Buying the biotech boostPeter Garnry
Leading Bio tech firms, have seen around thirty percent growth in the last year and prospects continue to look good, according to Saxo Bank’s Head of Equity Research, Peter Garnry.
We’re talking about a futuristic industry, at the leading edge of research, one firm to watch is BioGen Idec Inc (BIIB:xnas), a global biotech company, which has seen around 35 percent growth in its share price over the last year. Shares are now trading around the $290.00 mark, Biogen is well known for developing Multiple Sclerosis therapies, as well as researching drugs for other auto-immune conditions.
The biotech sector has tremendous potential, according to Peter, because as the world’s population grows, so will successful companies exploring the future of drug development.