3Q Market Review: Biobulls make their case

Overlooking the shaky conditions of the overall stock markets in the past two weeks, the reality is that the biotech sector has been on a tear. The BioCentury 100 was up 11 out of the 14 weeks in the third quarter. It is up 17 percent on the quarter, 24 percent on the year, and 93 percent since the group started rising at the beginning of September 1998.

But while the biotech equity market has been known to get ahead of itself, this time it looks like the enthusiasm is sustainable, driven by the fundamentals of the mid-tier and top tier companies...