The biotech industry is playing a crucial role in fighting against COVID-19 and is also making considerable progress in finding cures for several other diseases with the help of advanced technologies. With continuing innovation and strong financials, we think biotech concerns Takeda Pharmaceutical (TAK), Exelixis (NASDAQ:EXEL), and Vanda Pharmaceuticals (NASDAQ:VNDA) are well-positioned to continue benefiting from the industry’s solid growth prospects. So read on for details.The biotech industry has generated steady growth amid the COVID-19 pandemic thanks to its effectiveness in the world’s fight against the pandemic through vaccines and other therapies. Furthermore, the rapid spread of the highly contagious COVID-19 Delta variant could attract further investor interest in the industry.
In addition to the need to fight the COVID-19 virus more effectively, biotech companies’ increased focus on finding cures for other rare diseases should help the industry grow. According to a report by Vision Research Reports, the global biotechnology market is expected to grow at a 16.83% CAGR between 2021 - 2030.
With most biotech stocks being high-risk/high-reward investment propositions, we think it is wise to bet on quality biotech stocks Takeda Pharmaceutical Company Limited (NYSE:TAK), Exelixis, Inc. (EXEL), and Vanda Pharmaceuticals Inc. (VNDA). They have overall A (Strong Buy) ratings in our proprietary POWR Ratings system, along with A grades for Value, among other categories. So, if one is open to investing $2,000 in some no-brainer stocks, we believe these three stocks are ideal choices now.