The Weekly Summary

Macys-balloonNovember 25th – December 1st  

In the general news, China stirred up trouble by claiming a larger airspace near Japan as their own. In the U.S., Thanksgiving passed by without trouble, despite a Midwest storm, and Obamacare was set back again, with another delay. Small business will be given until 2015 to fully comply.

In healthcare business news, Thanksgiving caused a near blackout of news. Bayer did bid $2.4 B for Norwegian cancer company Algeta.

On the data front, Orexigen (OREX) shares soared on Phase 3 data for weight loss drug Contrave.

From the FDA, the Google-backed genetic test company, 23andMe, run by the former wife of Google co-founder Sergey Brin, was shut down by the FDA for marketing the human genome tests before FDA approval. Restriction on GSK’s Avandia. Lastly, another drug won “Breakthrough” status, Portola Pharmaceuticals’ Factor Xa inhibitor “antidote”, PRT4445, to reverse drugs, such as Xarelto, Eliquis, and Lovenox.

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