3 Funds To Gain From Antiviral Drug Therapies

The unprecedented novel coronavirus is taking a huge toll on the world and biotechnology and healthcare companies are rushing to find a cure. Experts have opined that antiviral drug therapy is one of the most effective methods of combating COVID-19.

Anti-Viral Drugs Paint a Promising Picture

The FDA started to work directly with federal health partners, educational institutions and major industry players to fight COVID-19 soon after its emergence. Given the urgency to find a cure to the pandemic, the FDA initiated a new program called the Coronavirus Treatment Acceleration Program to treat coronavirus patients as fast as possible.

As of now, 72 clinical trials of possible therapies for the novel coronavirus are in progress. Out of these trials, one study which comprises direct-acting antivirals was found to be effective to a large extent.

Furthermore, an assessment conducted in February by the World Health organization also confirmed the effectiveness of antivirals in treating COVID-19.

Prospect of Global Anti-Viral Drug Therapy Market is Bright

Considering the aforementioned developments, let us now take a look at the global anti-viral drug therapy market. The market is expected to grow to about $59.9 billion in 2020 from $52.2 billion in 2019, owing to the rise in demand for antiretroviral drugs which are used in the treatment of coronavirus patients. The market is expected to stabilize and reach $62.6 billion at a compound annual growth rate of 4.6% through 2023.

Mutual fund investors who wish to make the most of this growth of the anti-viral drug therapy market can consider a few funds that invest in companies that are currently working in the arena of antiviral drug therapy.

3 Funds to Buy

We have, therefore, selected three mutual funds that have invested in securities of companies such as AbbVie Inc, Bristol-Myers Squibb Company, and Medtronic PLC, all of which are committed to finding a cure for the current pandemic. These funds carry a Zacks Mutual Fund Rank #1 (Strong Buy) or #2 (Buy). In addition, the minimum initial investment for these funds is within $5,000.

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