Actionable news
0
All posts from Actionable news
Actionable news in GE: GENERAL ELECTRIC COMPANY,

How Will General Electric (GE) Stock React to Expected Drugmaker Boom?

NEW YORK (TheStreet) -- General Electric's (GE - Get Report) health-care division expects drugmakers making cancer gene therapies to bring in at least $10 billion in sales by roughly 2021, Bloomberg reports.

General Electric is an infrastructure and financial services company that produces manufacturing equipment that could benefit from a drugmaker market boom. Its health-care division, which saw sales of $18.3 billion during 2014, accounts for 12% of total revenue and creates products such as mammography machines and incubators, according to Bloomberg.

General Electric's projection assumes that more than 100,000 patients will be treated with engineered cancer-fighting-T-cells by 2021, Bloomberg notes. The company is supplying bioreactors to help companies boost production before the therapies hit the market as soon as 2017.

STOCKS TO BUY: TheStreet's Stocks Under $10 has identified a handful of stocks with serious upside potential. See them FREE for 14-days.

Although General Electric Healthcare is likely the sole supplier of these bioreactors as of now, competitors in the biologics manufacturing field could enter the market, Bloomberg adds.

Shares of the company closed up by...


More