10 Things You Need to Know:
- Biotech stocks continue to prosper long-term despite periodic fluctuations.
- In 2020, prominent biotech companies Pfizer and its partner BioNTech, Moderna, and Johnson & Johnson took the lead in launching COVID-19 vaccines.
- Investor’s Business Daily’s biotech industry group currently ranks among the top 1% of all industry groups in increments of 12-month performance.
- Companies are combating potential changes to Medicare’s drug pricing system.
- Amphastar Pharmaceuticals, currently holding the top spot, specializes in injectable drugs and has seen significant financial growth.
- Expectations for Amphastar’s buyout by Amgen are dulled by Federal Trade Commission concerns around a potential monopoly for two essential drugs.
- Acadia Pharmaceuticals has made strides with FDA approval for a Rett syndrome treatment and drugs aimed at hallucinations and delusions associated with Parkinson’s disease.
- Enliven Therapeutics, on the rise since its public debut in 2020, focuses on treatments for various forms of cancer.
- Halozyme Therapeutics has a strong standing in drug delivery technology and has reported above-expected sales.
- While the Biotech industry has strong performance overall, it’s important to keep an eye on a company’s individual performance and financial metrics.
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[Source: Investors Business Daily, August 11th, 2023]