Biotech enters new year with worst days behind - Mizuho

Autolus Therapeutics

15/12/2022 13:34

** Brokerage Mizuho says biotech sector’s worst days from
the recent two-year correction are now likely behind it
    ** Says historically, biotech has never seen three
consecutive negative years of returns
    ** Says the 2023-24 divided government is likely to be a
tailwind to biotech performance and lowers risk of any
additional major negative legislation getting passed 
    ** Mizuho says biotech IPOs may take some additional time to
return in earnest, with investors suggesting H2 2023 as a more
realistic window 
    ** Brokerage says Alzheimer’s and obesity are the hepatitis
C equivalent of 2023-30 “decade”, with over $10 billion market
opportunity and potential sales beyond 2030 
    ** Biotech co's like Merck  MRK.N , Biogen  BIIB.O ,
Alkermes  ALKS.O , Cytokinetics  CYTK.O  are among brokerage's
top picks for 2023
    ** As of last close,  .NBI  down ~8% YTD 
 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))