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☆ A stock trader who returned 630% in 3 years shares 6 key signals he identifies before making a trade
▼ + stars: | 2023-07-01 | by ( Laila Maidan | ) www.businessinsider.com time to read: +8 min

For example, if a stock's price is below the VWAP, it may lure many traders into shorting it, he said. Since Sykes trades penny stocks with less trading volume, he uses indicators that help him determine whether his theses will play out. However, its importance is inferior to the above criteria because the catalyst could move a stock's price in either direction. On the morning of December 1, 2022, the stock's price plunged, creating a pattern he calls a morning panic. This trade fit Sykes' criteria because it had attention on it as a catalyst and created a pattern he trades.

Persons: Timothy Sykes, Sykes, Norman Zadeh, It's, they're, CLOW Organizations: Bollinger, United States, Nasdaq Locations: shorting

☆ Obesity drug Wegovy's popularity has US employers rethinking insurance coverage
▼ + stars: | 2023-06-27 | by ( Patrick Wingrove | ) www.reuters.com time to read: +6 min

[1/2] A selection of injector pens for the Saxenda weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. A new and more expensive version of the drug specifically for weight loss, called Wegovy, had been approved in 2021 by U.S. health regulators. Employers that cover weight-loss drugs have required medical practices to document patients’ need for Wegovy since it was approved. The federal Medicare healthcare program for Americans aged 65 and older cannot cover weight loss treatments by law. Only 16 states – the most populous being California, Pennsylvania and Michigan – cover Wegovy and other obesity drugs under their Medicaid plans for low-income patients.

Persons: Jim Vondruska, Shawnte, Aon, Mercer, Willis Towers Watson, Eli Lilly, Jeff Levin, Levin, Scherz, Michael Manolakis, William Yancy, Manolakis, Patrick Wingrove, Michele Gershberg, Suzanne Goldenberg Organizations: REUTERS, New, Warner Bros, Warner Bros Discovery Inc, Reuters, Marsh & McLennan, Employers, Barclays Research, Novo Nordisk, Duke University, Thomson Locations: Chicago , Illinois, U.S, New York, Marsh, Wegovy, California, Pennsylvania, Michigan

☆ A 20-year fund manager shares 8 mega-trend stocks he's betting will take market share — and the 5 he's shorting
▼ + stars: | 2023-06-23 | by ( Laila Maidan | ) www.businessinsider.com time to read: +8 min

Gary Black says the stock market will continue to trend higher with volatility this year. What the remainder of 2023 has in store for the stock market is anyone's guess at this point. But Gary Black, a 20-year fund manager, and the portfolio manager and managing partner at The Future Fund, has a more positive outlook. The next mega trend is big data and cyber security. mega trend losersOn the side of stocks being shorted, these are the companies that Black expects will lose market share due to these mega trends.

Persons: Gary Black, Phillip Wool, it's, Black, He's, cybertruck, Tesla, Elon Musk, Eli Lilly, Lilly, LULU, Armour Organizations: Federal, Federal Reserve, EV, Tesla, Company, Palo Alto Networks, Nvidia, Toyota, CNBC, Bloomberg, UA, MAX Holdings Locations: China's, overproducing

☆ Mark Cuban says healthcare has to have more of a 'Netflix model'
▼ + stars: | 2023-06-13 | by ( Vishal Persaud | ) www.businessinsider.com time to read: +3 min

Mark Cuban recently appeared on the a16z podcast "Bio Eats World" to talk about healthcare. Cuban believes healthcare systems need to adopt more of a "Netflix model" to "truly work." Mark Cuban has been disrupting healthcare with his low-cost online pharmacy, but there are other areas of the industry that can be improved upon too, he believes. Cuban believes that this model, in some ways, can also be applied to a local hospital or healthcare system. "If we're going to change healthcare," Cuban said.

