The Weekly Summary

New-York-Harbor-1-9-2014January 20th – January 26th

In the general news, U.N. talks in Switzerland related to the Syrian civil war achieved little, as did the nearby Davos meeting of billionaires. In the U.S. record cold weather and snow pummeled the Midwest and Northeast.

In healthcare business news, earnings season began with JNJ, ISRG, BAX, STJ, BMY, and others reporting encouraging trends in revenue. In M&A, rumors of a takeover caused shares of Ariad (ARIA) to spike. Teva (TEVA) acquired NuPathe for its migraine treatment Zecuity. Lastly, Covidien (COV) exited the renal denervation device business in the wake of Medtronic’s surprise failure of Ardian.

On the data front, Amgen’s (AMGN) cholesterol-lowering evolocumab met endpoints in another trial. Also, Roche’s schizophrenia drug failed in two trials.

From the FDA, Amag (AMAG) was unable to convince the FDA to expand the label for its anemia drug Feraheme. India’s Ranbaxy products were banned from being used in medications meant for the U.S.. And in other regulatory news, CMS is cracking down on doctors who habitually over bill the system.

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