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☆ AT&T and more: CNBC's 'Halftime Report' traders answer your questions
▼ + stars: | 2023-08-24 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

On Thursday's "Ask Halftime," traders answered questions from CNBC Pro subscribers about which stocks to buy, hold or sell right now. Jenny Harrington of Gilman Hill Asset Management discussed why she sold AT & T and will be looking to buy it back in the future. Cerity Partners' Jim Lebenthal shared why he thinks Bristol-Myers Squibb is a good long-term hold.

Persons: Jenny Harrington, Cerity, Jim Lebenthal, Myers Squibb Organizations: CNBC Pro, Management, Cerity Partners Locations: Bristol

☆ A couple bought an abandoned farm in Portugal for $103,000 and turned it into an off-the-grid homestead where they're raising 2 small kids — see how they did it
▼ + stars: | 2023-08-23 | by ( Amanda Goh | ) www.businessinsider.com time to read: +15 min

A couple moved from the UK to Portugal to live on an abandoned farm they bought for $103,000. The couple moved from the UK to Portugal to restore and live on an abandoned farm. The couple fell in love with the second property they viewed — an abandoned farm set on three acres of land. The couple — who were living and traveling around in a van at that time — bought the farm for 95,000 euros, or about $103,000. The Newbys have been documenting every step of their Portuguese farm renovation on their YouTube channel.

Persons: Tara Newby, They've, Tara, —, Sawyer, John, we've, Portugal's, John said, who've, they've, you'll, We've Organizations: Service, YouTube, Google Locations: Portugal, Wall, Silicon, Lisbon, England, Bristol, Zimbabwe, Tanzania, Antarctica, Europe

☆ Explainer: Cambodia's new leader Hun Manet, strongman or reformer?
▼ + stars: | 2023-08-22 | by ( Martin Petty | ) www.reuters.com time to read: +5 min

Hun Manet, nominee for Cambodia's prime minister, gestures as he registers at the National Assembly on the day that parliament votes to confirm the country's next prime minister, in Phnom Penh, Cambodia, August 22, 2023. The eldest of Hun Sen's five children, Hun Manet was born in 1977 in rural Cambodia. Hun Manet is married to Pich Chanmony, the daughter of a prominent Cambodian politician and has three children. In late 2021, Hun Sen declared Hun Manet his anointed successor and he was later endorsed by the CPP as "future prime minister". WHAT KIND OF LEADER WILL HUN MANET BE?

Persons: Hun Manet, Cindy Liu, Hun Sen, Will Hun Manet, Hun Sen's, Manet, Pich Chanmony, HUN MANET, Michael Perry Organizations: National Assembly, REUTERS, New York University, Britain's Bristol University, Cambodian People's Party, CPP, U.S ., ASEAN Business Council, Reuters, Thomson Locations: Phnom Penh, Cambodia, Cambodian, United States, Britain, China, U.S, New York

☆ Cambodia parliament endorses strongman's son Hun Manet as new PM
▼ + stars: | 2023-08-22 | by ( Prak Chan Thul | ) www.reuters.com time to read: +1 min

[1/3] Hun Manet, nominee for Cambodia's prime minister, walks on the day that parliament votes to confirm the country's next prime minister, in Phnom Penh, Cambodia, August 22, 2023. REUTERS/Cindy Liu Acquire Licensing RightsPHNOM PENH, Aug 22 (Reuters) - Cambodia's newly elected parliament endorsed military general Hun Manet as prime minister on Tuesday, completing a historic transfer of power in a fast-changing country led by his father for nearly four decades. The Western-educated Hun Manet, 45, had the backing of the majority of the National Assembly in proceedings screened live on television. His father, Hun Sen, a former Khmer Rouge guerrilla and self-style strongman, has pledged to remain in politics in other roles for at least a decade. Little is known about Hun Manet's vision for Cambodia, a country of 16 million people, few of whom have lived under a leader other than his father.

