Skip to main content
Premium Trial:

Request an Annual Quote

Merrill Lynch Creates BBH, Biotech Industry Security


NEW YORK--Merrill Lynch last month announced the launch of Biotech Holdrs, a new security representing 20 varied biotechnology companies, including several genomics companies. The price of the security was $109.18 each when trading began November 23 on the American Stock Exchange under the symbol BBH. 4.5 million Holdrs, representing undivided beneficial ownership interest in the common stock, were initially priced at a total of more than $490 million.

The company said it selected 20 of the largest and most liquid companies in the biotechnology industry, measured by market capitalization and trading volume. The security includes 46 shares of Amgen, 9 of PE Biosystems, 3 of Millennium Pharmaceuticals, and 2 shares each of Affymetrix, Celera, and Human Genome Sciences. Dow Jones Newswires reported that a purchase would likely require a minimum $10,000 investment.

Filed under

The Scan

New Study Highlights Role of Genetics in ADHD

Researchers report in Nature Genetics on differences in genetic architecture between ADHD affecting children versus ADHD that persists into adulthood or is diagnosed in adults.

Study Highlights Pitfall of Large Gene Panels in Clinical Genomic Analysis

An analysis in Genetics in Medicine finds that as gene panels get larger, there is an increased chance of uncovering benign candidate variants.

Single-Cell Atlas of Drosophila Embryogenesis

A new paper in Science presents a single-cell atlas of fruit fly embryonic development over time.

Phage Cocktail Holds Promise for IBD

Researchers uncovered a combination phage therapy that targets Klebsiella pneumonia strains among individuals experiencing inflammatory bowel disease flare ups, as they report in Cell.