Biotech stocks bounce as healthcare sector suffers

It has been a volatile ride for the global healthcare sector over the medium term with some managers seeking opportunities in biotechnology and smaller pharmaceuticals. Antony Milford, manager of the £465m Framlington Health Fund, unlike many managers of big health care funds, has maintained very low exposure to large pharmaceutical stocks instead preferring biotechnology and mid to small cap stocks in the sector. That position has been held against a back-drop in which large pharmaceuticals have underperformed small caps and biotechnology companies. From January 29 1999 to 31 Dece...