The Weekly Summary

REUTERS IS UNABLE TO INDEPENDENTLY VERIFY THE CONTENT OF THIS VIDEO, WHICH HAS BEEN OBTAINED FROM A SOCIAL MEDIA WEBSITE. A masked Islamic State militant holding a knife speaks next to man purported to be U.S. journalist James Foley at an unknown location in this still image from an undated video posted on a social media website. Islamic State insurgents released the video on August 19, 2014 purportedly showing the beheading of Foley, who had gone missing in Syria nearly two years ago, and images of another U.S. journalist whose life they said depended on U.S. action in Iraq. The video, titled "A Message to America," was released a day after Islamic State, an al Qaeda offshoot that has overrun large parts of Iraq, threatened to attack Americans "in any place." U.S. officials said they were working to determine its authenticity. REUTERS/Social Media Website via REUTERS TV (Tags: CIVIL UNREST MEDIA TPX IMAGES OF THE DAY) ATTENTION EDITORS - THIS PICTURE WAS PROVIDED BY A THIRD PARTY. REUTERS IS UNABLE TO INDEPENDENTLY VERIFY THE AUTHENTICITY, CONTENT, LOCATION OR DATE OF THIS IMAGE. THIS PICTURE IS DISTRIBUTED EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTS. FOR EDITORIAL -- -- USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS. NO SALES. NO ARCHIVES

August 18th – August 24th

In the general news, the beheading of journalist James Foley sent the U.S. and President Obama into war mode, as larger scale operations into Syria and Iraq are planned to stamp out ISIS. In The U.S., news was slow over summer vacation, except for an earthquake that hit San Francisco.

In healthcare business news, Allergan (AGN) approached Salix (SLXP) as a defensive measure to prevent Valeant (VRX) from acquiring them.

On the data front, Amgen (AMGN) announced positive results on a second trial of AMG-416 to treat hyperparathyroidism. Auxilium (AUX) also posted positive data on Xiaflex to treat cellulite, as that drug continues to fail to gain acceptance by hand surgeons. Lastly, Eli Lilly (LLY) met endpoints in a trial of ixekizumab to treat psoriasis.

From the FDA, Biogen Idec (BIIB) won approval for Plegridy to treat MS. Also, Glaxo (GSK) won approval for Arnuity Ellipta to treat asthma.

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