Matt Kamm, managing director of Artisan Partners, explains why biotech stocks are still early in a pharmaceutical renaissance that can create opportunities for the longer term
Earlier in 2014, a sharp sentiment swing pressured biotech stocks in particular. Since then, the category has bounced back as a number of positive developments have reinforced investor confidence. Among them was Regeneron Pharmaceuticals' recent approval in the US and EU for a second indication of its macular degeneration drug Eylea -already one of history's strongest new drug launches. Further, the firm announced positive late-stage trial results for its novel cholesterol-lowering drug and strong mid-stage results for its medicine for allergic conditions such as atopic dermatitis. Inves...
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