With one month of trading remaining in 2013, the biotech sector is on pace for historic gains.
By historic, I mean biotech and drug stocks haven't delivered returns this robust -- on an absolute and relative basis -- since 1999.
Here's where we stand today:
The 63% absolute return and the 37% return relative to the S&P 500 through the first 11 months of 2013 represents the best year for the biotech sector since 1999, when the Nasdaq Biotechnology Index more than doubled.
Remember all that selling of biotech stocks in October? It was the weakest month for the sector in 2013, but buying returned in November (more like the last two weeks of November, to be precise.)
Here's where the IBB stands relative to the S&P 500 for the fourth quarter. The performance gap is almost closed.
Lastly (in case you were wondering) the best-performing stocks in November:
-- Reported by Adam Feuerstein in Boston.
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