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☆ Pfizer CEO signs letter in support of FDA after federal judge suspends approval of abortion pill
  + stars: | 2023-04-10 | by ( Annika Kim Constantino | ) www.cnbc.com   time to read: +3 min
Pfizer 's CEO signed on to an industry letter in support of the Food and Drug Administration's authority to regulate drugs after a federal judge in Texas suspended the agency's approval of the abortion pill mifepristone. Albert Bourla was among the more than 200 pharmaceutical company executives who signed the letter after U.S. Judge Matthew Kacsmaryk's controversial ruling on Friday. Kacsmaryk sided with an anti-abortion group, arguing that the FDA rushed its approval process and violated federal standards. Kacsmaryk's decision conflicts with a ruling by a federal judge in Washington state. The dueling orders by two federal judges create a complicated legal standoff that could potentially escalate to the Supreme Court.
☆ China calls on Japan to correct chip export restrictions
  + stars: | 2023-04-04 | by ( ) www.reuters.com   time to read: 1 min
BEIJING, April 4 (Reuters) - China is seriously concerned about Japanese export restrictions on chip manufacturing equipment and called on it to correct its "wrong practice", the Chinese commerce ministry said on Tuesday. "China will take decisive measures to safeguard its rights and interests if Japan insists on obstructing the chip industry cooperation between the two countries," it said in a statement. Japan said last week it would restrict exports of 23 types of semiconductor manufacturing equipment, aligning its technology trade controls with a U.S. push to curb China's ability to make advanced chips. Reporting by Ella Cao and Meg Shen; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.
☆ Bill Gates' daughter reportedly paid $51 million for this NYC penthouse—it comes with 3,400 square feet of outdoor space
  + stars: | 2023-04-04 | by ( Celia Fernandez | ) www.cnbc.com   time to read: +2 min
Bill Gates' eldest daughter, Jennifer Gates, might now be calling a $51 million New York City penthouse home. 443 Greenwich Street is known for being home to other celebrities like Meg Ryan, and Blake Lively and Ryan Reynold. The penthouse apartment is 8,900 square feet and has a 3,400 square-foot outdoor space with a plunge pool. Gates' penthouse apartment is 8,900 square feet and has a 3,400 square-foot outdoor space. 443 Greenwich Street was designed with an indoor courtyard, which is rare for buildings in New York City.
☆ China to conduct cybersecurity review on chipmaker Micron's products
  + stars: | 2023-03-31 | by ( ) www.reuters.com   time to read: 1 min
BEIJING, March 31 (Reuters) - China's cyberspace regulator will conduct a cybersecurity review on products sold in China by U.S. memory chip manufacturer Micron Technology (MU.O), the regulator said on Friday. The move is aimed at protecting the security of the supply chain for critical information infrastructure, prevent hidden risks and safeguard national security, the Cyberspace Administration of China said in a brief statement. It gave no other details, including what Micron products it was reviewing. Shares in Micron fell 3.3% in pre-market trading after the announcement. Reporting by Ella Cao and Meg Shen Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.
☆ China to examine US chipmaker Micron's products for cybersecurity risks
  + stars: | 2023-03-31 | by ( ) www.reuters.com   time to read: +2 min
March 31 (Reuters) - China's cyberspace regulator will conduct a cybersecurity review of products sold in the country by U.S. memory chip manufacturer Micron Technology Inc (MU.O), the regulator said on Friday. It gave no other details, including which Micron products it was reviewing. The Netherlands, which makes advanced lithography equipment critical for the manufacture of advanced chips, made a similar announcement earlier this month. Weak consumer demand has roiled the memory chip market, which is dominated by South Korea's Samsung Electronics (005930.KS). The larger chunk of the company's products flowing into China are being purchased by non-Chinese firms for use in products manufactured in the country, according to analysts.
☆ How America's complex drug supply chain is creating vulnerability in the system
  + stars: | 2023-03-30 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow America's complex drug supply chain is creating vulnerability in the systemCNBC's Meg Tirrell joins 'Closing Bell Overtime' to discuss intensifying shortages in America for antibiotic prescriptions and generic drugs, the global consequences of local drug manufacturing disruptions, and the need for transparency in drug manufacturing.
