The biotechnology sector has rallied over the course of 2003 following several successful drugs tria...
The biotechnology sector has rallied over the course of 2003 following several successful drugs trials but large cap pharmaceuticals remain depressed. The S&P 500 Biotechnology Index posted growth of 30.9% between 31 December 2002 and 3 June 2003, in dollar terms, compared to a 10.13% return from the S&P 500 and a 2.7% return from the S&P 500 Pharmaceuticals Index. While biotech has strongly outperformed pharmaceuticals over the calendar year to date, opinions diverge as to where the value lies looking forward. Marjan Daeipour, manager of the M&G Global Healthcare fund, says the biot...
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