The weekly Summary

The art installation Embrace burns during the Burning Man 2014 "Caravansary" arts and music festival in the Black Rock Desert of Nevada, August 29, 2014. People from all over the world have gathered at the sold out festival to spend a week in the remote desert cut off from much of the outside world to experience art, music and the unique community that develops. REUTERS/Jim Urquhart (UNITED STATES - Tags: SOCIETY TPX IMAGES OF THE DAY) FOR -- -- USE WITH BURNING MAN RELATED REPORTING ONLY. FOR EDITORIAL -- -- USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS. NO THIRD PARTY SALES. NOT FOR -- -- USE BY REUTERS THIRD PARTY DISTRIBUTORS

August 25th – September 1st

In the general news, Russia has now officially invaded Eastern Ukraine. In the U.S., there isgrowing bilateral support for a more aggressive approach toward ISIS in Syria. Meanwhile, Labor day passed without incident.

In healthcare business news, Roche acquired InterMune (ITMN) for its pirfenidone to treat idiopathic pulmonary fibrosis (IPF). Also, JNJ is selling the Cordis interventional cardiology unit, now that it no longer sells stents.

On the data front, the ESC meeting hyped the Novartis (NVS) trial results for LCZ696 to treat heart failure, despite the fact that the trial was stopped half-way through the scheduled 43-weeks, thus generating artificially high efficacy (a previous trial failed). Also, Glaxo’s (GSK) darapladib failed in the ACS indication.

From the FDA, Amgen’s (AMGN) ivabradine won priority review status.

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