Teva, Cephalon Boost Biotech ETFs
May 02, 2011 at 11:45 AM EDT
Biotechnology exchange traded funds (ETFs) rallied to open the week after Teva Pharmaceutical (NasdaqGS: TEVA) said it’s buying Cephalon (NasdaqGS: CEPH) for $6.8 billion in a blockbuster sector deal. The combined company would represent about $7 billion in annual sales. Shares of Teva and Cephalon...