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Baker Brothers Make $1.4 Billion in Two Weeks on Biotech

  • Bakers have built one of the largest biotech investment firms
  • Industry stocks have struggled since March on Warren prospects
Felix Baker
Felix BakerPhotographer: Patrick McMullan via Getty Images
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Even in the volatile world of biotech, Baker Bros. Advisors has notched some extraordinary returns in the past two weeks.

On October 21, Seattle Genetics Inc. added $2.1 billion to its market capitalization after a study showed one of its therapies slowed the spread of breast cancer, including for patients whose disease had metastasized to the brain. Then on Friday in Hong Kong, BeiGene Ltd. gained 32% after Amgen Inc. said it would take a $2.7 billion minority stake in the Chinese-American drug developer.