Biotech stocks en­joy­ing best-ever start to the year

Mint ST - - MARK TO MARKET -

A string of up­beat news around this week’s Jpmor­gan Health­care Con­fer­ence has helped pro­pel biotech­nol­ogy stocks to their best-ever start to the year.

The Nas­daq Biotech­nol­ogy In­dex, a bell­wether of sen­ti­ment, has seen a 13% jump in 2019 after Bris­tol-my­ers Squibb Co. kicked off the year with a record take­out of Cel­gene Corp. The nine-day win­ning streak is the long­est in five years and the best start to a year since the in­dex was cre­ated in 1993. The broader S&P 500 is up 3.6% year-to-date, while the S&P 500 Health Care In­dex is up just 1.6%. BLOOMBERG

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