The Global Genes Rare Disease Stock Index Soars 19.33 Percent on AveXis Deal

Novartis’ planned $8.7 billion acquisition of gene therapy developer AveXis sent the Global Genes Rare Disease Stock Index soaring. The index rose 19.22 percent for the week, outshining all of the other indices tracked by Rare Daily. The other indices ended the week in positive territory with the Nasdaq Biotech climbing 4.84 percent. For the year, the GGRDSI is up 21.65 percent, far outperforming all of the other indices. The Nasdaq Composite is the only other index in positive territory for the year.

INDEX2017 Close4/6/20184/6/2018Week ChangeYTD CHANGE
GLOBAL GENES RARE DISEASE STOCK INDEX1232.321,256.281,499.1719.33%21.65%
NYSE ARCA PHARMA544.93521.85532.672.07%-2.25%
S&P 5002673.612,604.472,656.301.99%-0.65%
NASDAQ COMP6903.396,915.117,106.652.77%2.94%
NASDAQ BIOTECH3356.613,176.483,330.144.84%-0.79%

The Global Genes Rare Disease Stock Index is a price-weighted index of a representative sample of rare disease drug developers whose shares trade on U.S. exchanges. The index had a value of 1,000 on December 30, 2016. The components include Alexion Pharmaceuticals (ALXN), Amicus Therapeutics (FOLD), Audentes Therapeutics (BOLD), AveXis (AVXS), BioMarin Pharmaceutical (BMRN), bluebird Bio (BLUE), Corbus Pharmaceuticals (CRBP), Idera Pharmaceuticals (IDRA), Intercept Pharmaceuticals (ICPT), Ionis Pharmacecuticals (IONS), PTC Therapeutics (PTCT), Sarepta Therapeutics, Spark Theraeptuics (ONCE), and Ultragenyx Pharmaceutical (RARE). 

Filed Under: Business, Data Center, Global Genes

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