Earnings season is in full swing, and on April 29, three Big Pharma mainstays reported Q1 2026 earnings. Investors were looking for strong results—and strong guidance—that could serve as a sorely needed tailwind for the healthcare sector.
So far in 2026, that corner of the market has been the S&P 500’s worst-performer among its 11 sectors. The defensive stocks that call healthcare home have been largely left out of this year’s market rotation, and that has resulted in a year-to-date (YTD) loss of nearly 8%.
