The Weekly Summary

EU refugeesAugust 31st – September 6th

In the general news, thousands of refugees fleeing ISIS in Syria flooded Hungary attempting to reach Germany. None of the Arab states were offering to help take them in. In the U.S., six police officers in were targeted and shot in different random incidents throughout the country. President Obama visited Alaska, renamed Mount McKinley to Mount Denali, and plans to expand the U.S. ice breaker ship fleet to compete for the Arctic seas that are opening up due to global warming. In the economy, the August jobs numbers were light at only 173,000, but August numbers are almost always adjusted higher later, and the stock market volatility continued ahead of the Fed rate hike decision.

In healthcare business news, Novartis’ (NVS) generic division Sandoz finally launched the first ever FDA-approved biosimilar drug called Zarxio, which competes with Amgen’s (AMGN) Neupogen (filgrastim). Allergan (AGN) acquired private AqueSys for their glaucoma shunt, and Bristol-Myers Squibb (BMY) bought the rights from Promedior for a fibrosis drug PRM-151 to treat idiopathic pulmonary fibrosis and myelofibrosis.

On the data front, The Medicine’s Company (MDCO) and Alnylam (ALNY) shares spiked on ESC data for cholesterol drug ALN-PCSsc, a PCSK9 pathway drug. Geron (GERN) was also up on data for telomerase drug imetelsat. Lastly, AMGN’s osteoporosis drug AMG-785 (romosozumab) succeeded in a Phase 3 superiority trial over Lilly’s (LLY) Forteo.

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