BioCentury
ARTICLE | Finance

A Japanese correction

Japanese biotechs see large correction but still up since January 2013

February 10, 2014 8:00 AM UTC

Japan's biotechs exhibited the high beta typical of the sector last week, falling more than five times as much as the country's broader markets, which themselves have been taking a beating. Nevertheless, Japanese biotechs still have far outperformed the market over the last 13 months.

An equal price-weighted index of 29 Japanese biotechs fell as much as 24% last week before closing down 16%. Every biotech in the index was down...