Biotech Falls Again as Celgene Suffers

Celgene (CELG) today reported above-consensus earnings today but that wasn’t enough to lift its shares–or head off another biotech selloff. Remember, yesterday the iShares Nasdaq Biotechnology Index (XBI) fell 1.6% after Biogen Idec (BIIB) and Amgen (AMGN) both disappointed. Even Gilead Sciences’ (GILD) big beat couldn’t do much to offset the weakness. And today, biotechs are [...]