In general news, the stock markets sold off Monday after President Trump announced strong tariffs on all Chinese imports, but then rebounded throughout the week. In the Deep South, Alabama and Missouri banned abortion, intentionally wanting the laws to end up in the Supreme Court. In Politics, US AG Barr appointed the US Attorney in Connecticut, John Durham, to prosecute the Obama DOJ and spy agency stooges who attempted a coup on Trump. In sports, Brooks Koepka won his third major title within the last 12-months.
In healthcare news, several states are suing drugmakers accusing them of colluding to fix the price of drugs.
On the data front, ASCO data was the main story. MorphoSys (MOR) posted data on its anti-CD-19 drug. AbbVie (ABBV) failed with its brain cancer drug. MacroGenics (MGNX) met endpoints on drug margetuximab in HER2-positive metastatic breast cancer. Also, Amgen’s (AMGN) bispecific T cell engager (BiTE) drugs continued to succeed, as a new class of drugs. Bispecifics allow the immune system to find and destroy cancer by binding to both a target and a T cell.
Meanwhile, all of the clinical data seem less and less important given that the lobbyists have successfully corrupted the FDA. A report found that half of all new drugs approved had only one clinical trial.