Biotech sector setto outperform

Concerns about the uncertainties of the war with Iraq, rising political tension with North Korea and continuing economic uncertainty have caused investors to overlook the positive developments in the biotechnology sector. Since the sector bottomed in July 2002, biotechnology stocks have generally gone up reflecting more positive fundamentals for the sector. First and foremost, the excesses of the genomics bubble have washed away and valuations are in line with historical norms. Secondly, the Senate confirmed Dr Mark McClellan as the next FDA commissioner. Already, we have seen a...