πͺπΈ Biotech Stocks Are Projected to Extend Rally Amid Innovation and M&A
Goldman Sachs Research says biotech stocks have outpaced tech over the past year β the Nasdaq Biotech index returned over 56% versus the Nasdaq 100's 29% as of July 7, 2026 β driven by innovation, a dealmaking pickup, and the booming obesity-drug market. GS raised its 2030 global obesity-drug sales forecast by 15% to $114 billion, with oral formulations expected to reach 40% of that market. Medicare began covering obesity drugs as of July 1, 2026, which GS expects to unlock further demand, alongside strong biopharma M&A appetite in oncology, immunology, neuroscience and cardiometabolic health.
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