Persons: Hun Manet, Cindy Liu, Hun Sen, Hun Manet's, Martin Petty, Stephen Coates Organizations: REUTERS, National Assembly, New York University, Britain's Bristol University, Thomson Locations: Phnom Penh, Cambodia, PHNOM PENH, Khmer Rouge, United States

☆ Asking prices for UK homes drop sharply - Rightmove
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Toby Melville/File photo Acquire Licensing RightsLONDON, Aug 21 (Reuters) - Asking prices for homes in Britain fell sharply this month as rising mortgage costs caused sellers to lower their expectations of what they can get for their properties, an industry survey showed on Monday. Website Rightmove said average asking prices for homes dropped by 1.9%, the biggest monthly fall for August since 2018 and twice as steep as the usual summertime fall. Mortgage lenders Nationwide and Halifax both previously reported falls in selling prices in July. Rightmove's survey also showed the number of home sales was down 15% compared with 2019, before the pandemic. Average asking prices for homes were 2% below their peak in May but, reflecting the surge in demand during the pandemic, remained 19% higher than in August 2019, Rightmove said.

Persons: Toby Melville, Rightmove, William Schomberg, Suban Abdulla Organizations: REUTERS, Bank of England, Nationwide, Halifax, Homes, Thomson Locations: Bristol, Britain

☆ Virgin Galactic’s first space tourists had a ‘surreal experience’
▼ + stars: | 2023-08-12 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

Billionaire Richard Branson founded Virgin Galactic in 2004, and it built up a backlog of 800 paying passengers. Andres Leighton/APVirgin Galactic’s rocket-powered space plane carried its first group of tourists on a brief trip Thursday. Entrepreneur and health and wellness coach Keisha Schahaff and her daughter Anastatia Mayers were the first space travelers from Antigua. The skull’s lower jaw has particularly confounded scientists because it combines features of Homo sapiens and another ancient human relative — the mysterious Denisovans. ConsequencesA close-up shot reveals the details of the ancient moss Takakia growing on the Tibetan Plateau.

Persons: Richard Branson, Jon Goodwin, Anastatia Mayers, Keisha Schahaff, Andres Leighton, Mayers, Goodwin, Xuedong Li, Hupehsuchus nanchangensis, Shu, Long Cheng, James Webb, Ashley Strickland, Katie Hunt Organizations: CNN, Virgin Galactic, AP Virgin Galactic’s, International Whaling Commission, Wuhan Center, China Geological Survey, University of Bristol, James Webb Space, CNN Space, Science Locations: Antigua, Russia, India, China, Tibetan, Wuhan, Egypt, Thailand, Switzerland

☆ Hot air balloons over Bristol
▼ + stars: | 2023-08-11 | by ( Dave Lucas | ) www.reuters.com time to read: 1 min

South Korea evacuated the majority of teenage scouts from their campsite ahead of an approaching typhoon, the latest disruption to the World Scout Jamboree which has been marred by illness and criticism of its organization and facilities.

Locations: Korea

☆ These 10 medications are likely targets for Medicare price negotiations this fall
▼ + stars: | 2023-08-10 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Though it is still unclear which 10 drugs Medicare will select, several pharmaceutical companies have already revealed in court filings that they expect four of their blockbuster medications to be targeted. Bristol-Myers Squibb and Johnson & Johnson , in separate filings, said their blood thinners Eliquis and Xarelto will be subject to the negotiations this year. The list price of Januvia has surged 275% since 2006, according to the AARP. Johnson & Johnson reported $2.47 billion in revenue from Xarelto. "More and more people face cost-sharing that is directly affected by drug price increases," Leigh Purvis, who analyzes health-care costs for AARP, told reporters on a call Thursday.

Persons: Daniel Acker, Merck, Johnson, Abbvie, Imbruvica, Jardiance, Boehringer Ingelheim, Amgen Symbicort, Pfizer Xtandi, Breo, Biden, Januvia, Eliquis, Xarelto, Leigh Purvis Organizations: Merck, Co, Inc, Bloomberg, Getty, Medicare, Services, Myers Squibb, Johnson, Pharmacy, AstraZeneca Ibrance, Pfizer, Astellas Pharma, GSK, AARP, Bristol Myers Squibb, Jama Network, Industry Locations: Bristol, U.S, Januvia, Xarelto

☆ Final Trades: Bristol Myers, Toast & more
▼ + stars: | 2023-08-10 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: Bristol Myers, Toast & moreThe "Halftime Report" traders give their top picks to watch for the second half.

