The biotech industry plays a vital role in driving healthcare forward by developing groundbreaking therapies and technologies that cater to unmet medical needs. Biotech companies are at the forefront of developing cutting-edge technologies, advanced therapies, and novel drug candidates.
Investing in the biotech sector allows investors to potentially benefit from commercializing groundbreaking treatments. Therefore, it could be wise to scoop up the shares of fundamentally sound biotech stocks BioMarin Pharmaceutical Inc. (BMRN – Get Rating), Exelixis, Inc. (EXEL – Get Rating), and Theratechnologies Inc. (THTX – Get Rating), trading at discounts compared to their peers.
But before delving into the specifics of the featured stocks, let’s take a closer look at the biotech industry as a whole.
The global biotechnology market is expected to reach new heights, driven by factors such as the emergence of advanced and innovative technologies, substantial investments, government initiatives supporting the industry, and the rising toll of chronic diseases.
On top of it, the growing usage of personalized medicines could be a driver of the biotech market’s growth. The personalized medicines market is expected to reach over $5.7 trillion by 2030, poised to grow at a notable CAGR of 11.6%.
Although the biotech sector may face short-term fluctuations such as layoffs, its long-term outlook remains optimistic. This is primarily due to…
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