"It's been a tough month for biotech," Piper Jaffray analyst Josh Schimmer wrote in a research note. "Enough to make us wonder if there's something happening in our industry (concerns about pricing?) that's uniquely weighing on the sector."
With the selloff in biotech —Thursday entering its fourth day—setting the industry on edge, Schimmer's note could have been written Wednesday. But in fact it was published March 27, 2014, almost a year ago to the day.
For biotech watchers, as Yogi Berra would say, it's deja vu all over again. Through Wednesday, the Nasdaq Biotechnology Index dropped 6.9 percent since the close March 20. In that same period last year, the index dropped 7.2 percent. Panic ensued.