There is an old saying that gets repeated like a broken old record that healthcare-related stocks are defensive in nature and are recession proof. This is mainly because of (i) the aging population which leads to more demand for medical services or medical drugs as well as (ii) inelastic demand as in if one falls sick, one will still need to visit a doctor for treatment regardless of whether the state of the economy is good or in the doldrums. I think that the above beliefs are mere fallacies.  I have always subscribed to the belief that what the eyes can see is real and what the ears can hear are illusionary. I think that the defensive nature for a lot of medical stocks in our healthcare industry is over-rated. Yes, true for some companies but not factual for a lot of others. Amgen, the drug making company for cancer,