☆ BYD downplays China price war impact after Q4 profit jumps
  + stars: | 2023-03-29 | by ( ) www.reuters.com   time to read: +2 min
HONG KONG/SHANGHAI, March 29 (Reuters) - Chinese electric vehicle (EV) giant BYD said on Wednesday it was large enough to shake off the impact of a bruising price war and faltering demand in China, after reporting an 11-fold increase in fourth-quarter profit. The strong result came as it extended its lead in the Chinese market, thanks to an expanding range of products that is helping it overtake Volkswagen (VOWG_p.DE) to become the top-selling brand. BYD accounted for 41% of so-called new energy car sales in the world's biggest auto market for the first two months of the year. The Chinese EV giant has been slowing output since the start of the year when Beijing ended a national subsidy programme for EVs and plug-in electric vehicles. ($1 = 6.8756 Chinese yuan renminbi)Reporting by Josh Ye, Zhang Yan, Ella Cao and Meg Shen; Editing by Jonathan Oatis, Angus MacSwan and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.
☆ Bridgebio shares surge on takeout target hopes
  + stars: | 2023-03-29 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBridgebio shares surge on takeout target hopesCNBC's Meg Tirrell joins 'Power Lunch' to report on Bridgebio's stock surge and pharma returns.
☆ Generic drugs are most likely to face shortages due to market failures in affordability
  + stars: | 2023-03-29 | by ( Meg Tirrell | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGeneric drugs are most likely to face shortages due to market failures in affordabilityCNBC's Meg Tirrell joins 'Closing Bell Overtime' to discuss growing pharmaceutical shortages, increasing debt hindering generic drug availability, and more.
☆ Shanghai exchange cancels Syngenta IPO hearing -filing
  + stars: | 2023-03-28 | by ( ) www.reuters.com   time to read: +1 min
HONG KONG, March 28 (Reuters) - The Shanghai Stock Exchange has cancelled a hearing to review Swiss agrichemicals and seeds group Syngenta's initial share offering (IPO) plan, a filing posted on the exchange showed. Syngenta, which planned to raise 65 billion yuan ($9.44 billion) in its Shanghai flotation, was bought for $43 billion by ChemChina in 2017 and folded into Sinochem Holdings Corp in 2021. The Shanghai exchange, which planned to conduct the hearing on Wednesday, did not provide a reason for the cancellation. Companies planning IPOs on the exchange need to appear before a panel for a hearing as a requirement for proceeding with their listing. ($1 = 6.8821 Chinese yuan renminbi)Reporting by Meg Shen and Twinnie Siu; editing by Jason Neely, Jane Merriman and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.
☆ Antibiotics in short supply: U.S. drug shortages hit record level
  + stars: | 2023-03-28 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAntibiotics in short supply: U.S. drug shortages hit record levelCNBC’s Meg Tirrell joins ‘Closing Bell: Overtime’ to report on why there's a shortage of antibiotics in the U.S.
☆ BYD posts 11-fold jump in Q4 profit -filing
  + stars: | 2023-03-28 | by ( ) www.reuters.com   time to read: +2 min
SHANGHAI/BEIJING, March 28 (Reuters) - Chinese electric vehicle giant BYD Co Ltd (002594.SZ) reported an 11-fold increase in fourth-quarter profit as it extended its lead in the domestic market with a wide range of products. Net profit for October-December came in at 7.3 billion yuan ($1.06 billion) versus 602 million yuan a year earlier. For the whole of 2022, net profit increased 446% to 16.6 billion yuan, said the company, which is 12% owned by Warren Buffett's Berkshire Hathaway (BRKa.N). Its battery installation volume ranked the second globally in Janaury with 17.6% market share, exceeding LG Energy Solutions, according to SNE Research. ($1 = 6.8756 Chinese yuan renminbi)Reporting by Zhang Yan, Ella Cao and Meg Shen; editing by Jason Neely, Jonathan Oatis and Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.
☆ China urges Apple to strengthen data security
  + stars: | 2023-03-28 | by ( ) www.reuters.com   time to read: 1 min
HONG KONG, March 28 (Reuters) - China has urged Apple (AAPL.O) to strengthen its data security and personal privacy protection, the country's state planner said in a statement on Tuesday. Chairman of National Development and Reform Commission Zheng Shanjie made the comments when he met Apple CEO Tim Cook on Monday, the statement said. Reporting by Ella Cao and Meg Shen, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.
☆ Antibiotics in short supply: U.S. drug shortages reach historic high
  + stars: | 2023-03-28 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAntibiotics in short supply: U.S. drug shortages reach historic highHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. CNBC's Meg Tirrell reports on the antibiotic shortage hitting the U.S.
