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Moreover, regulatory approvals from FDA and EUA and growing investment and policy support from governments worldwide forecast a bright outlook for the biotech industry in the long run. Investor optimism in this space is evident from the First Trust NYSE Arca Biotechnology Index ETF’s (FBT) 2.9% gains over the past month versus the SPDR S&P 500 Trust ETF’s (SPY) negative returns. The global biotechnology market is expected to grow at 7.7% CAGR and reach $741.7 billion by 2026.
It might be wise to bet on fundamentally sound and undervalued biotech stocks Regeneron Pharmaceuticals, Inc. (REGN), Biogen Inc. (NASDAQ:BIIB), United Therapeutics Corporation (UTHR), and Exelixis, Inc. (EXEL) now. The growing investments, advanced R&D, and impressive breakthroughs in the industry should enable these companies to profit substantially next year.