Persons: Bristol Myers Organizations: Bristol

☆ New fossils reveal specialized eating technique of unusual ancient marine reptile
▼ + stars: | 2023-08-08 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

CNN —An unusual ancient marine reptile may have gulped down tons of shrimplike prey using a feeding technique similar to one used by some modern whales. Fang et al/Courtesy University of BristolBut there hasn’t been much evidence in the fossil record for ancient reptiles using filter feeding, until now. These structures are similar to what’s seen in baleen whales, which have strips of keratin instead of teeth. “Baleen whales have grooves along the jaws to support curtains of baleen, long thin strips of keratin, the protein that makes hair, feathers and fingernails. It’s possible that the marine reptile didn’t start out with this ability.

Persons: Hupehsuchus nanchangensis, ”, Long Cheng, et, Li Tian, Hupehsuchus, Zichen Fang, Michael Benton, It’s Organizations: CNN, BMC, Wuhan Center, China Geological Survey, University of Bristol, China University of Geosciences, University of Bristol’s School of Earth Sciences Locations: China, Hubei province, China University of Geosciences Wuhan

☆ Long before whales, pioneering marine reptile was a filter-feeder
▼ + stars: | 2023-08-08 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

Artist's reconstruction shows the Triassic Period marine reptile Hupehsuchus nanchangensis, based on fossils unearthed in China's Hubei Province. Hupehsuchus is believed to have been a filter-feeder, akin to some of today's baleen whales. "Baleen whales are mammals and Hupehsuchus are reptiles. Marine reptiles asserted themselves. Two other ancient marine reptiles - Paludidraco, which lived about 230 million years ago, and Morturneria, which lived about 70 million years ago - appear to have used some type of filter-feeding.

Persons: Shi Shunyi, Long Cheng, Handout, Hupehsuchus, Mike Benton, Cheng, Will Dunham, Rosalba O'Brien Organizations: REUTERS, University of Bristol, BMC, Wuhan Center, China Geological Survey, Hupehsuchus, Thomson Locations: Hubei Province, Hupehsuchus, England, Siberia, Washington

☆ Focus: Drugmakers go under the skin, skirting early US Medicare price negotiations
▼ + stars: | 2023-07-28 | by ( Michael Erman | ) www.reuters.com time to read: +5 min

Each year, Medicare will add more drugs to the list, the names of which have not yet been disclosed. Faspro, launched in 2020, already accounts for more than 80% of Darzalex revenue, which is due to rise to $9.5 billion this year. Merck previously told Reuters it expects this version of Keytruda could replace the more time consuming infusion for most patients. Keytruda revenue is expected to top $24 billion this year and could exceed $30 billion as soon as 2026, according to analyst estimates. The company has said its expects revenue from subcutaneous drugs containing hyaluronidase to drive its growth going forward.

Persons: Srdjan, Johnson, drugmakers, Bristol Myers, Roche, Biden’s, Michael DiFiore, DiFiore, Joseph Wolk, Faspro, Halozyme, Helen Torley, hyaluronidase, Michael Erman, Patrick Wingrove, Caroline Humer, Bill Berkrot Organizations: U.S, REUTERS, Wall Street, Merck & Co, Halozyme Therapeutics, Reuters, Bristol, Bristol Myers Squibb, Medicare, U.S . Centers, Medicaid Services, J, Reuters Graphics Merck, Merck, Thomson Locations: Ljubljana, Darzalex, Diego

☆ Morning Bid: ECB to follow Fed hike, Meta surges
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +5 min

Fed Chair Jerome Powell remained equivocal about whether there was one more policy rate rise left this year and said Fed staff were no longer forecasting a recession - but futures markets continue to see a less than 50% chance of another move. Global stocks (.MIWD00000PUS) hit their highest since April last year on Thursday, with European stocks up more than 1% ahead of the ECB decision. The euro pushed higher against a softer dollar ahead of the announcement and press conference from ECB chief Christine Lagarde. The yen also firmed as the Bank of Japan is expected to keep its easy policy unchanged on Friday. The euro zone's biggest bank BNP Paribas (BNPP.PA), by contrast, beat Q2 estimates and the stock jumped 4%.

