IBB and rivals such as the SPDR S&P Biotech ETF (NYSEArca: XBI) and the First Trust NYSE Arca Biotechnology Index Fund (NYSEArca: FBT) are among the previously high-flying biotech ETFs that have been sapped by politicians, looking to earn voters favor in an election year, attacking high drug prices.
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“Catalysts remain significant for the biotech industry: The biotech industry obviously remains open to swings given the political landscape. That said, fundamental catalysts for new drugs are also beginning to favor biotech again with PCSK9 outcomes studies, new drug launches from Regeneron (REGN), Amgen (AMGN) and Biogen (BIIB) possible in 2017 and key PhIII readouts for Celgene (CELG) and Incyte (INCY) in 2017,” adds Morgan Stanely in the note posted by Barron’s.
For more information on the biotech sector, visit our biotechnology category.
iShares Nasdaq Biotechnology ETF
