ME - Better Diversified Biotech Stock: 23andMe vs. Fulgent Genetics
2023-05-23 09:53:00 ET
Most biotechs don't have a diversified business model. They typically develop hardware, diagnostic tests, or drugs, as well as some of the associated platform technologies. But a few competitors, like 23andMe (NASDAQ: ME) and Fulgent Genetics (NASDAQ: FLGT) , are pioneering a somewhat different strategy.
Both 23andMe and Fulgent provide genetic testing and diagnostic services as well as perform drug development. The idea is that there's probably a competitive advantage of some kind in drug development, lurking somewhere in the reams of genetic information that the companies generate via their testing services.
So which company is more likely to pull off the diversified biotech strategy more effectively in the long term, given that neither is profitable at the moment?
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Better Diversified Biotech Stock: 23andMe vs. Fulgent Genetics