European biotech falls 20% as investors seek safety
This article was originally published in Scrip
European biotech stocks have, like their US counterparts, taken a beating with the general stock markets this month. While the stocks of European pharma majors such as GlaxoSmithKline, AstraZeneca, Novartis and Roche fell 9-12% between 1 August and 8 August, the EuroNext Next Biotech index fell over 20% in the same period.
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