Ugly sell-off hits British Biotech

OXFORD - Investors gave British Biotech (LSE:BBG; BBIOY) another hosing after it emerged that the company had suspended its director of clinical research, Andrew Millar, for alleged misconduct. When the dust settled at week's end, BBG's market value had been slashed by £128 million (US$209 million).

In a statement to the London Stock Exchange last Thursday, BBG announced that Millar, "has been suspended pending an investigation of breaches of company policy."...