A Biotech ETF Right for Oncology Mergers and Acquisitions

Last week’s news that AbbVie (NYSE: ABBV) will pay $21 billion, or $261.25 per share in cash and stock, for Pharmacyclics (NasdaqGS: PCYC), a maker of cancer treatments, in what represents the largest takeover of a biotech company in 15 years underscores a couple of points. First, valuations are...