What Is Troubling The Biotech Industry? by Isaac Sprecher The past several months have been especially difficult for the biotech industry. In mid-July Celgene purchased Receptos for ~8 billion dollars and the industry looked as if this bull market would go on forever. However on Friday, July 24, 2015 Biogen reported a lackluster quarter and sparked a downward spiral. Since then, the biotech industry has plunged (IBB ~33%, XBI ~43%). In January alone many small to mid cap bios were down almost 50% or more. Many additional factors have contributed to this crash; in August the Chinese stock market crashed, in…
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