Persons: Mike Dolan, Meta, Jerome Powell, Dow Jones, Christine Lagarde, Willis Towers Watson, Giorgia Meloni, Joe Biden, Toby Chopra Organizations: Federal Reserve, European Central Bank, Fed, Treasury, Boeing, Dow, Wall, ECB, Bank of, Shell, Barclays, BNP, Central Bank, Intel, Ford, Boston Scientific, Myers Squibb, Honeywell, Xcel, Eastman Chemical, Pentair, Mastercard, P Global, Hershey, Digital Realty, Northrop Grumman, Weyerhaeuser, Cincinatti, Verisign, Comcast, Southwest Airlines, HCA, . Federal Reserve Board, Washington Reuters Graphics Reuters, Reuters, Exxon, Chevron, Thomson Locations: U.S, Bank of Japan, Asia, Hong Kong, China, Abbvie, Bristol, Edison, Kansas, Basel III, Washington

☆ New research on Facebook shows the algorithm isn't entirely to blame for political polarization
▼ + stars: | 2023-07-27 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +6 min

For all the blame Facebook has received for fostering extreme political polarization on its ubiquitous apps, new research suggests that the problem may not strictly be a function of the algorithm. Doing so during the three-month period, "did not significantly alter levels of issue polarization, affective polarization, political knowledge, or other key attitudes," the authors wrote. When altering the kind of content these Facebook users were receiving to presumably make it more diverse, they found that the change didn't alter users' views. "However, the data clearly indicate that Facebook users are much more likely to see content from like-minded sources than they are to see content from cross-cutting sources." The polarization problem exists on Facebook, the researchers all agree, but the question is whether the algorithm is intensifying the matter.

Persons: Meta, Holden Thorp, Science's, Thorp, Nick Clegg, Clegg, Stephan Lewandowsky, Lewandowsky, Susan Li Organizations: Facebook, Nature, Princeton University, Dartmouth College, University of Texas, Meta, University of Bristol Locations: U.S

☆ What we hope to see from 9 Club stocks out with earnings in the week ahead
▼ + stars: | 2023-07-22 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

Looking to next week, earnings season will ramp up — and though we'll get some important economic data, expect the corporate releases and management commentary on the post-game calls to be firmly in the driver's seat. Here are two important things to know for the week ahead. Quarterly earnings : As important as economic releases are, it's earnings that will garner the bulk of investors' attention. For those looking to review first-quarter performance ahead of these releases, keep our first-quarter earnings report card handy. Here's the full rundown of all the important domestic data in the week ahead.

Persons: Dow, we'll, we've, Lawrence Yun, Jerome Powell's, Sartorius, Sartorius preannounced, It's, management's, We'll, Tesla, Ford's, Sherwin, Williams, Archer, Clark, Lam, Edwards Lifesciences, Hewlett, Northrop, Dr Pepper, Davidson, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Economic, National Association of Realtors, Nine, GE Healthcare, Microsoft, YouTube, Linde, LIN, Honeywell, Aerospace, Technologies, Ford, Procter & Gamble, Dynex, HBT, Hope Bancorp, NXP Semiconductors, Cadence Design Systems, Whirlpool, Logitech International, Liberty Global, Verizon Communications, General Motors, General Electric, GE, Spotify, Raytheon Technologies, Daniels, Midland, Albertsons Companies, ACI, Polaris Industries, Inc, Dow Chemical, DOW, Xerox, Texas Instruments, WM, Canadian National Railway Company, Chubb Corporation, Universal Health Services, Powell, Boeing, Hilton, Union Pacific, General Dynamics, Quest Diagnostics, Otis Worldwide, Grill, Lam Research, eBay, EBAY, Mattel, Hewlett Packard, L3Harris Technologies, Gross, Royal Caribbean Cruises, Southwest Airlines, Mastercard, Myers Squibb, Northrop Grumman, Hertz, Tractor Supply Company, HCA Healthcare, Boston, Hershey, Comcast, Harley, Norfolk Southern, Intel, Mobile, United States Steel Corp, KLA Corporation, Boston Beer Company, Nation Entertainment, Texas, Procter, Gamble, Exxon Mobil, Chevron, Charter Communications, AstraZeneca, Colgate, Palmolive, Newell Brands, Sanofi, Dwight, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: U.S, Hollywood, Cleveland, Corning, Kimberly, Bristol, Norfolk

☆ Cambodia holds lopsided election before historic transfer of power
▼ + stars: | 2023-07-22 | by ( Prak Chan Thul | ) www.reuters.com time to read: +5 min

He needs to win a National Assembly seat to become prime minister, which is likely. Analysts had expected the transition to come mid-term, giving time for Hun Manet to earn legitimacy with the public and political elite. "As long as Hun Sen is around, nobody will move against Hun Manet." [1/3]Hun Manet, son of Cambodia's Prime Minister Hun Sen, speaks during the final Cambodian People's Party (CPP) election campaign for the upcoming general election in Phnom Penh, Cambodia, July 21, 2023. Some did that on Sunday, posting pictures on social media of spoiled ballots, some with writing that disparaged Hun Sen, calling him a coward.

