In the general news, the Zika virus became a reality in the states as a baby with microcephaly was born in New Jersey. In the economy, May added a paltry 38,000 jobs, which was the worst month in 6-years. Now, the June rate hike by the Fed could be postponed. Lastly, Muhammad Ali died.
In healthcare business news, UnitedHealth (UNH) exited the business of Obamacare exchanges in all but six states. Jazz Pharmaceuticals (JAZZ) plans to buy Celator (CPXX) for $1.5 B, and Medtronic (MDT) posted good earnings.
On the data front, Mylan’s (MYL) biosimilar to Roche’s Herceptin was deemed bioequivalent. From ASCO, a slew of data was released.
From the FDA, Intercept’s (ICPT) Ocaliva was approved to treat rare primary biliary cholangitis. Lastly, shares of Sarepta (SRPT) tanked when it was realized that the FDA will not allow the drug eteplirsen to be priced at more than cost if it is approved for compassionate use.