Icahn finds strong medicine in bio and pharma returns


By Pete Gallo

Carl Icahn's hedge fund portfolio is starting to look a little bit like a crowded medicine cabinet these days. And it may not be a stretch to call it a cabinet full of wonder drugs, at least from a recent return perspective.

Sure, the drug sector has been on a rebound after bottoming out late last year. But in Icahn's case this isn't just passive medicine - at least not with his two biggest sector holdings, Amylin Pharmaceuticals and Biogen Idec. In February the activist investor proposed a massive overhaul of the boards of the two companies.