By Val Brickates Kennedy
BOSTON (MarketWatch) -- European drug makers were the hardest hit in the pharma sector midday Tuesday as the broader market tumbled on worries that the Chinese economy was fizzling. Lead decliners among the Big Pharma denizens included Bayer AG (BAYRY 55.75, -2.55, -4.37%) , H. Lundbeck A/S (HLUKY 13.53, -0.57, -4.04%) , Roche (RHHBY 34.55, -1.05, -2.95%) , and Sanofi-Aventis (SNY 29.74, -0.81, -2.65%) , all down about 3%. On the biotech side, Vertex Pharmaceuticals (VRTX 33.45, -1.26, -3.63%) , Regeneron Pharmaceuticals (REGN 23.36, -0.91, -3.75%) , and Myriad Genetics (MYGN 15.70, -0.56, -3.44%) were the decliners of note among the larger-cap issues, all down around 3%. The NYSE Arca Pharmaceutical Index (DRG 276.14, -3.40, -1.22%) was down 1.2% at 276.32, while the NYSE Arca Biotechnology Index (BTK 1,051, -23.67, -2.20%) slid 2.2% to 1051.02. The Dow Jones Industrial Average lost about 240 points to rest at 9,895. |