Persons: Hun Manet, Hun Sen's, Hun Sen, I've, Gordon Conochie, Cambodia's, Cindy Liu Hun Manet, Sam Rainsy, Freshnews, Nin Sinath, Hun, Prak Chan Thul, Chantha Lach, Martin Petty, Robert Birsel, William Mallard Organizations: Hun Sen's Cambodian People's Party, Former Khmer Rouge, National Assembly, La Trobe University, Cambodian People's Party, REUTERS, New York University, University of Bristol, Candlelight Party, Thomson Locations: PHNOM PENH, Former, Cambodia, Phnom Penh, China, United States

☆ Cambodia holds lopsided election ahead of historic transfer of power
▼ + stars: | 2023-07-22 | by ( Prak Chan Thul | ) www.reuters.com time to read: +4 min

Hun Manet, 45, needs to win a National Assembly seat to become prime minister, which he is expected to do in Sunday's general election. Analysts had expected the transition to come mid-term, giving time for Hun Manet to earn legitimacy with the public and political elite. "The reality is that as long as Hun Sen is around, nobody will move against Hun Manet." Hun Manet has given few media interviews and no clues over his vision for Cambodia and its 16 million people. 'PEACE NOT WAR'[1/3]Hun Manet, son of Cambodia's Prime Minister Hun Sen, speaks during the final Cambodian People's Party (CPP) election campaign for the upcoming general election in Phnom Penh, Cambodia, July 21, 2023.

Persons: Hun Sen's, Hun Sen, Hun Manet, Gordon Conochie, Cambodia's, Cindy Liu, Sam Rainsy, Conochie, Chantha Lach, Martin Petty, Robert Birsel Organizations: Hun Sen's Cambodian People's Party, Former Khmer Rouge, National Assembly, La Trobe University, New York University, University of Bristol, Cambodian People's Party, REUTERS, Candlelight Party, Thomson Locations: PHNOM PENH, Cambodia, Phnom Penh, China, United States, Som, Bangkok

While global supply networks recover from the pandemic shock, fresh impetus is coming from tougher environmental standards, which drive companies to invest in new technologies to reduce their and their suppliers' emissions. "So in battery, steel, aluminum and cast iron we will only source green materials and technologies by 2030," Foller told Reuters. The foundation told Reuters it would also consider further investments in producers of steel, construction and green aluminium produced with hydropower or from recycled materials. Scania said that following its 10 million euro ($11.15 million) seed investment in H2GS in 2021, it has entered a steel supply agreement from 2027. While companies will keep investing in their suppliers in the short to medium term, the market will eventually reach saturation, said Jon Chadwick, global energy transition lead at PricewaterhouseCoopers.

Persons: Andreas Follér, Foller, Rebecca Campbell, China's, Scania's Foller, Britain's, They're, Maybel Saleh, Case's Campbell, Jon Chadwick, Clara Denina, Sarah McFarlane, Helen Reid, Veronica Brown, Tomasz Janowski Organizations: IKEA, Climate Tech VC, Scania, Reuters, White &, Export, GM, IMAS Foundation, Airlines, EMEA, Citi . Supply, Equity, PricewaterhouseCoopers, Thomson Locations: Ukraine, China, Russia, Beijing, Sweden, Swedish, H2GS, Norway, Germany, Indonesia, Britain, Bristol

☆ Cambodia leader Hun Sen is set to win another one-sided election
▼ + stars: | 2023-07-21 | by ( Heather Chen | ) edition.cnn.com time to read: +8 min

“The July 23 election is just a day for Hun Sen to impose (his choices) onto the Cambodian people,” she said. A former Khmer Rouge commander who switched sides, Hun Sen has ruled Cambodia for nearly four decades. But in more recent years Hun Sen has turned increasingly autocratic – quashing dissent and jailing critics, forcing many to flee overseas. ‘Future prime minister’Political watchers say this Cambodian election will set the stage for Hun Sen’s transition of power to his son Hun Manet. Hun Manet walks past an honour guard during a military ceremony in Phnom Penh on June 18, 2020.

