From Deep Losses to Remarkable Gains: Biopharma’s Wildest Year in Recent Memory

A spring pivot in sentiment turned one of the sector’s toughest stretches into a breakout year for the specialist funds.

Stephen Taub January 14, 2026

Few corners of the market saw the kind of whiplash biopharma investors felt in 2025. What began as another dispiriting year of losses flipped in April, unleashing a rally so strong that leading funds finished with some of their best annual returns.Perceptive Advisors led the

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