The biotech industry has diversified and thrived, especially during the pandemic, owing to the advanced innovations and incessant efforts to curb the deadly virus. Moreover, the inelastic demand enjoyed by the industry makes it well-grounded to maintain its buoyancy in the upcoming times.
Against this backdrop, let us explore some biotech stocks Amgen Inc. (AMGN – Get Rating), Regeneron Pharmaceuticals, Inc. (REGN – Get Rating), United Therapeutics Corporation (UTHR – Get Rating), and Vanda Pharmaceuticals Inc. (VNDA – Get Rating), with overall A (Strong Buy) ratings in our proprietary POWR Ratings system.
The biotech industry has immense potential to generate tremendous opportunities for society, such as improving healthcare quality, increasing agricultural production, and producing a cleaner environment. The industry provided 2.1 million jobs and had a $2.9 trillion impact on the U.S. economy in 2021.
Even though macroeconomic challenges prevail, incredible scientific, medical, and technological breakthroughs are poised to keep the biotech industry on an upward trajectory, especially since biotechnology has numerous applications.
Also, on the backs of strong government initiatives aimed at the modernization of regulatory framework, bolstering of supply chains, and supporting the innovation ecosystem, the global biotechnology market size is poised to grow at a CAGR of 14% from 2023 to 2030.
Furthermore, over the past six months, the SPDR S&P Biotech ETF (XBI) has gained 8%, outpacing the S&P 500’s gains of 4.7%, substantiating investors’ interest in biotech stocks.
Hence, investors could capitalize on…
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