In the general news, the stock market in China continued to fall, losing more than 30% this year. In The U.S., South Carolina voted to remove the confederate flag.
In healthcare business news, Edwards (EW) acquired CardiAQ for their percutaneous mitral valve, since their own program was failing. Also, Irish company Horizon Pharma (HZNP) plans to acquire Depomed (DEPO) for $3 Billion.
From the FDA, Novartis (NVS) received approval for heart failure drug Entresto. Also, Danish company H. Lundbeck and Japan’s Otsuka Pharmaceutical received approval for an anti-psychotic drug named Rexulti. NSAID’s made of ibuprofen (Motrin, Advil) and naproxen (Aleve) now have a black box warning that they certainly increase the risk of stroke and MI, and that the risk is immediate. The number of people killed by the drugs over the decades, or why it took so long for the FDA to act, was downplayed in the press.