Monday, March 2, 2009

Biotech stocks see a selloff

In a recent article at CNBC, they look at the recent sell-off of biopharma stocks last week. They saw two main issues:

- Big pharma -- investors are worried about President Obama's proposal to raise the rebates the companies would have to provide for popular drugs bought by Medicaid.
- Big biotech -- the fear is over the administration's roadmap for getting cheaper, generic versions of expensive, supposedly harder-to-reproduce biotech drugs on the market.

For more, read the article here.

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