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Major headwinds caused by various factors such as the talk of the US federal government imposing drug price controls and the general impression that the bull market is on its last leg weighed on investor sentiment in the healthcare sector during the second quarter. BB Biotech shares were not completely immune to these developments and delivered a return of 1.2% in EUR for the second quarter and 8.2% for the first half of 2018.
Big players in the healthcare sector are desperate to differentiate their approved ‘checkpoint inhibitors’ (a drug that unleashes an immune system attack on cancer cells) by combining their use with conventional chemotherapy or other new drugs. Biotechnology firms are developing many of these next-generation combination agents as well as continuing to strengthen their positions in treatments for more niche medical problems. This makes for an interesting area for investors.
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