In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award for two years running (2024 and 2025), takes a look at the biotech sector and speaks to Woody Stileman, London officer manager at RTW Biotech, managers of RTW Biotech Opportunities (RTW); Geoffrey Hsu, manager of Biotech Growth Trust (IBT); and Ailsa Craig, co-manager of International Biotechnology Trust (BIOG).
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303: Woody Stileman, Geoffrey Hsu, Ailsa Craig
0:02:47 – Woody Stileman – RTW Biotech (RTW)
0:03:13 – Why have biotech trusts been out of favour?
0:08:39 – The involvement of AI
0:10:45 – Appointments to the US Health Department and FDA
0:13:44 – Drug pricing
0:18:33 – RTW’s private holdings and the IPO drought
0:22:13 – The trust’s discount
0:29:24 – Risks in biotech
0:31:16 – A short break
0:32:22 – Geoffrey Hsu – Biotech Growth Trust (BIOG)
0:32:37 – Explaining the biotech resurgence
0:40:25 – Risks from an accelerated pipeline
0:41:42 – The selling points of BIOG
0:44:32 – Investing in China
0:47:18 – UK interest in the sector
0:48:34 – Ailsa Craig – International Biotechnology Trust (IBT)
0:48:56 – Looking at the changing fortunes of the biotechnology sector
0:54:26 – The IBT difference to other trusts in the sector
0:57:09 – The impact of the US drive to reduce drug prices
0:59:31 – New drugs originating from biotech
1:03:26 – Playing the China theme
1:04:53 – Best use of capital
1:06:01 – Capability of returns and position in the cycle
1:07:44 – The change of management house
1:09:08 – Close
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