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).
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AMGNAmgen Inc
$291.501.53%
Edge Rankings
Momentum
47.56
Growth
51.27
Quality
51.95
Value
21.78
Price Trend
Short
Medium
Long
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