In general news, the package bomber terrorist in Austin, Texas was identified by police, then killed himself with a bomb. The Facebook scandal, whereby their business model of selling personal information of users was exposed, led to Elon Musk and others deleting their Facebook pages. In politics, large rallies in major cities showcased tens of thousands of high school students protesting against gun violence. From the Executive Branch, President Trump was busy again, replacing the National Security Advisor with John Bolton, raising tariffs in other Chinese exports, and signing a $1.3 Trillion federal budget, angering fiscal conservatives. Meanwhile, The Fed raised rates. All of this led to the stock markets selling off.
In healthcare business news, the Trump administration might sue pharmaceutical companies that produce opioids. Shares of Endo International (ENDP), Depomed
On the data front, Arena (ARNA) shares spiked on good data for ulcerative colitis drug etrasimod. Heron’s (HRTX) post-operative anesthetic drug succeeded. Roche’s Tecentriq reduced mortality in lung cancer. Finally, AbbVie (ABBV) shares fell on failed trial results for Rova-T for lung cancer.
From the FDA, Seattle Genetics’ (SGEN) Vedotin was approved for Hodgkin’s Disease lymphoma. Also, the FDA plans to regulate ingredients used by bulk compounding pharmacies. And in other regulatory news, a new Director of the CDC was chosen, Robert Redfield, MD.