Biopharma stocks retreated in the week ending Aug. 13, defying the optimism that was found in the broader market. Earnings continued to dominate the headlines, with small- and mid-cap companies among those that reported during the week.

The Dow Jones Industrial Average and S&P 500 Index managed to nab their fourth-consecutive intraday highs earlier in the session.

Qiming, a prominent China-based venture capital firm, has raised more than $500 million to invest in shares of listed healthcare companies. The Springhill Fund, as it is called, will have an initial regional focus on Greater China and Asia.