The Weekly Summary

April 24th – April 30th                                 2017

In general news, President Trump warned North Korea again after they test fired a missile. Domestically, he announced a general outline for his tax relief plan.

In healthcare business news, Edwards (EW) beat revenue estimates. Anthem (ANTM) also beat by charging more for Obamacare exchange plans. Lilly (LLY) beat as demand for new diabetes drug Trulicity was strong. Biogen (BIIB) reported strong revenue for spinal muscular atrophy drug Spinraza. Novartis (NVS) profit was down as Gleevec struggled. Express Scripts (ESRX) revenue declined in the wake of Anthem cutting ties. Finally, Fresnius (FRE) acquired generics company Akorn (AKRX) as well as Merck KGaA’s biosimilars business.

From the FDA, Novartis’ leukemia drug Rydapt was approved.

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