PBTQ Gains, Lifted by Celgene, Genzyme Friday, October 1, 8:43 AM ET, by Market News Video Staff The PowerShares Global Biotech Portfolio (PBTQ) has a market value of only $3.7 million, but ...
Gilead Sciences 23.68% of Biotech HOLDRS ETF Thursday, October 7, 8:24 AM ET, by Market News Video Staff Gilead Sciences (GILD) makes up 23.68% of the Biotech HOLDRS (BBH) ETF. The Biotech HOLDRS ...
Genzyme Insists $69 Per Share Too Low Friday, October 22, 3:32 PM ET, by Market News Video Staff The Board of Directors for Genzyme Corp. (GENZ) continues to rebuff the hostile takeover efforts ...
IBB Sees Heavy Shorting, Largest Holding Amgen Monday, October 25, 10:08 AM ET, by Market News Video Staff There are 7,884,900 shares short of the iShares Nasdaq Biotechnology Index Fund (IBB) according to ...
By Market News Video Staff, Thursday, November 18, 12:18 PM ET
Genzyme (NASDAQ:GENZ) said today it has agreed to sell its diagnostic products business to Sekisui Chemical Co. for $265 million in cash. Sekisui has said it will offer employment to all of the unit’s 575 employees upon closing. Genzyme said the sale is part of its plan to increase value for shareholders, by sharpening its focus and allocating resources to key areas for growth. The transaction is expected to close by the end of the year.
Genzyme shares are trading modestly higher Thursday.
GENZ is in the top five holdings of the Biotech HOLDRS (AMEX:BBH) fund, trading higher by 1.4% today. Amgen (NASDAQ:AMGN) is the top stock in the fund, accounting for 35.18% of the total portfolio. Gilead Sciences (NASDAQ:GILD) is 24.5% of the portfolio, followed by Biogen Idec (NASDAQ:BIIB), at 17.66%.
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