** The healthcare sector set to lose its lustre as M&Apremium disappears and rich valuations diminish its attractionas a relatively less-risky sector.
** Among the best performers YTD across Europe, upalmost 11 pct vs 3 pct drop on broad STOXX Europe 600.
** But valuations now pricey. Chart: http://link.reuters.com/syz23w
** Sector has become more volatile, beta higher thanEuropean banks: Chart: http://link.reuters.com/hyz23w
** Recent AbbVie u-turn on planned Shire inversion deal sent Shire stock plummeting to levels seen whennews of bid first broke in June.
** AstraZeneca, which had rebuffed a $118 blntakeover bid from U.S. drugmaker Pfizer, down 16 pctfrom May peak. (RM: tricia.wright1.thomsonreuters.com@reuters.net,vikram.subhedar.thomsonreuters.com@reuters.net)