Biotech Values

[Rocky3]

BMY and MRK were down Friday 4.3%/3.9%, respectively—AZN’s approval in 1L-NSCLC (#msg-170426455) may have been the impetus for part of the selloff.

And AZN was down 3.56%. Plus LLY was down 4.45% and GSK was down 5.65%. So I think a much better explanation is a rotation out of those stocks that have down well into those that have underperformed. Defense stocks like GD and NOC were also hit hard.