Biotechs outperforming larger pharmaceuticals

Over the past quarter, biotech stocks have rallied, outperforming the US market by 22%. This compares well to larger US pharmaceuticals, which have underperformed by around 5%, according to Keith Burdon, investment manager, UK, at Britannic Asset Management. Burdon says the rally in US biotech stocks is partly due to the technology rebound in the country and partly due to stock-specific factors. Antony Milford, fund manager of the Framlington Health fund, says biotech stocks have rallied from a very depressed situation between February and March this year. He argues that, while ...