's Jim Cramer on Thursday told investors why it's hard to be bullish about healthcare stocks, citing challenges stemming from government action and lack of innovation.
According to Cramer, the healthcare sector is "in the crosshairs" of the U.S. government because of the upcoming election.
Johnson & Johnson and Bristol Meyers are among several drug makers to file lawsuits against the government, broadly arguing that the pricing measures are unconstitutional.
The Federal Trade Commission is doing its best to block mergers in the sector, Cramer said.
Aside form drug makers, Cramer added that medical device companies haven't seen their business pick up since Covid, also hurting the sector overall.
Persons:
CNBC's Jim Cramer, Cramer, Johnson, Bristol Meyers, Eli Lilly
Organizations:
Biden Administration, Johnson, Federal Trade Commission
Locations:
Cigna