Biotech ETFs Could Get A Shot In The Arm From AcquisitionMay 10, 2008by Tom LydonBiotech Biotechnology is rising up to analyst's predictions that a near future run could send related stocks and exchange traded funds (ETFs) up. The latest April announcement that Takeda Pharmaceutical would buy Massachusetts-based Millennium Pharmaceuticals (MLMN) for $8.8 billion sent the MLMN shares higher than they've been in a while, reports Don Dion for Seeking Alpha.Millennium sells the anti-cancer injection drug Velcade, and is lifting investor's expectations for a biotech sector run. PowerShares Dynamic Biotech & Genome (PBE) could especially benefit, as 80% of this ETF consists of small-mid-cap stocks that will benefit from the acquisition. PBE holds 8.4% in MLMN. It's down 5.2% year-to-date.Other biotech ETFs that could experience a shot in the arm: * SPDR Biotech (XBI), down 3.9% year-to-date * iShares NASDAQ Biotechnology (IBB), down 4.7% year-to-date * First Trust AMEX Biotechnology (FBT), down 4.9% year-to-date * Biotech HOLDRs (BBH), holds 1% in MLMN, up 1.8% year-to-dateETF Trends - Keeping a grip on exchange traded funds (ETFs)
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