Biotech shares fall
BUZZ-Health, Biotech shares fall after trade agreement disappoints
13:04 EDT Monday, October 05, 2015
** Biotechnology and broader healthcare sector stocks decline Monday after industry complains Trans-Pacific Partnership agreement falls short on patent protection for drugs
** Nasdaq Biotechnology index down 1.9 pct, S&P 500 healthcare sector index down 0.51, is the only one of 10 S&P industry sectors in the red on Monday
** "We are very disappointed in reports from Atlanta that suggest Trade Ministers have failed to include 12 years of data exclusivity for biologics in the Trans-Pacific Partnership (TPP) agreement," said Biotechnology Industry Organization CEO Jim Greenwood in a statement.
** Biotech stocks have recently been beaten down on concerns about price regulation. This issue was in the spotlight again Monday after a New York Times report about Valeant Pharmaceuticals pricing strateiges