Is the rise in drug stock prices sustainable?

Fine run: Pharmaniaga has risen by as much as 530% from its March-MCO low of 88 sen in the recent pharmaceutical stock play.

AFTER going through a sustained phase of accumulation, following the announcement of the movement control order (MCO), pharmaceutical stocks saw a sudden surge in prices during the week.

They have seen strong gains after traders and investors drove up their prices in expectations of a Covid-19 vaccine that would be available in the near future.