The Traderszone Network

Published in TZ Latest News 26 December, 2014 by The TZ Newswire Staff

IBD 50: Biotechs Hammered, Then Find Support

After a brutal correction, several leading biotech members of the IBD 50 found support at their 50-day moving averages. The correction kicked off Monday when Express Scripts (ESRX), the nation’s largest health benefits manager, announced that it would exclusively use AbbVie’s (ABBV) hepatitis C drug. That left Gilead Sciences (GILD), whose recent growth has been fueled by its hepatitis C treatment, out of the picture.

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