Biotech stocks have nearly doubled the returns of the S&P 500 this year, surging to the highest level in 14 months before giving up some gains. The Nasdaq Biotech Index regained momentum in the first quarter after the heated political debate on drug pricing in 2016 contributed to its first annual decline in eight years. As Republicans move on after failing to repeal and replace Obamacare, investors doubt drug pricing will be among President Trump’s top priorities, analysts say. The sector’s strong start this year could entice more IPOs, luring a broader investor audience.,
Bloomberg
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