(C) Reuters. 4 Biotech Stocks to Add to Your Watchlist This Summer
The rising demand for COVID-19 vaccines worldwide has been pushing biotech companies with successful vaccine candidates to increase their production capacities. Also, rising demand for COVID-19 treatments and an increasing focus on other critical alignments are driving the biotech industry’s growth. Given this backdrop, we think Moderna (NASDAQ:MRNA), Illumina (NASDAQ:ILMN), Regeneron Pharmaceuticals (NASDAQ:REGN), and BioNTech (BNTX) should witness significant growth in the coming months.The biotech industry has been caught squarely in the limelight since the onset of the COVID-19 pandemic last year, as companies worldwide have raced to develop a vaccine. While several vaccines have been launched in the international markets since last year, an acute global vaccine shortage is the biggest concern now. Consequently, popular biotech companies with highly effective vaccines have been trying to expand their production capacities to meet the demand. Furthermore, the demand for drugs used in the treatment of this infection has also risen over time as several countries have witnessed the changing nature of the disease and its side effects.
In the United States, nearly 164 million people, or 49.5% of the population, have been fully vaccinated, according to the CDC. The Biden administration’s $10 million investment to expand access to the COVID-19 vaccines in the hardest hit communities in March has been a major driver in the country’s fast-paced vaccination program. Nevertheless, with some 50% of the population yet to be fully vaccinated, biotech companies with a vaccine candidate are expected to generate substantial revenues in the coming months. In addition, many companies have made major breakthroughs in the treatment of life-threatening ailments, thanks to the advancements in the field of biotechnology. And the industry’s focus on critical ailments is increasing.
Given this backdrop, we think biotech companies Moderna, Inc. (MRNA), Illumina, Inc (ILMN), Regeneron Pharmaceuticals, Inc. (REGN), and BioNTech SE (NASDAQ:BNTX) should grow significantly in the coming months.
4 Biotech Stocks to Add to Your Watchlist This Summer
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