2Q26 Wrap: Income inequality

Biopharma stocks in 2Q26 were a story of the rich getting richer, with the top two tiers both seeing gains while the lower three all fell. Gains in the upper tiers were enough to push them positive for the first half overall, recuperating from 1Q26 when all groups saw losses.

The $10 billion or more starting valuation class gained a median of 3%, with 29 companies up and 15 down. For the year, so far they are at 5% median gain...