Fund Manager Picks Biotech, Pharma Stocks
Scott Richter, portfolio manager with Fifth Third Asset Management, oversees the Fifth Third Disciplined Large Cap Value Fund. The fund is up 8 percent year-to-date and 13 percent over the last three years.
The strategist offered CNBC viewers and CNBC.com readers a few of his favorite stocks in the health care and biotechnology sector.
Richter, rated four stars by Morningstar, first pointed to Eli Lilly.
The pharmaceutical firm has “has no major patent expirations until 2011,” as well as “successful pricing and volume on current products.”
Eli Lilly shares are traded on the New York Stock Exchange.
Richter praised Amgen as “a biotech company at a large pharma price.” The company’s management is “cutting costs and buying back shares,” he noted.
Amgen shares are traded on the Nasdaq.