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It's the volume, stupid

 
• By Donna Young

Fear ruled the day again in biotech stock trading on 24 March over worries the Washington machine was seeking to seize control of the industry's pricing structure – a frenzy set off by a letter from three Democratic lawmakers sent late last week to Gilead Sciences over the pricing of its hepatitis C virus (HCV) medicine Sovaldi (sofosbuvir).

Fear ruled the day again in biotech stock trading on 24 March over worries the Washington machine was seeking to seize control of the industry's pricing structure – a frenzy set off by a letter from three Democratic lawmakers sent late last week to Gilead Sciences over the pricing of its hepatitis C virus (HCV) medicine Sovaldi (sofosbuvir).

While Gilead's woes infected the biotech sector, with the Nasdaq Biotechnology Index closing down 3% on 24 March, the company managed to actually gain slightly before the bell, up 6...

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