Investors look for drug company replacements

Professional Adviser
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Medical devices as a sub-sector of the biotech industry have been performing well in recent months a...

Medical devices as a sub-sector of the biotech industry have been performing well in recent months as investors look for alternative areas to drug companies. Over the 12 months to 13 July, the S&P drugs index fell 11.51% in dollar terms, the S&P 500 fell 16.88%, whereas the S&P medical products index had dropped by 6.64%. Since May, the S&P medical products index posted a slight gain at 0.64% but this compares to the continued fall on the S&P drugs index of 11.49%. Antony Milford, fund manager of Framlington Health, says that he has done better in the device sector than any other part o...

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