There Go the Biotechs as Generic Approval Rocks Amgen

By Ben LevisohnBiotech stocks like Gilead Sciences (GILD) and Amgen (AMGN) have been a great place to be for investors. Now, the approval of the first biosimilar in the U.S. is raising concerns that biotech profits will decline–and causing their stocks to tumble. Citigroup’s Andrew Baum and team explain why:
Bloomberg News

Approval of Sandoz’s Zarxio, with full extrapolation across indications and lack […]