12:00 AM
Apr 20, 2015
 |  BioCentury  |  Finance

Liking Japan's retail exodus

Why a specialist investor thinks retail exodus is good for Japanese biotech

At least one Japanese specialist investor hopes the ongoing rotation out of biotech by the country's retail investors is setting the stage for a new norm marked by a more mature, longer-term investor base and more rational growth.

Japanese biotech started a bull run in late 2012, when Kyoto University professor Shinya Yamanaka received a Nobel Prize for reprogramming mature cells to become pluripotent stem cells. BioCentury's equal price-weighted index of 31 Japanese biotechs was up nearly 400% at its peak in May 2013.

After several corrections, the index is well below its peak, but is still up 80% since the group began to heat up at the start of 2013. The BioCentury 100 index of U.S.-listed biotechs is up 151%...

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