The healthcare sector has stood out as one of the top-performing stock segments, due to its array of innovative products. Healthcare stocks include companies dedicated to pharmaceuticals, biotechnology, medical devices, healthcare services, and much more.
Let’s take a look over some of the Healthcare stocks worth keeping an eye on:
BridgeBio Pharma Inc. (BBIO)
BridgeBio Pharma Inc. is a biotechnology company that designs transformative medicines to address the needs of patients with genetic diseases and cancers characterized by identifiable genetic drivers.
In July 2023, the company’s experimental drug called acoramidis, used for rare heart disease showed a significant improvement in patients in a late-stage study, causing the stock price to surge by 76.30%.
Acoramidis is anticipated to compete with drugs from other pharmaceutical companies which are under regulatory review and already approved. This expectation rises due to the fact that during clinical trials, it outperformed other medications.
EISAI Company (4523)
Eisai is a Japanese pharmaceutical company that is expanding its main focus on prescription medicine. This expansion does not just contribute to people in the medical domain but also to people in the daily living domain.
Recently, the Food and Drug Administration (FDA) officially granted approval for Leqembi, a pharmaceutical drug developed by Eisai. The drug is used for Alzheimer’s patients and has the ability to slow down the progression of the disease. Leqembi is now being marketed in the U.S. through a partnership with Biogen Inc.
The approval for Leqembi represents a breakthrough not just for Eisai and Biogen but also gives companies and investors confidence to invest more in innovative Alzheimer’s therapies.
Eli Lilly and Company (LLY)
Eli Lilly (LLY), is an American pharmaceutical company dedicated to discovering, developing, and marketing human healthcare products to enhance and improve the well-being of people globally.
A recent experimental drug, Donanemab, developed by Eli Lilly, has shown promising results in reducing the progression of the most common form of dementia by targeting amyloid plaque in the brain. The company expects the Food and Drug Administration (FDA) to decide by the end of this year whether to approve the drug.
Dr. Susan Kohlhaas, Alzheimer’s Research in the UK, commented on Lily’s data release: Removing amyloid from the brain can change Alzheimer’s course, helping if treated at the right time.
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