Pharmaceutical ETFs on the Rise

Celgene (CELG) announced it was buying Abraxis (ABII), and Sanofi-Aventis (SNY) said it would buy privately held TargeGen. Additionally, AstraZeneca (AZN) won a patent ruling over its drug Crestor. Turning to Pharma ETFs, the Pharmaceutical HOLDRS ETF (PPH) is trading about flat, while the Biotech HOLDRS (BBH) is trading higher by almost two tenths of a percent. The SPDR S&P Pharmaceuticals ETF (XPH) is trading higher by nearly half a percent Wednesday. According to ETFChannel.com, Pharmceutical HOLDRS ETF has about 25% of their holdings in Johnson & Johnson (JNJ), followed by Merck & Co (MRK) and Pzifer (PFE). Biotech HOLDRS has Amgen (AMGN) as their largest holding, followed by Gilead Sciences (GILD). The SPDR S&P Pharmaceuticals ETF has Valeant Pharma (VRX) as their largest holding, followed by Salix Pharma (SLXP). Learn how to find the best stocks to trade each day in our 70 page E-Book and 90 minute online video for free.