Seeking Alpha conducted a roundtable on Biotech. Here are the highlights with my responses.Seeking Alpha: We've had a few government level developments this year that could affect biotech.Chris Lau, author of Value Stocks For DIY Investors:The political risks for the biotech sector cannot be ignored. It is the single biggest factor that may keep the biotech sector, especially generic drug suppliers, from moving higher. Endo International (ENDP) is covered for my subscribers. Teva International (TEVA) is about to give up its recent gains. Valeant Pharmaceuticals (VRX), along with its business transition risks, may face more pricing pressures from generics. As an unpredictable factor in the valuation of stocks, investors should not fret if and when their holdings drop 25% or even 40-50 percent.Gilead Sciences:Gilead’s (GILD) stock valuation is adjusting to the mean. After years of outperformance, the stock may underperform for a while. Until the company figures out how to accelerate growth, continue to expect disappointment holding this stock. Investors want Gilead to make an acquisition but it takes savvy management to buy a great company without overpaying. Was Pharmasset a one-hit wonder?To reduce (exposure to) political risks, stick to the companies having a promising drug or screening test approved for market, like Exelixis’s (EXEL) Cabometyx drug for treating kidney cancer. Exact Sciences’ (EXAS) Cologuard not only grew test volume to 244,000, up 135% from 2015, but it is developing a new lung cancer test.ACADIA Pharmaceuticals (ACAD) is a compelling buyout story. It launched Nuplazid on May 31, 2016 for the treatment of Parkinson’s disease psychosis.A few DIY members thought Synergy Pharmaceuticals (NASDAQ:SGYP) would bottom in the $4.50 range.Continue reading: the full article is here.