Biotech stocks came under pressure along with the broader market in the week ended June 12, as a worsening pandemic situation and its impact on the economy led to an across-the-board sell-off in the global markets.The week kickstarted with the rumor of a big-ticket acquisition. AstraZeneca plc (NYSE: AZN) reportedly approached Gilead Sciences, Inc. (NASDAQ: GILD) with a bid, although experts and analysts shrugged off the possibility of a deal materializing.The FDA promptly approved Viela Bio Inc’s (NASDAQ: VIE) drug for treating neuromyelitis optica spectrum disorder.More importantly, five biopharma companies debuted on Wall Street, raising a combined $983.25 million. The …read more
Source:: Yahoo Finance
