Advise writing/calling Fidelity for a FBIOX prospectus or perhaps you can find its latest SEC filing ---point is determine its latest disclosure of asset listing[there are a lot of separate stocks listed] and make up your mind based on your own opinion of how health/biotech sector is going to do for rest of decade. I cannot recommend one way or another---I can only report what we did last May on entering FBIOX. Following IBB on a daily basis also offers a clue what/how biotech sector is doing.
Suffice to say we continue to hold GILD, FBIOX and HQL with no current plans to divest/sell any portion of above. We also have large individual holdings in Pharm/biotech, some of which are listed in my profile under my stocks. An idea of our other holdings at one time or another[not necessarily current] can be discerned from boards I post on.
We do not limit ourselves to biotech or pharm---pretty well diversified: BA, 3M, DE, C, FDX, HOG, UA, ITC, INTC, AMAT, ORCL, VZ, are exemplary.