Persons: Mark Cuban, Vijay Pande, Andreessen Organizations: Netflix, Dallas Mavericks, Cuban, Plus Locations: Cuban

☆ When will an RSV vaccine be available?
▼ + stars: | 2023-05-18 | by ( Katia Hetter | ) edition.cnn.com time to read: +6 min

CNN —The US Food and Drug Administration has approved a vaccine against the respiratory syncytial virus, or RSV, for adults 60 and older. Could the vaccine be available this winter, and how can people access it? The RSV vaccine specifically targets RSV. However, there is an RSV vaccine being developed by the drug company Pfizer that is being tested in pregnant women for the purpose of conveying protection to the infant. However, the FDA may not make a decision on when to make the vaccine available for pregnant people until this summer.

☆ With debt crisis looming, look to these names and sectors, Jim Cramer says
▼ + stars: | 2023-05-11 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Investors can look at the debt ceiling crisis of 2011 for guidance on where to invest as the nation contends with a similar stalemate and potential downturn, CNBC's Jim Cramer said Thursday. "We can buy the stocks of literally any drug company," Cramer said. Consumer products stocks also offer opportunities, Cramer continued. "I'd be thinking of Procter & Gamble ," he said, noting it held up during the 2011 debt downturn, and of Johnson & Johnson spinoff Kenvue. Alongside those names, Cramer believes that PepsiCo is a "fabulous performer," and that Mondelez and Hershey both offer strength among the food names.

☆ Martin Shkreli-founded drug company files for bankruptcy
▼ + stars: | 2023-05-10 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

Vyera said its bankruptcy was the result of declining profits, increased competition for generic drugs, and litigation alleging that Vyera suppressed competition for its most valuable drug, Daraprim. Daraprim is a life-saving anti-parasitic medicine that Shkreli infamously raised the price on by more than 4000% and worked to choke off generic competition for after the company acquired the drug in 2015. Vyera filed a Chapter 11 plan in court on Wednesday, laying out it its intent to repay creditors through asset sales. Vyera said that recently-sold vouchers have fetched prices between $95 million and $120 million in sales that have occurred since 2020. Vyera listed Duane Morris as its largest unsecured creditor in its bankruptcy filing, with a $2.1 million asserted debt.

☆ A drug company abandoned a treatment for ‘bubble boy disease.’ After a 5-year fight, this little girl is about to get it
▼ + stars: | 2023-04-27 | by ( Elizabeth Cohen Lauren Mascarenhas | Elizabeth Cohen | Lauren Mascarenhas | ) edition.cnn.com time to read: +29 min

The Sulacks weighed their options: Have a transplant with a match that was less than ideal – far less – or wait for gene therapy to become available. The news release didn’t say anything else about the SCID gene therapy. Or was the company abandoning its plans for SCID gene therapy altogether? In February, 2021, the parents of more than 20 children who were waiting for the gene therapy treatment, including the Sulacks, wrote a letter to Gaspar. Insurance companies have sometimes balked at paying for gene therapy, which is typically given in one treatment.

☆ How Joe Biden Can Win in 2024 - The New York Times
▼ + stars: | 2023-04-26 | by ( Lis Smith | ) www.nytimes.com time to read: +2 min

For months, Democrats have been frustrated with the gap between Mr. Biden’s accomplishments and the public’s awareness of them. The timing is right, because these programs are starting to have a big impact on the lives of many Americans. The administration says it has financed over 4,600 bridge repair and replacement projects across the country. Since his indictment by a Manhattan grand jury, his grip on the party, at least based on recent polling evidence, has grown tighter. That may be good news for his campaign, but he has significant vulnerabilities in a general election.

Citi is bullish on Merck , saying that the company's drug pipeline is underappreciated by the market. The exclusive license and collaboration agreement for ADC development helps Merck in developing more cancer treatment drugs — and Citi thinks it could rival its competitors' offerings. Citi anticipates further upside for Merck shares from the Inflation Reduction Act. To be sure, Baum noted a key downside risk to his valuation is if the ADC pipeline disappoints. Further risks include lower-than-anticipated value share capture by the company's Melanoma treatment drug Keytruda, and a slowdown in its animal health business.

