The Weekly Summary

Snowden-leakerJune 10th – June 16th  

In general news, the Syrian war escalated when President Obama announced an about face to supply arms to the rebels fighting President al-Assad. At home, the scandals grew for the White House as it was confirmed by an NSA contractor that the government was indeed collecting phone records and Internet records on innocent Americans.   Iran new president

In healthcare business news, The SCOTUS ruled that human genes cannot be patented, impacting Myriad (MYGN) genetics. GlaxoSmithKline (GSK) fired a China-based researcher for reporting fraudulent clinical data, while they also probed allegations of bribery in China. Lastly, RTI Biologics (RTIX) will acquire Pioneer Surgical for $130 Million.

On the data front, Amgen’s (AMGN) trebananib was effective in ovarian cancer. Vanda (VNDA) posted good data on sleep drug tasimelteon, and another Alzheimer’s drug attempt for Eli Lilly (LLY) failed. This time, it was a BACE inhibitor.

From the FDA, Aveo’s (AVEO) kidney cancer drug tivozanib was rejected, with more trials requested. Also, Salix (SLXP) and Progenics (PGNX) stocks rose when Relistor received a date for an advisory committee.

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