Biotechnology companies pioneer new drugs and make life better...how ironic their stocks have managed to wreak so much havoc in recent weeks. If you're looking for a culprit behind the selloff, blame biotech. The group's momentum led stocks higher, and now it's payback time.
Google Inc. and Viacom Inc. settled Viacom’s $1 billion lawsuit over claims YouTube violated copyrights by allowing unauthorized posts of video clips of television after a U.S. judge threw out the allegations twice.
Money is flooding into exchange- traded funds focused on health care at the fastest rate in at least six years, driven by booming biotechnology and pharmaceutical sectors bringing new products to market.
Merck & Co., the second-biggest U.S. drugmaker by sales, will work with three other drugmakers to find the most-promising combination treatments for its top pipeline prospect, an immune system-based cancer medicine.