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/"If you look at healthcare, in a period like this you tend to lean towards the more defensive sectors. Within biotechnology there are defensive aspects, but there are also non-defensive aspects. So with regard to interest rates there's obviously a positive for the sector if we're going to see a rate cut. But if you're in a recessionary environment, then you can kind of weather that situation and people will determine where they go for growth and a more defensive play. which will likely be these bigger, more quality-oriented names,” Richter explains. She points to Amgen (AMGN) as an investment opportunity as it works on products to treat cancer and autoimmune diseases in addition to its GLP-1 offering. and uses AI in its genetic medicine efforts.
She also points to Vertex (VRTX) as an opportunity because it "not only essentially furthers their monopoly on cystic fibrosis, but also introduces a non-opioid version of pain." She notes that Vertex also wants to build a cancerous space both vertically and innovatively in the autoimmune space. Richter explains that in choosing a name like Vertex, "it's much more about where do you see innovation and sustainable growth and kind of a best-in-class vision?" She adds that diversification is key, and both Amgen and Vertex are. an advantage over their competitors in that regard.
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