Polar Capital Global Healthcare Trust PLC (LON:PCGH) has taken a stake in French pharma group Sanofi as its exposure to the US healthcare market hit nearly 75%
In a portfolio update as of 30 September, the investment management firm reported that the Sanofi interest accounted for 5.2% of its portfolio, its second-largest holding.
US pharma group Merck & Co remained the company’s largest single interest at 6.3%, down slightly from its 6.5% share at the end of August.
In terms of sector exposure, healthcare equipment still held the largest share of the portfolio, although this had fallen month-on-month to 36.8% from 39.5%, while biotechnology had jumped to 14% of the portfolio from 10.9%.
The US market dominated the group’s exposure across geographies with 74.9% of the portfolio compared to 69.5% the month before. The Danish market was in second place rising to 8.5% from 8.4% while the UK market declined to 5.4% from 7%.