In addition, there are 66 US Big Health Care Corps in other Health Care Sectors, which filed with the SEC, and which generated Pretax Income or Loss of more than $100 mil in any of the most recent three years.
These 66 US Health Care Corps generated Total Pretax Income in 2011 of $56.5 bil, up only 5% from 2010. And this earnings growth was only half of the 10% earnings growth in 2010 over 2009.
When you review the list of these 66 Health Care Corps, you have to be impressed with the whole-scale exceptionally high quality.
There is something seriously wrong with the US economy when the Total Pretax Income growth in the most recent two years of the 80 largest US Big Oil Corps of 112% just crushes the 15% earnings growth of these fine 66 US Health Care Corps. And by far the main driver of this 112% earnings growth of these US Big Oil Corps was simply substantially higher oil prices in the market, unfortunately driven in part by oil speculation.
This modest earnings growth in 2011 was driven by most of the largest health care corps, as you can see in the below chart of earnings.
In deriving Pretax Income, I start with Pretax Income under Generally Accepted Accounting Principles (GAAP), and then exclude several clearly unusual very large items relative to Pretax Income, such as Special Legal Charges and Credits, Asset Impairments, Gains/Losses on Debt Retirements, and Gains/Losses on Asset Sales.
Just like the Health Insurance Corps, the Drug Corps, and the Hospitals and Healthcare Service Corps, these other Health Care Corps in Other Health Care sectors below will also be receiving huge economic benefits down the road in 2014 when the Affordable Healthcare Act totally kicks in, and their number of patients/customers served increase substantially.
Below here is the Pretax Income (PTI) of these 66 US Big Health Care Corps in Other Health Care sectors for each of the most recent three years.
| PTI | PTI | ||||
| % | % | ||||
| Change | Change | ||||
| PTI | PTI | PTI | 2011 | 2010 | |
| 2011 | 2010 | 2009 | vs | vs | |
| mils $s | mils $s | mils $s | 2010 | 2009 | |
| Other Health Care | |||||
| Retail Drug and Proprietary Stores | |||||
| CVS Caremark | 5,746 | 5,601 | 5,900 | 3% | -5% |
| Walgreens | 3,860 | 3,373 | 3,164 | 14% | 7% |
| MedcoHealthSolutions | 2,376 | 2,334 | 2,103 | 2% | 11% |
| Express Scripts | 2,024 | 1,909 | 1,308 | 6% | 46% |
| Omnicare | 273 | 34 | 332 | 703% | -90% |
| Rite Aid | (546) | (480) | (773) | -14% | 38% |
| Biological Products | |||||
| Amgen | 4,936 | 5,317 | 5,204 | -7% | 2% |
| Gilead Sciences | 3,651 | 3,914 | 3,502 | -7% | 12% |
| Biogen IDEC | 1,711 | 1,475 | 1,333 | 16% | 11% |
| Life Technologies | 479 | 442 | 195 | 8% | 127% |
| Techne | 307 | 261 | 280 | 18% | -7% |
| Myriad Genetics | 180 | 37 | (64) | 386% | 158% |
| PDL Biopharma | 165 | 156 | 155 | 6% | 1% |
| Momenta Pharm | 160 | 141 | 136 | 13% | 4% |
| Surgical&Medical Instruments | |||||
| Baxter | 2,809 | 2,590 | 2,734 | 8% | -5% |
| Stryker | 2,216 | 1,926 | 1,807 | 15% | 7% |
| Becton Dickinson | 1,716 | 1,661 | 1,579 | 3% | 5% |
| CR Bard | 1,686 | 1,729 | 1,624 | -2% | 6% |
| Boston Scientifc | 758 | 718 | 672 | 6% | 7% |
| Covidien Ltd | 630 | 465 | 714 | 35% | -35% |
| CareFusion | 415 | 341 | 338 | 22% | 1% |
| ResMed | 304 | 261 | 202 | 16% | 29% |
| Hill-Rom Holdings | 207 | 162 | 94 | 28% | 72% |
| Teleflex | 164 | 155 | 164 | 6% | -5% |
| Haemonetics | 145 | 147 | 140 | -1% | 5% |
| Gen Probe | 110 | 97 | 85 | 13% | 14% |
| ElectroMedical Apparatus | |||||
| Medtronic | 3,723 | 3,969 | 3,061 | -6% | 30% |
| St Jude Medical | 1,019 | 1,209 | 1,057 | -16% | 14% |
| Varian Med Sys | 589 | 533 | 475 | 11% | 12% |
| Hologic | 172 | 165 | 190 | 4% | -13% |
| Thoratec | 112 | 93 | 43 | 20% | 116% |
| Drug Wholesalers | |||||
| McKesson | 1,848 | 1,864 | 1,557 | -1% | 20% |
| Cardinal Health | 1,518 | 1,212 | 1,160 | 25% | 4% |
| AmerSourceBergen | 1,131 | 1,028 | 824 | 10% | 25% |
| Herbalife Ltd | 560 | 380 | 291 | 47% | 31% |
| Nu Skin Enterprises | 227 | 208 | 141 | 9% | 48% |
| Orthopedic Prosthetic Appliances | |||||
| Zimmer Holdings | 1,141 | 1,154 | 1,099 | -1% | 5% |
| Intuitive Surgical | 710 | 572 | 396 | 24% | 44% |
| EdwardsLifeSciences | 284 | 268 | 217 | 6% | 24% |
| Biomet | 204 | 192 | 166 | 6% | 16% |
| Steris | 105 | 57 | 65 | 84% | -12% |
| MineSafetyApplcs | 90 | 102 | 36 | -12% | 183% |
| Align Technology | (124) | (142) | (369) | 13% | 62% |
| Medical Research | |||||
| Quest Diagnostics | 1,092 | 1,184 | 1,228 | -8% | -4% |
| LabCorpAmerica | 866 | 916 | 885 | -5% | 4% |
| Covance | 177 | 163 | 228 | 9% | -29% |
| CharlesRiverLabs | 133 | 92 | 152 | 45% | -39% |
| Exelixis | 77 | (92) | (141) | 184% | 35% |
| Lab Analytical Instruments | |||||
| Waters Corp | 509 | 438 | 387 | 16% | 13% |
| FEI Co | 349 | 308 | 225 | 13% | 37% |
| Bruker | 236 | 220 | 186 | 7% | 18% |
| PerkinElmer | 213 | 176 | 125 | 21% | 41% |
| Bio Rad Labs | 146 | 150 | 129 | -3% | 16% |
| Mettler Toledo | 124 | 58 | 17 | 114% | 241% |
| Illumina | 123 | 52 | 28 | 137% | 86% |
| Coherent | 64 | 166 | 100 | -61% | 66% |
| Misc Medical Equip&Supplies | |||||
| Henry Schein | 569 | 502 | 453 | 13% | 11% |
| Dentsply | 356 | 339 | 320 | 5% | 6% |
| Patterson | 256 | 358 | 363 | -28% | -1% |
| Owens & Minor | 209 | 124 | 115 | 69% | 8% |
| PSS World Medical | 190 | 182 | 188 | 4% | -3% |
| II-VI Inc | 119 | 110 | 84 | 8% | 31% |
| Cooper Cos | 102 | 51 | 46 | 100% | 11% |
| Misc Health Care | |||||
| Weight Watchers | 483 | 313 | 290 | 54% | 8% |
| Idexx Lab | 234 | 202 | 175 | 16% | 15% |
| AllscriptsHCSols | 117 | 104 | 44 | 13% | 136% |
| Total all 66 | 56,535 | 53,746 | 48,964 | 5% | 10% |