Persons: Cambodia’s, Hun Sen, –, crackdowns, Hun Sen’s, ”, Mu Sochua, “, …, Bridget Welsh, “ Hun Sen, ” Kenneth Roth, Hun Manet, Tang Chin Sothy, Welsh, ” Hun Manet, Markus Karbaum, ” Karbaum, Phil Robertson, Sam Rainsy, CHARLY TWO, Rainsy, Hun, ” Rainsy, “ I’ve Organizations: CNN, Voters, Cambodian People’s Party, “, Women, Veterans ’ Affairs, ” CNN, Human Rights, ‘, Cambodian, US Military Academy, West, New York University, University of Bristol, Getty, Cambodian People's Party, Cambodian National Rescue Party, Party, Human Rights Watch, Facebook, Reuters Locations: Cameroon, Equatorial Guinea, Cambodian, Cambodia, Khmer, China, Phnom Penh, AFP, ”, Sunday’s, Asia

☆ Cambodia's long-serving leader says son can become PM in 3-4 weeks
▼ + stars: | 2023-07-21 | by ( Prak Chan Thul | ) www.reuters.com time to read: +1 min

[1/2] Hun Manet, son of Cambodia's Prime Minister Hun Sen, waves to people during the final Cambodian People's Party (CPP) election campaign for the upcoming general election in Phnom Penh, Cambodia, July 21, 2023. REUTERS/Cindy LiuPHNOM PENH, July 21 (Reuters) - Cambodia's long-serving leader Hun Sen has told a Chinese television station that his eldest son, Hun Manet, can become prime minister soon after Sunday's election. "In three or four weeks, Hun Manet can become the prime minister. It depends on whether Hun Manet will be able to do it or not," Hun Sen said in an interview with China's Phoenix TV aired on Thursday. His son, Hun Manet, is a candidate for the election, making his debut.

Persons: Hun Manet, Cambodia's, Hun Sen, Cindy Liu PHNOM, Sok Eysan, Ella Cao, Martin Petty, Andrew Heavens Organizations: Cambodian People's Party, REUTERS, China's Phoenix TV, University of Bristol, Thomson Locations: Phnom Penh, Cambodia, Cindy Liu PHNOM PENH, Khmer Rouge, United States

☆ Like strongman, like son? Cambodia's Hun Manet makes political debut
▼ + stars: | 2023-07-20 | by ( Clare Baldwin | ) www.reuters.com time to read: +6 min

[1/2] General Hun Manet, son of Cambodia's Prime Minister Hun Sen holds a party flag as he attends a kickoff of an election campaign rally for the upcoming national election in Phnom Penh, Cambodia, July 1, 2023. The political debut of Hun Manet, 45, marks one of the final steps in a decades-long grooming process that is expected to end with him succeeding his father as prime minister. For some, Hun Manet represents a young, fresh face who will further develop Cambodia. He recently hosted Hun Manet as an AmCham guest of honour. In 2019 and 2020, Hun Manet met three foreign leaders, the Lowy Institute think tank said.

Persons: Hun Manet, Cambodia's, Hun Sen, Cindy Liu, Hun, Anthony Galliano, Hun Manet's, liberalize, spokespeople, Hun Sen's, Sam Rainsy, feudalistic, Manet, Lee Morgenbesser, he's, Morgenbesser, I've, –, Clare Baldwin, Kay Johnson, Robert Birsel Organizations: REUTERS, Cambodian, Cambodia People's Party, National Assembly, Cambodia, ASEAN Parliamentarians, Human Rights, Reuters, U.S, New York University, University of Bristol, ABC, Griffith University, Royal Cambodian Armed Forces, Lowy Institute, Thomson Locations: Phnom Penh, Cambodia, Thai, West, Southeast Asia, Western

July 18 (Reuters) - Johnson & Johnson (JNJ.N) sued the U.S. government on Tuesday, becoming the latest drugmaker seeking to block a program that gives the Medicare government health insurance plan the power to negotiate lower drug prices. The pharmaceutical industry says the drug price negotiation program under President Joe Biden's signature Inflation Reduction Act law will curtail profits and compel drugmakers to curb development of groundbreaking new treatments. The U.S. Centers for Medicare and Medicaid Services (CMS) in September is expected to select the first 10 drugs to target for negotiations with settled prices set to take effect in 2026. The law is on our side," a spokesperson for the U.S. Department of Health and Human Services said in a statement. It broadly follows the other related lawsuits, arguing that the program is unconstitutional and amounts to "confiscation of constitutionally protected property."

