In the general news, after the Associated Press ran with a non-story proclaiming Hillary Clinton as being “presumptive nominee” the day before the California primary, which suppressed voter turnout, Hillary Clinton barely defeated Bernie Sanders in California. She lost in two other states, and tied in the rest of the contests. President Obama then endorsed Hillary Clinton, sort of.
In healthcare business news, Medtronic (MDT) announced that it plans to have its own robotic surgery device on the market by 2019. Also, Boston Scientific (BSX) announced restructuring to save $100 Million in costs.
On the data front, JNJ and Glaxo’s (GSK) rheumatoid arthritis drug, sirukumab, met endpoints. AbbVie (ABBV) shares fell after a cancer trial of Rova-T disappointed investors. ABBV paid $6 Billion to acquire the therapy from Stemcentrx. Alexion (ALXN) also posted bad data on Solirus (eculizumab) for refractory generalized myasthenia gravis, and Immunomedics (IMMU) had bad results on sacituzumab to treat breast cancer. Lastly, a study showed the ineffectiveness of antidepressants in the pediatric population.
From the FDA, Sarepta’s (SRPT) eteplirsen will require more data from 13 samples of tissue before the FDA decides, as the agency requested more data. Short covering sent shares higher. In other regulatory matters, the DOJ arrested a doctor tied to kickback schemes meant to increase prescriptions for deadly fentanyl made by Insys (INSY).