Biotech
Australia is too focused on mining stocks (which are far more susceptible to downturns than biotechs) to properly value biotechs.
It has often been quoted how the 10 pharmaceuticals in the Fortune 500 make more profits than the other 490 companies combined.
In the Russell 3000 index of the biggest 3000 companies in the US, 24 out of the 50 best performers were biotechs, the top 3 positions were all biotechs.
The number 1 and 2 positions were both the result of Hep C medicines. Pharmasset the number 1 mover was bought out for $11B.
An Australian company Biotron (BIT) recently released Hep C trial results which should eventually prove to surpass those of $11B Pharmasset. Also extremely promising for HIV (trial results due soon), bird flu, Dengue fever. The Australian market has it currently valued at a mere $17M...
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