The biotech company Amgen develops therapies against cancer. In late August, Amgen’s stock rose 7 percent after it acquired another biotech company.
(Photo: obs)
Cologne The biotech industry delivers positive headlines for investors. Manufacturers have some promising product developments in the pipeline. In addition, large takeovers are taking place within the industry and by pharmaceutical companies, which have a positive impact on prices.
The innovative power of biotech is becoming more and more relevant in order to meet the challenges of modern medicine, says Martin Pfeilschifter from Deka Investment’s Pharma-Biotech equities team. “Even in an environment of rising interest rates and the associated valuation pressure, biotech stocks remain extremely interesting.”
Recently, large companies have been able to increase their own share values after company acquisitions. This shows how positively the market is accepting the products. At the end of September, the large US pharmaceutical and biotech group Gilead Sciences took over the start-up Mirobio. Gilead paid $405 million in cash for the previously private British company, which was spun off from Oxford University in 2019.
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