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One of the first biologics developed was a drug known as etanercept (common name, Enbrel) that is a fusion protein formed from the cytokine binding domain of the TNF-receptor fused to the human IgG1 constant region, as shown in Figure Q6) . This biologic is used to treat patients with inflammatory diseases such as rheumatoid arthritis, psoriasis, and others. Etanercept was developed to avoid injecting patients with the mouse monoclonal antibody to TNF- , which was available at the time.
Figure Q6) Etanercept was preferred because:
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A measure of the volatility of a portfolio relative to the overall market; the aggregate beta of all the investments in the portfolio.
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The inherent risk associated with the entire market or market segment, undiversifiable through portfolio diversification.
Unsystematic Risk
The risk associated with a specific company or industry, which can be mitigated through diversification of an investment portfolio.
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