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Updated from Friday, Oct. 10
Third-quarter results that will begin to roll in from biotech companies Tuesday have taken on new importance, as investors look to see if drug stocks will be a safe haven in the panic-stricken market.
Large-cap names are expected to perform at least in line with expectations, with some showing upside despite seasonality and pushback from a strengthening dollar.
According to the Credit Suisse biotech team, prescription data suggest that the large-cap biotech sector isn't due to repeat the strength seen in the second quarter, in part due to seasonality, raised expectations, and the foreign exchange rate. ...
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