Merck & Co. Inc. announced Sunday a deal to acquire Prometheus Biosciences Inc. for $200 a share, or about $10.8 billion. "We're going to make real investments. (IBB), which also tracks the sector, has lost 14.2%. The third would allow people to import drugs from Canada and other countries. In April, the FDA pushed back its reviews of eczema drugs from AbbVie (ABBV) and Pfizer (PFE) by three months. BioNTech is a Germany-based biotechnology company that focuses on developing cancer therapeutics, including individualized immunotherapy, as well as vaccines for infectious diseases, including COVID-19. Privacy Notice | This compensation may impact how and where listings appear. But in the absence of a positive catalyst, little is likely to prevent the sector from moving lower in the short term. Industry analysts warn that a groundbreaking change in how Medicare buys drugs threatens industry growth, profits and maybe patient 4/28/2023 The key to investing in early-stage biotech companies is to understand in advance when their catalysts will occur. That followed a three-month delay for the same drug from AbbVie in psoriatic arthritis, announced last month. The latest biotech headlines from MarketWatch. Such events aren't guaranteed to be positive, but diversification can mitigate the risks. Is Moderna Stock A Buy Or A Sell On The Long Road For Its Cancer Vaccine? You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. Let's use Annovis Bio (ANVS 1.92%) as an example. Many traders purchase biotech stocks at poorly chosen moments. "Even though biotech is the one (segment) that has been getting us out of this pandemic, biotech has been out of favor," said Yaniv Sneor, a founder of the angel investor group Mid Atlantic Bio Angels.
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