☆ Drug Company Leaders Condemn Ruling Invalidating F.D.A. Approval of Abortion Pill
▼ + stars: | 2023-04-10 | by ( Christina Jewett | ) www.nytimes.com time to read: +1 min

Senior executives of more than 250 pharmaceutical and biotech companies on Monday issued a scorching condemnation of a ruling by a federal judge that invalidated the Food and Drug Administration’s 23-year-old approval of the abortion pill mifepristone, and they called for the decision to be reversed. “The decision ignores decades of scientific evidence and legal precedent,” said the letter, which was signed by leaders of some of the industry’s most prominent companies, including Albert Bourla, chief executive of Pfizer, and Alisha Alaimo, president of Biogen. The ruling, by Judge Matthew J. Kacsmaryk of the U.S. District Court for the Northern District of Texas, “has set a precedent for diminishing F.D.A.’s authority over drug approvals, and in so doing, creates uncertainty for the entire biopharma industry,” the letter argues. The letter also said that pharmaceutical companies rely on the F.D.A.’s autonomy to bring products to market under a “reliable regulatory process for drug evaluation and approval.”

The Alzheimer's Association and the pharmaceutical industry say the drug companies are not directly involved in the campaign. But the Alzheimer's Association says patients simply don't have the time to spare. The agency did not address the Alzheimer's Association campaign. Association members have met 30 times with staffers for the state's 20 members of Congress, Ryan Schiff, the chapter's public policy manager, said. Spokespeople for all three companies said they do not work with the Association on its campaign to expand Medicare coverage of the drugs.

☆ Pfizer in Talks to Acquire Seagen in Deal Likely Valued at More Than $30 Billion
▼ + stars: | 2023-02-26 | by ( Jared S. Hopkins | Jonathan D. Rockoff | ) www.wsj.com time to read: 1 min

Pfizer, one of the world’s biggest pharmaceutical companies, is flush with cash. Pfizer Inc. is in talks to acquire biotech Seagen Inc., according to people familiar with the matter, the latest potential deal for a big drug company aimed at adding a promising class of targeted cancer therapies. The talks are at an early stage and there is no guarantee there will be a deal, the people said. A number of hurdles would need to be overcome, including the potential for a stringent antitrust review of any proposal. If there is a deal, it would be big: Seagen has a market value of some $30 billion and would be expected to command a premium over that.

☆ Martin Shkreli: I'm not in contempt over drug industry ban
▼ + stars: | 2023-02-10 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

The ban also included a $64.6 million civil fine, which Shkreli said he is "so far unable" to pay. He said he intended to comply fully with the ban and provide requested information. The FTC had accused Shkreli last month of failing to provide information about Druglike Inc, a company it said he formed last July. He also said Druglike and DL Software were "software companies creating professional software for chemists and physicists," and thus outside his pharmaceutical industry ban. U.S. District Judge Denise Cote, who imposed the ban and $64.6 million penalty, will decide the FTC contempt motion.

Much as he would have liked to significantly increase supplies, Biosca-Reig said he couldn't justify investing millions of euros in new production lines unless he was paid more for the generic drug to cover sharply rising costs. European generic drugmakers say the tender system and regulated prices have fuelled a race to the bottom, and European firms are being undercut by suppliers from Asia. BRUSSELS, WE HAVE A PROBLEMThe European Medicines Agency (EMA) and European Union lawmakers acknowledge there is a problem. Half the generic medicines sold in Spain are priced below 1.60 euros per box or bottle, the country's generics manufacturing association said. But companies with smaller market shares, such as Israel's Teva (TEVA.TA), which has 5% of the region's amoxicillin market according to Medicines for Europe, are constrained.

