Sector Glance: Biotechnology - Forbes.com: "NEW YORK -
Shares of biotechnology companies closed mainly lower Thursday despite positive earnings from Celgene Corp., as the overall market took its biggest fall of the year on concerns over mortgage and corporate lending.
While most biotechnology stocks stumbled, Celgene bucked the trend as its second-quarter profit surged on a 76 percent jump in sales. Meanwhile, Millennium Pharmaceuticals Inc. reported a flat loss for the quarter, sending shares lower.
The American Stock Exchange's biotechnology index fell 7.86 points to 781.55. The index tracks several bellwether stocks. The Nasdaq Stock Market's biotechnology index, which covers a broader range of small- and midcap stocks, fell 9.8 points to 807.50.
The Dow Jones industrials lost 311.50 points, or 2.3 percent, to close at 13,473.57. The Standard & Poor's 500 index closed the day down 35.43 points, or 2.3 percent, at 1,482.66."
