In the general news, banks in Greece closed as the country defaulted on loans. In Cuba, the U.S. opened an embassy as relations normalize. In the U.S., oil company BP paid $18.7 B in fines for the gulf oil spill, and 223,000 jobs were added in June keeping unemployment low at 5.3%, and July 4th passed without any of the terrorist attacks feared.
In healthcare business news, Aetna (AET) acquired Humana (HUM) for $34.1 Billion. Juno (JUNO) stock spiked on a deal with Celgene (CELG), and Biogen (BIIB) partnered with Applied Genetic Technologies Corporation (AGTC) for gene therapy.
On the data front, insulin pumps were shown to cut the risk of heart disease deaths with diabetes patients. Tandem (TNDM), Roche, Medtronic (MDT), Insulet (PODD), and JNJ’s Animas all make pumps.
From the FDA, Vertex’s (VRTX) combination cystic fibrosis therapy Orkambi was approved and the company set a price of close to $300,000 for a year of treatment.
In other regulatory news, the Physician Payment Sunshine Act that was passed as part of the ACA is producing data. Drug and medical-device makers paid $6.49 billion to U.S. doctors and hospitals during 2014.