In general news, a military court ruled that Private Manning did not aid the enemy when he leaked to WikiLeaks, as NSA leaker Ed Snowden was granted asylum in Russia. Domestically, NYC Mayor Bloomberg was defeated in appeals court with his attempt to limit the size of sugary drinks. Goldman Sachs’ sacrificial lamb, Fabrice Tourre, took the fall for the CDO scams of the 2008 financial collapse. Lastly, the markets end up higher 5% for July, with all-time highs in some.
In healthcare business news, earnings continued with good news from Aegerion (AEGR), Pfizer (PFE), and Aetna (AET), but mostly earnings misses from the rest, such as AstraZeneca (AZN), Haemaetis (HAE), Teva, and Merck (MRK). Biogen (BIIB) slipped when a patent was filed on a generic Tecfidera.
In M&A news, Perrigo (PRGO) will acquire Elan (ELN) for $8.6 Billion. Cubist (CBST) paid $1.6 B for two antibiotic companies, Trius (TSRX) and Optimer (OPTR), Actelion acquired future rights to buy private Ceptaris if cancer drug Valchlor is approved, and Community Health (CYH) acquired HMA for $3.9 B. PFE announced a restructuring into three business units, but no official spinoffs. Celgene (CELG) purchased options to buy myeloma drug maker Acetylon. Valeant (VRX) is making the expected cuts to newly acquired Bausch&Lomb. In dealmaking, AZN purchased rights to Fibrogen’s oral anemia drug pipeline.
In the data front, Pacira Pharma (PCRX) plummeted when pain drug Exparel failed. Also, Thoratec (THOR) delayed the HeartMate 3 trail into 2014.
From the FDA and CMS, Vanda (VNDA) spiked 40% when it announced that the FDA accepted the NDA on sleep drug tasimelteon. The safety concerns over Januvia, Byetta, and the GLP-1 class, which were investigated recently for pancreatic cancer risks, were found to be unwarranted by the FDA. CMS’ proposed NCD on LVADs was released. Lastly, more Florida pain pill doctors were convicted.