Moving Beyond COVID In Biopharma
Summary
- Just over one year after COVID-19 disrupted our lives, we are now getting to the point where multiple vaccine options are nearly ubiquitous for those in the United States.
- Per the CDC, as of April 12, 36% of the entire US population has received at least one vaccine, and 79% of those aged 65 years and older.
- The biopharma industry has been materially underperforming this year as ramping regulatory concerns and disappointing results from a variety of pipeline candidates weigh on sentiment.
- We think the market overreacted to a few disappointing test results, and we see several innovative businesses whose R&D pipelines are being substantially undervalued.
Manning & Napier (NYSE: MN) provides a broad range of investment solutions through separately managed accounts, mutual funds, and collective investment trust funds, as well as a variety of consultative services that complement our investment process. Founded in 1970, we offer equity and fixed income portfolios as well as a range of blended asset portfolios, such as life cycle funds, that use a mix of stocks and bonds. We serve a diversified client base of high-net-worth individuals and institutions, including 401(k) plans, pension plans, Taft-Hartley plans, endowments and foundations. For many of these clients, our relationship goes beyond investment management and includes customized solutions that address key issues and solve client-specific problems.