Bernstein Analyst Shares His Picks In Biopharma Sector

Ronny Gal of Bernstein spoke on CNBC's "The Exchange" about stocks he likes in the biopharmaceutical sector. He thinks we can shrug off the political risk as it seems unlikely Democrats would be able to pass a resolution that could hurt the sector.

In the sector, he likes Pfizer Inc. PFE as he doesn't see any material downside in the near term for the stock.

Gal also likes AbbVie Inc ABBV. He explained that the big fear is related to its Humira drug because it's losing its patent protection. He believes there are a couple of good drugs in AbbVie's pipeline that could prove to be a great substitute for the lost revenue from Humira. He also likes the Allergan acquisition because he thinks it's going to come back roaring.