☆ Pfizer Expects Drop in Revenue as Vaccine Demand Wanes
▼ + stars: | 2023-01-31 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Pfizer touted 10 medicines or vaccines that generated more than $1 billion in revenue each. Pfizer Inc. expects revenue to drop by as much as a third in 2023 as demand for Covid-19 products continues to slump. The New York-based drug company said Tuesday that it is projecting revenue to be between $67 billion and $71 billion this year after jumping 23% to $100.3 billion in 2022. Stripping out Covid-19 products, Pfizer expects its 2023 top line to grow 7% to 9%.

☆ Billionaire Mark Cuban invested in digital-health's go-to pharmacy even though it struggled to keep up with orders from his drug-pricing company
▼ + stars: | 2023-01-25 | by ( Blake Dodge | ) www.businessinsider.com time to read: +3 min

Mark Cuban has invested in the online pharmacy Truepill, he confirmed to Insider. It works with Cuban's other healthcare bet Mark Cuban Cost Plus Drug Co.Mark Cuban's interest in breaking into the healthcare industry is heating up. In November, he backed the online pharmacy Truepill through its funding round, Cuban confirmed to Insider in an email. He's played an active role in his drug-pricing startup, which launched as the Mark Cuban Cost Plus Drug Co. in 2021. When asked about the delays, Cuban said Cost Plus Drugs' volume exceeded both companies' expectations.

☆ 16 breakout stocks are forming the bullish golden cross chart pattern
▼ + stars: | 2023-01-23 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

The names are forming a "golden cross" pattern, which is when the 50-day moving average crosses above the 200-day moving average. Its 50-day moving average is 6% above its 200-day moving average. Another solar company, First Solar , also made the list, with its 50-day moving average 18% higher than its 200-day moving average. Its 50-day moving average is 10% above its 200-day moving average. The company's 50-day moving average is 9% above its 200-day moving average.

☆ FTC calls for Martin Shkreli to be held in contempt of court for forming new drug company
▼ + stars: | 2023-01-20 | by ( Dan Mangan | Dan Mangan Is A Reporter Covering Health Care For Cnbc.Com. | Mangan Has Been A Journalist For More Than Years | ) www.nbcnews.com time to read: +2 min

The Federal Trade Commission on Friday asked that notorious “pharma bro” Martin Shkreli be held in contempt of court for forming a new drug company in violation of a judge’s ban on the convicted fraudster from working in the pharmaceuticals industry. Shkreli, who was released from prison last year, in February was banned “for life from directly or indirectly participating in any manner in the pharmaceutical industry” as a result of the FTC’s antitrust lawsuit against him and a prior drug company that he founded. That order stemmed from Manhattan federal court Judge Denise Cote’s ruling that Shkreli oversaw an illegal scheme to maintain a monopoly on the life-saving drug Daraprim, which continued even as he saw in prison for his conviction in an unrelated securities fraud case. “Martin Shkreli’s failure to comply with the court’s order demonstrates a clear disregard for the law,” said Holly Vedova, director of the FTC’s Bureau of Competition, in a statement. “The FTC will not hesitate to deploy the full scope of its authorities to enable a comprehensive investigation into any potential misconduct,” Vedova said.

☆ Billionaire Mark Cuban has invested in yet another healthcare company: online pharmacy Truepill
▼ + stars: | 2023-01-20 | by ( Blake Dodge | ) www.businessinsider.com time to read: +3 min

Mark Cuban has invested in the online pharmacy Truepill, he confirmed to Insider. Truepill works with healthcare startups to send medications through the mail. It works with Cuban's other healthcare bet Mark Cuban Cost Plus Drug Co.Mark Cuban's interest in breaking into the healthcare industry is heating up. In November, he backed the online pharmacy Truepill through its funding round, Cuban confirmed to Insider in an email. He's played an active role in his drug-pricing startup, which launched as the Mark Cuban Cost Plus Drug Co. in 2021.

