In general news, overseas, the U.S., France, and Britain sent cruise missiles into Syria targeting chemical weapons facilities. Also, China announced plans to lower import tariffs, making it easier for U.S. products to be sold into China, seemingly in response to President Trump’s plan create new tariffs on Chinese goods. In the U.S., tech-lash grew as Facebook founder mark Zuckerberg testified before congress about how the company sells personal data. In politics, Speaker of the House Paul Ryan announced that he was retiring. A fire broke out in Trump Tower on Fifth Avenue, killing one man, and Deputy Attorney General Rosenstein ordered a raid of Trump’s lawyer, Michael Cohen’s, offices, setting up a legal battle over attorney-client privilege.
In healthcare business news, Novartis (NVS) acquired AveXis (AVXS) for $9 Billion to obtain the AVXS-101 gene therapy to treat spinal muscular atrophy.
On the data front, VTV Therapeutics (VTVT) shares plunged on failed Alzheimer’s data.