The Weekly Summary

HOLDER-popupMay 28th – June 2nd

In general news, it was a slow week due to the lingering effects of Memorial Day. Existing home sales prices spiked, along with strong consumer confidence, sending the markets higher. Attorney General Eric Holder was taking the heat over his testimony on the IRS scandals. And in the Midwest, more tornados and floods pummeled Oklahoma.

In healthcare business news, AstraZeneca (AZN) bought Omethera (OMTH), for its Phase 3 omega-3 drug Epanova. Also, Amgen (AMGN) partnered with Astellas (YPH) to move into the Japan markets.

On the data front, ASCO convened, with little news since the abstracts were released.

From the FDA, Glaxo’s (GSK) Tafinlar (dabrafenib) and Mekinist (trametinib) were approved for metastatic melanoma, along with companion diagnostic assay from bioMérieux S.A., THxID-BRAF. Edwards Lifesciences (EW) received a plant inspection 483 warning letter on its Utah plant that makes valves, putting at risk the next-generation Sapien valve approval. Lastly, CMS denied coverage once again for the Cyberonics (CYBX) anti-depression vagus nerve stimulator.

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