Biotechnology advancements have created new ways of treating and preventing major life-threatening diseases. With accelerating advancement and increased tech integration in healthcare, renowned companies BioMarin Pharmaceutical Inc. (BMRN), Incyte Corporation (INCY), and Innoviva, Inc. (INVA) are expected to grow significantly in the long run.
Biotech stocks have been declining lately, as the banking crisis, inflation, and the Fed’s interest rate hikes took the limelight. However, the sector continues to outperform the broader market, as evident from the SPDR S&P Biotech ETF’s (XBI) 25.5% returns over the past year.
