OrbiMed Advisors managing partner Sam Isaly told CNBC that biotech could be volatile, however, the valuations were "sensible."
Isaly's top picks included:
ZIOPHARM Oncology Inc. ZIOP
Regeneron Pharmaceuticals Inc REGN
Actelion Ltd ALIOF
Molina Healthcare, Inc. MOH
Health Net, Inc. HNT
Isaly said that the performance of the industry had been "great" over the past 3 to 5 years and that explosive growth in new products was expected to drive biotech stocks higher.
The iShares NASDAQ Biotechnology Index (ETF) IBB had gained nearly 50 percent over the past 12 months and closed at $340.08 Wednesday, down 0.98 percent.
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