☆ FTC asks judge to hold 'pharma bro' Martin Shkreli in contempt of court for forming new drug firm
▼ + stars: | 2023-01-20 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

The Federal Trade Commission on Friday asked that notorious "pharma bro" Martin Shkreli be held in contempt of court for forming a new drug company in violation of a judge's ban on the convicted fraudster from working in the pharmaceuticals industry. In its court filing Friday, the FTC noted that Shkreli in July announced the formation of a new company, Druglike, "that appears to be involved in the drug industry." The FTC said Shkreli is required by Cote's order to provide the agency with that information. Benjamin Brafman, a lawyer for Shkreli, declined to comment on the FTC filing. Shkreli was driven back to New York from his prison in Pennsylvania by a friend, Edmund Sullivan, who had previously served on the board of Retrophin.

☆ FTC calls on federal court to hold ‘pharma bro’ Martin Shkreli in contempt
▼ + stars: | 2023-01-20 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

Washington CNN —The Federal Trade Commission on Friday called for a federal court to hold “Pharma Bro” Martin Shkreli in contempt after Shkreli allegedly flouted a recent FTC investigation into his business dealings and failed to make a $64.6 million payment he owed for his prior wrongdoings. The FTC’s contempt motion follows what the agency described as its an unsuccessful attempt to verify whether Shkreli has violated a court order barring him from ever working in the pharmaceutical industry again. Shkreli also infamously raised prices for the life-saving medication Daraprim by 4,000% while he was head of Turing Pharmaceuticals. When the FTC emailed Shkreli to get documents from him and to schedule an interview about the matter, Shkreli repeatedly missed deadlines and allegedly slow-walked his responses, according to an FTC court filing Friday. The FTC also said Shkreli had been ordered to make his multimillion-dollar payment — representing a refund of his ill-gotten Daraprim gains — by March 6, 2022.

☆ U.S. asks judge to hold Shkreli in contempt for allegedly flouting pharma industry ban -filing
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] Former drug company executive Martin Shkreli exits U.S. District Court after being convicted of securities fraud, in the Brooklyn borough of New York City, U.S., August 4, 2017. REUTERS/Carlo AllegriWASHINGTON, Jan 20 (Reuters) - The U.S. Federal Trade Commission (FTC) asked a federal judge on Friday to hold Martin Shkreli in contempt for allegedly impeding its efforts to determine whether he flouted a ban on working in the pharmaceutical industry. Shkreli was released early from prison last May. U.S. District Judge Denise Cote imposed the lifetime drug industry ban and $64.6 million penalty last February, related to Shkreli's efforts to keep generic Daraprim rivals off the market. Reporting by Diane Bartz and Jon Stempel; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ Former CEO says Biogen 'shot themselves in the foot' by deciding to charge $56,000 for its controversial Alzheimer's drug
▼ + stars: | 2023-01-18 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +5 min

Former Biogen CEO George Scangos said the biotech priced its Alzheimer's drug Aduhelm too high. After the FDA approved the controversial treatment in 2021, Biogen set a $56,000 list price. "They shot themselves in the foot with the pricing," Scangos, now CEO of Vir Biotechnology, said. SAN FRANCISCO — The former CEO of Biogen told Insider the Massachusetts biotech priced its controversial Alzheimer's drug, Aduhelm, "way too high." "I think Aduhelm works.

☆ Novartis' CEO is charging ahead in cutting tens of thousands of workers to transform the $220 billion pharma giant
▼ + stars: | 2023-01-16 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +3 min

Novartis is laying off thousands of workers, CEO Vasant Narasimhan told Insider. Through layoffs and spinoffs, the Swiss giant expects to trim its headcount by about 30% by 2024. SAN FRANCISCO — Thousands of layoffs are "happening now," Vasant Narasimhan, the CEO of Novartis, told Insider, as he hopes the $220 billion Swiss giant is entering the final steps of becoming a smaller, more-focused drug company. The Swiss giant had about 125,000 full-time employees at the time, and it has about 108,000 workers today. The restructuring will save Novartis about $1.5 billion annually, Narasimhan said during his Monday presentation at the JPMorgan conference.

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