Insights, Innovation and Impact
This timely update provides insights into health care sector stock performance and social impact themes related to U.N. Sustainable Development Goal 3 (Good Health and Well-Being).
Stocks finished at record highs in June to conclude a strong quarter and first half of the year. From a global perspective, growth is rebounding sharply, depending on countries’ vaccination rates. Monetary and fiscal stimulus are aiding the recovery, which the World Bank describes as the strongest post-recession rebound in 80 years. Nevertheless, global economic output remains well below pre-pandemic levels. It’s a similar story in the U.S., where the economy added 850,000 new jobs in June and the unemployment rate fell below 6%.
The U.S. Food and Drug Administration (FDA) has approved the first-ever drug targeting the amyloid beta proteins, or plaque, believed to cause Alzheimer’s disease.
Biogen and Eisai filed for approval of the drug in Japan in December 2020, with a decision from regulators expected in 2022 or 2023. Similar applications have been filed with the European Medicines Agency, with a decision expected as soon as the end of 2021. Regulatory reviews are also underway in Australia, Brazil and Canada.
Biogen is an innovative, research-driven biotechnology company that whose diversified product portfolio focuses on neurology. The commercial success of its multiple sclerosis treatments has enabled the company to invest heavily in researching potential treatments for Alzheimer’s and other debilitating diseases like stroke and Parkinson’s.
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The opinions expressed are those of American Century Investments (or the portfolio manager) and are no guarantee of the future performance of any American Century Investments' portfolio. This material has been prepared for educational purposes only. It is not intended to provide, and should not be relied upon for, investment, accounting, legal or tax advice.
References to specific securities are for illustrative purposes only, and are not intended as recommendations to purchase or sell securities. Opinions and estimates offered constitute our judgment and, along with other portfolio data, are subject to change without notice.