Woodford’s empire crumbles. U.K biotech stays standing

Perhaps the greatest sign of robustness of the U.K. biotech sector is that it barely budged on the news this week of Neil Woodford’s demise.

Woodford’s struggles came to an acrimonious and swift end as the vaunted British investor shuttered the Woodford Investment Management firm on Oct. 15 after he was terminated as fund manager of his two largest funds and resigned from a third...