Investors are avoiding biotechs in the wake of the abrupt resignation notice from FDA Commissioner Scott Gottlieb, M.D. who was a champion of more efficient and responsive agency action, although punters should expect another industry-friendly chief from the Trump administration.
Selected tickers: SPDR S&P Biotech ETF (XBI -2.9%), Biogen (BIIB -1.8%), Amgen (AMGN -3%), Intrexon (XON -2.4%), Ionis Pharmaceuticals (IONS -2.4%), Nektar Therapeutics (NKTR -4.2%), Gilead Sciences (GILD -2%), Clovis Oncology (CLVS -4.3%), Vertex Pharmaceuticals (VRTX -2.6%), bluebird bio (BLUE -2.7%), BioMarin Pharmaceutical (BMRN -1.2%)
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