Drugmakers set to deliver sweet pill

Drugmakers should deliver a solid set of quarterly results but investors will be watching for any signs of recession choking demand for more expensive treatments.

Healthcare is traditionally one of the last areas where consumers cut spending and the sector is faring far better than many downturn-hit industries, despite the long-term problems of multiple patent expiries and excess capacity.

"We're going to see some pretty good results that will reaffirm the defensive nature of this industry," said Morningstar analyst Damien Conover.