Geoffrey C. Hsu, partner of OrbiMed and manager of the BiotechGrowth trust, assesses the key drivers for the sector in 2016 and beyond.
Biotech stocks have faced further downward pressure over recent weeks, with questions raised over lofty valuations and political criticism over excessive drug prices. This has come into focus recently with the announcement by Martin Shkreli, CEO of Turing Pharmaceuticals, who raised the price of a 62-year-old medication used by Aids patients by over 5,000%. This prompted an intervention by Hillary Clinton, the Democratic presidential frontrunner, who said she would drive down drug prices if elected - a pledge that wiped roughly $55bn off the value of US biotech stocks the week of the ...
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