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2 Top Biotech Stocks Defying the Bear Market

TheMotleyFool

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2 Top Biotech Stocks Defying the Bear Market: https://g.foolcdn.com/editorial/images/715748/gettyimages-471674455.jpg

Investors are beginning the new year staring at a market that is already down significantly. And predictions for further losses in 2023 are plastered across a lot of headlines. The downturn has hit most industries. And biotech has been no exception. The SPDR S&P Biotech ETF is down 20% over the past year. That's slightly worse than the total return of the S&P 500 index.

But at least two stocks are bucking the trend. In fact, BioMarin Pharmaceuticals (NASDAQ: BMRN) and Novo Nordisk (NYSE: NVO) are at their highest levels in a year. Here's how these two biotechs are taking very different approaches to deliver for shareholders.