Woodford adds to healthcare stocks on market weakness

Fund outperforms index over month

Neil Woodford has added to a number of healthcare and biotech stocks in October in his £7.7bn Woodford Equity Income fund, despite continued weak performance from several stocks in the sector.

Healthcare stocks in the US have been suffering losses, following comments by Hilary Clinton about drug pricing, but Woodford (pictured) has continued to fervently defend the sector. Nonetheless, healthcare stocks have continued to struggle, with one of Woodford's holdings, BTG, being one of the main detractors from performance for the fund. Woodford defends healthcare amid ‘perverse' energy rally "BTG's half year results disappointed the market, primarily due to the slow adoption of Varithena, its treatment for varicose veins," the firm explained in its latest fund update. "This...