Investors turn to biotech as vaccine roll-out cools sentiment on big pharma

Other sectors set to benefit as lockdown eases

Any halo earned from helping tackle the Covid-19 pandemic is likely to be short-lived for big pharma, according to asset managers who are turning their sights towards biotech and telehealth as the world slowly returns to normal.

On 8 December 2020, England became the first country to roll out a Covid-19 vaccine, a jab developed by Pfizer and BioNTech. In the months leading up to that, the healthcare sector took a leading role...