Polar Capital's David Pinniger has said there will be a "second stage" of biotech companies coming onto the market, providing the sector with the potential for further robust returns as it approaches the halfway point of a decade-long cycle.
Pinniger, who runs the $427m Polar Capital Biotechnology fund, said people questioned whether biotech had further to run when the fund was launched on 31 October 2013 as the NASDAQ Biotechnology index...
The US dollar is close to peaking and the risks now seem to be on the downside.
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