Virtus LifeSci Biotech Clinical Trls ETF (BBC)
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This year hasn't been kind to biotechnology stocks and related exchange traded funds. The headwinds faced by these assets were ratcheted up last week when the Biden administration revealed plans to pursue lower drug prices.
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The FDA granted full approval of a COVID-19 vaccine made by Pfizer (PFE) and BioNTech that could accelerate inoculations in the United States.
Biotechs are ready to march forcefully higher after a lengthy consolidation. Approval of Biogen's Alzheimer's treatment creates a bonanza for neurodegenerative-focused companies and the overall biotech sector.
The approval for Biogen's Alzheimer's disease treatment has spread strong optimism, with many investors pulling in capital to this high growth and high beta sector.
Just over one year after COVID-19 disrupted our lives, we are now getting to the point where multiple vaccine options are nearly ubiquitous for those in the United States. Per the CDC, as of April 12, 36% of the entire US population has received at least one vaccine, and 79% of those aged 65 years and older.
In our opinion, telehealth will remain the leading segment of the internet healthcare market as the market shifts away from in-person medical visits. According to Apple CEO Tim Cook, “I believe, if you zoom out into the future, and you look back, and you ask the question, ‘What was Apple's great contribution to mankind?' it will be about health.”.
These funds could be the best ways for investors to tap the opportunity arising from the Bristol Myers-MyoKardia deal and will likely see smooth trading in the months to come.
The healthcare sector defied last week's market rout buoyed by the progress in the development of a coronavirus vaccine or treatment, and merger and acquisition news.
Exchange-traded funds with exposure to biotech stocks rocketed higher Tuesday on hopeful news about treatments for COVID-19.