Some pharma stocks likely to outperform in 2009: Barron's

NEW YORK (Reuters) - Baxter (BAX.N), C.R. Bard (BCR.N), Teva Pharmaceutical (TEVA.O) and Express Scripts (ESRX.O) are four health-care stocks likely to outperform in the coming year, even if the global economy remains depressed, according to a report in the November 24 edition of Barron's.

Even if the economy continues to spiral downward and health-care reforms pressure industries like managed care, the sector offers some defensive companies with solid growth prospects, the article said.

The current economic environment favors holding biotech, medical-equipment and life-sciences stocks because these companies provide consistent growth, and they have the products and the demographics behind them, Merrill Lynch sector strategist Brian Belski said in the report.

The article noted that health-care stocks are inexpensive relative to historical trends.

As of mid-November the group fetched a price/earnings multiple of 10.2 times forward earnings, versus a long-term average P/E of 19.3, according to Merrill's sector-strategy group.

A separate article in the weekly financial publication also said that shares of Medco Health Solutions (MHS.N) were likely to benefit from tough economic conditions, as U.S. corporations use more of the pharmacy benefits manager's services to help lower their spiraling health-care costs.

(Reporting by Euan Rocha, editing by Maureen Bavdek)