Fatigue appears to be slowing biotech’s incredible bull run
The marathon bull run for biotech’s elite companies has pushed into 2014 and, year to date, BioWorld’s Blue Chip Biotech Index, a price-weighted index that includes 19 of the top biotechnology companies as rated by market cap, is up 17 percent. The index has grown in value an incredible 105 percent since the beginning of 2013, considerably outpacing the general markets with the Dow Jones Industrial average (DJIA) recording a 25 percent increase and the Nasdaq Composite index a 43 percent jump in value in the same period. YTD, the DJIA index has dropped in value 1.5 percent and the Nasdaq Composite index has recorded a 3.5 percent increase.
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