NEW YORK ( TheStreet) -- Friday on CNBC's "Fast Money Halftime Report", the gang had a discussion about whether biotechnology is now in a bubble because of how well it is done this year. The iShares Nasdaq Biotechnology (IBB) ETF is up 49% this year compared to a 23% gain for the SPDR S&P 500 (SPY)."Fast Money" Contributor Stephen Weiss noted that the biotech industry in not in bubble territory noting the Amgen (AMGN) is trading at 15 times next year's earnings and that Gilead (GILD) is only trading at 10 times 2015 earnings estimates. He also cited the Affordable Care Act as a catalyst for earnings growth. Pete Najarian echoed Weiss' sentiment.
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