Bristol-Myers Squibb Co. and AstraZeneca Plc. said patients taking their experimental diabetes pill, shown effective in a two-year study, had more breast and bladder cancers than those on a standard drug.
Pfizer Inc., Eli Lilly & Co. and Novartis AG have dug an idea out of the pharmaceutical dustbin to create new medicines that are showing blockbuster potential against hard-to-treat forms of breast cancer.
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.