Samuel Isaly, manager of the Worldwide Healthcare trust, explains how innovation and M&A activity are set to underpin multi-year growth in the biotech sector.
The biotechnology sector has enjoyed robust performance recently but valuations remain modest by historical standards as a multi-year bull market gets underway. Growth in the biotech sector is underpinned by M&A activity and innovation, which is occurring at a record pace with a host of new drugs to treat medical conditions ranging from cancer to obesity. The emerging biotechnology space typically outperforms its large pharma peer group, but it is also a riskier investment, as these companies have yet to reach profitability and their flagship products are dependent on successful clinica...
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