The Weekly Summary

Obama-pitching-Syria-at-G20September 3rd – September 8th  

In general news, President Obama failed to gain international support at the G20 summit for striking Syria in retaliation to chemical weapons. In the US, the August jobs report was weaker than expected, relating to whether the Fed will taper QE in September or not.

In healthcare business news, C.R. Bard (BCR) acquired Rochester Medical to diversify into urology. JNJ plans to divest the $5 B in revenue in-vitro diagnostic business, Ortho Clinical Diagnostics.

On the data front, the Amgen and partner Cytokinetics (CYTK) trial in heart failure for drug omecamtiv mecarbil (previously CK-1827452) failed. Rockwell Medical’s (RMTI) iron deficiency anemia drug, Soluble Ferric Pyrophosphate, met endpoints. A safety committee raised concerns over ArQule’s (ARQL) liver cancer drug, tivantinib. Lastly, the ESC cardiology meeting presented a review of the data on Type 2 diabetes drugs, such as Avandia, which concluded they were safe.

From the FDA, Eli-Lilly’s (LLY) Abraxane was approved for pancreatic cancer.

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