Piper Jaffray analyst Christopher Raymond said he expects biopharma stocks to be up sharply on news that former National Cancer Institute director Ned Sharpless will be named acting FDA commissioner. The biotech sector “experienced a swoon of sorts” since Scott Gottlieb announced his departure, but with the announcement of Gottlieb’s favored choice as successor Raymond believes the FDA will remain “on its current industry-friendly and efficiency driven trajectory,” the analyst tells investors.
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