Sun. Apr 5th, 2020

Biotech stocks win October, rallying 8%

1 min read
  • The Biotech ETF (IBB) is up 8% in October, while the S&P 500 is up about 2% in the same month.
  • Leading the way are large-cap biotechnology companies Amgen, Celgene and Biogen.
  • Biogen’s stock soars after the drugmaker announces it is seeking regulatory approval for an Alzheimer’s drug, aducanumab.

Biotechnology stocks are emerging as the standout performers in October.

The Biotech ETF (IBB) is up 8% in October, while the S&P 500 is up about 2% in the same month. The IBB is on pace for its best month since January, when it gained 13.75%.

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