This study investigates the impact of significant health events on pharmaceutical stock performance, employing a comprehensive analysis incorporating macroeconomic and market indicators. Using Ordinary Least Squares (OLS) regression, we evaluate the effects of thirteen major health events since 2000, including the Anthrax attacks, SARS outbreak, H1N1 pandemic, and COVID-19 pandemic, on the pharmaceutical sector. The analysis covers different phases of each event beginning, peak, and ending to capture their temporal influence on stock prices. Our findings reveal distinct patterns in stock performance, driven by market reactions to the initial news, peak impact, and eventual resolution of these crises. We also examine scenarios with and without key macroeconomic (MA) and market (MI) indicators to isolate their contributions. This detailed examination provides valuable insights for investors, policymakers, and stakeholders in understanding the interplay between major health events and health market dynamics, guiding better decision-making during future health related disruptions.

翻译：本研究通过整合宏观经济与市场指标的综合分析，探讨重大健康事件对医药股表现的影响。采用普通最小二乘法回归，我们评估了自2000年以来十三起重大健康事件——包括炭疽袭击、SARS疫情、H1N1大流行和COVID-19大流行——对医药行业的影响。分析涵盖各事件的起始、高峰和结束不同阶段，以捕捉其对股价的时序性影响。研究结果揭示了由市场对这些危机的初始新闻、峰值影响及最终解决阶段的反应所驱动的股票表现差异模式。我们还通过纳入与排除关键宏观经济指标及市场指标的情景对比，以辨析其各自贡献。这项细致研究为投资者、政策制定者和相关方理解重大健康事件与医疗市场动态之间的相互作用提供了重要见解，有助于在未来健康相关危机中做出更优决策。