Biotech sector valuations cheaper than decade ago

The fundamentals behind biotechnology companies are the strongest for the last 10 years, however the sector is also the cheapest it has been during that period. Joe Anderson, head of global health and biotechnology at First State Investments, says that it takes about 10 years for biotech companies to develop drugs and a year to seek approval. He says that at present several companies have now been around for five to 10 years and a lot of drugs are therefore coming up for approval. As a result, he says the fundamentals are positive for the sector and the better companies also have s...