Celgene (NASDAQ:CELG) rose on positive results from a trial of an experimental compound to treat relapsed/refractory multiple myeloma. We consider Celgene, with its robust revenue and earnings, and deep pipeline, one of the biotechnology sector’s most fundamentally sound companies. As of the end of the period, the Fund focused its holdings in high-conviction biotechnology and specialty pharmaceutical companies. We expect that productive research and development activity will yield effective disease treatments that improve the quality of patients’ lives, characteristics that historically have been the source of longer-term outperformance in the sector.
From Spiros Segalas (Trades, Portfolio)' Harbor Capital Appreciation Fund Managers' second quarter 2017 commentary.