Persons: Johnson, Joe Biden's, drugmakers, Biden, Janssen, Bhanvi, Michael Erman, Krishna Chandra Eluri, Susan Heavey Organizations: Johnson, U.S, drugmakers Bristol Myers Squibb, Merck & Co, U.S . Chamber of Commerce, Pharmaceutical Research, Manufacturers of America, Commerce, U.S . Centers, Medicare, Medicaid Services, U.S . Department of Health, Human Services, District of, Thomson Locations: U.S, District of New Jersey, Bengaluru, New Jersey

☆ Pfizer, Flagship Pioneering to invest $100 mln in drug discovery
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +2 min

July 18 (Reuters) - U.S. drugmaker Pfizer (PFE.N) and venture firm Flagship Pioneering on Tuesday said they would invest $100 million together to develop up to 10 new potential drugs for areas including internal medicine, oncology, infectious diseases and immunology. Flagship, which has incubated biotech companies, most famously Moderna Inc (MRNA.O), and Pfizer will each invest $50 million. Flagship's drug discovery initiative Pioneering Medicines will lead the exploration process. Paul Biondi, president of Flagship's Pioneering unit and a former top Bristol Myers Squibb (BMY.N) executive, said the partnership will take advantage of Flagship's abilities to develop novel technologies towards bigger disease areas. Drug developers such as Denali Therapeutics (DNLI.O), Foghorn Therapeutics (FHTX.O) and Sana Biotechnology (SANA.O) are some of the other companies backed by Flagship.

Persons: Paul Biondi, Biondi, Mikael Dolsten, Foghorn, Bhanvi, Michael Erman, Shilpi Majumdar, Alexandra Hudson Organizations: drugmaker Pfizer, Moderna Inc, Pfizer, Flagship's, Bristol Myers Squibb, Flagship, Therapeutics, Foghorn Therapeutics, Sana Biotechnology, Alexandra Hudson Our, Thomson Locations: Bengaluru, New Jersey

July 18 (Reuters) - Johnson & Johnson (JNJ.N) sued the U.S. government on Tuesday, becoming the latest drugmaker seeking to block enforcement of a program that gives Medicare the power to negotiate drug prices. The pharmaceutical industry says the drug price negotiation program that is part of President Joe Biden's signature Inflation Reduction Act (IRA) will curtail profits and compel them to pull back on developing groundbreaking new treatments. U.S. drugmakers Bristol Myers Squibb (BMY.N), Merck & Co (MRK.N) and the U.S. Chamber of Commerce as well as industry lobbies Pharmaceutical Research and Manufacturers of America have also sued the government over the plan. The Biden administration hopes to save $25 billion annually by 2031 by having Medicare, the government health plan for people 65 and over, negotiate prices for some of its costliest medicines. Reporting by Bhanvi Satija in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Johnson, Joe Biden's, Biden, Bhanvi, Krishna Chandra Organizations: Johnson, U.S, drugmakers Bristol Myers Squibb, Merck & Co, U.S . Chamber of Commerce, Pharmaceutical Research, Manufacturers of America, Thomson Locations: Bengaluru

☆ Johnson & Johnson sues Biden administration over Medicare drug price negotiations
▼ + stars: | 2023-07-18 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Johnson & Johnson on Tuesday sued the Biden administration over Medicare's new powers to slash drug prices, making it the third pharmaceutical company to challenge the controversial provision of the Inflation Reduction Act. The lawsuit filed in federal district court in New Jersey argues the Medicare negotiations violate the First and Fifth Amendments of the U.S. Constitution. J&J also argues that the new provision forces the company to agree that the federal government is negotiating fair drug prices. The company believes the provision doesn't involve true negotiations since the government "unilaterally dictates" drug prices. HHS said in a statement it will "vigorously defend the President's drug price negotiation law, which is already helping to lower health care costs for seniors and people with disabilities."

Persons: Johnson, drugmakers Merck, Joe Biden's, J, Xavier Becerra Organizations: Biden, U.S . Constitution, Bristol Myers Squibb, U.S . Chamber of Commerce, PhRMA, . Health, Human Services Department, Medicare, Services, HHS Locations: New Jersey, U.S ., United States, Xarelto

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