The Weekly Summary

ISISJune 16th – June 22nd

In the general news, a so-called ringleader of the 2012 attack on the U.S. Benghazi diplomatic mission was arrested, as Hillary Clinton was in full PR mode for her book tour and 2016 presidential campaign. In the Middle East, Iraq continued to fall to radical terrorists calling themselves ISIS, and President Obama sent 300 troops to “train” the Iraqis. In congress, TV quack Dr. Oz was scolded for promoting herbal weight loss remedies.

In healthcare business news, the rush to “invert” into a European domicile, for lower tax rates, caused Medtronic (MDT) to buy Covidien (COV) for $43 B and become an Irish company. Following suit, Abbvie (ABBV) tried to acquire European Shire for $46 B, but was rebuffed.

In other dealmaking, Orasure (OSUR) partnered its oral HCV test to market with the Abbvie HCV cocktail of drugs. Also, the WSJ reported that health insurance companies would be hiking rates soon, as a result of the ACA law.

On the data front, two NIH-studies showed efficacy of a new artificial pancreas system. Dexcom (DXCM) monitors were interfaced to iPhones.

From the FDA, Edwards (EW) lobbying won and they received approval for the next-gen Sapien valve, despite the manufacturing plant being under a 483 warning letter. The Boston scientific (BSX) left atrial occlusion devices, the Watchman, will now have to go before a third advisory panel. EnteroMedics (ETRM) received advisory approval for the Maestro weight loss device. Lastly, Cubist (CBST) won approval for antibiotic Sivextro.

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