Is a Pharmaceutical Company the Same as a Biotech?

"Pharmaceutical company" and "biotech" are terms that investors hear all the time -- but what's the difference? Are they essentially the same thing, or are they two entirely different types of drugmakers?

The answer is more confusing that you may think. In the following video, health care analyst Max Macaluso explains the classic definitions of "pharmaceuticals" and "biotech," and discusses why it's difficult to distinguish the two today.

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