☆ Regeneron's Dupixent shows promise as COPD treatment
  + stars: | 2023-03-23 | 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 EmailRegeneron's Dupixent shows promise as COPD treatmentCNBC's Meg Tirrell joins 'Closing Bell' to report that Regeneron's drug Dupixent has shown promise in treating COPD during phase 3 results.
☆ Sen. Bernie Sanders grills Moderna CEO over Covid vaccine prices during hearing
  + stars: | 2023-03-22 | 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 EmailSen. Bernie Sanders grills Moderna CEO over Covid vaccine prices during hearingCNBC's Meg Tirrell reports on the Senate hearing on drug prices, which featured an exchange between Sen. Bernie Sanders and Moderna CEO Stéphane Bancel.
☆ China fines Deloitte $31 mln for auditing negligence
  + stars: | 2023-03-18 | by ( ) www.reuters.com   time to read: +2 min
BEIJING, March 17 (Reuters) - China has fined auditing firm Deloitte 211.9 million yuan ($30.8 million) for failing to perform its duty in assessing the asset quality of China Huarong Asset Management Co Ltd (2799.HK), the finance ministry said on its website on Friday. Deloitte's Beijing operations also will be suspended for three months, the ministry said in a statement. Deloitte said it respects and accepts the ministry's decision, according to a statement published on its website. "We regret that, in this matter, the MOF considers certain aspects of our work fell below the required auditing standards," it said. In a separate statement, Huarong said the company and its seven subsidiaries had received a 100,000 yuan fine each.
☆ Independent bookstores once considered Barnes & Noble the enemy, but its CEO loves small bookstores so much, he owns 9 of his own
  + stars: | 2023-03-17 | by ( Avery Hartmans | ) www.businessinsider.com   time to read: +3 min
Barnes & Noble's CEO owns nine independent bookstores scattered throughout London. But back in the 1990s, the book retailer was considered the enemy of small bookstores everywhere. That was before Barnes & Noble went into decline — these days, it's in the midst of a revamp. Chains like Barnes & Noble were the enemy of anyone who truly loved books, according to the film. Daunt now oversees roughly 600 Barnes & Noble stores across the US, as well as 100 Paper Source stores and nearly 300 Waterstones shops in the UK and Europe, according to Barnes & Noble.
☆ SVB fallout: The impacts on the biotech sector
  + stars: | 2023-03-13 | by ( Meg Tirrell | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSVB fallout: The impacts on the biotech sectorCNBC's Meg Tirrell reports on how the SVB fallout could impact biotech investors.
☆ Chinese EV comptition hots up as BYD offers discounts
  + stars: | 2023-03-09 | by ( ) www.reuters.com   time to read: +1 min
[1/2] BYD electric vehicles (EV) are displayed at a car dealership in Shanghai, China, February 3, 2023. The discounts will be for buyers who place orders for the Song Plus and Seal models between March 10 and March 31, the company said on its social media account. In return for an 88 yuan ($12.64) deposit, buyers for a Seal EV can get 8,888 yuan deducted from the price, while for Song Plus models, the discount is 6,888 yuan. It sold 34,621 Song Plus SUVs and 14,372 Seal sedans in the first two months, according to China Passenger Car Association. The car association data showed Tesla (TSLA.O) sold 39,710 Model Ys and 21,056 Model 3s in January and February combined.
☆ New weight loss drugs will help tackle America's obesity epidemic, says Dr. Scott Gottlieb
  + stars: | 2023-03-07 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew weight loss drugs will help tackle America's obesity epidemic, says Dr. Scott GottliebDr. Scott Gottlieb, former FDA commissioner, and CNBC's Meg Tirrell join 'Power Lunch' to discuss WeightWatchers upcoming telehealth deal, new weight loss drugs coming to market and regulatory considerations associated with long-term medicine use.
☆ WW International CEO on weight loss drugs: Still critical you make the right lifestyle changes
  + stars: | 2023-03-07 | 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 EmailWW International CEO on weight loss drugs: Still critical you make the right lifestyle changesCNBC's Meg Tirrell talks with Sima Sistani, WW International CEO, on 'Closing Bell: Overtime' to discuss the company's stock surge after announcing it had acquired Sequence, a telehealth platform that helps treat obesity.
☆ China opposes U.S. adding Chinese firms to trade blacklist
  + stars: | 2023-03-03 | by ( ) www.reuters.com   time to read: 1 min
HONG KONG, March 3 (Reuters) - China opposes the United States adding several Chinese firms to its trade blacklist, China's commerce ministry said on Friday. China urges the United States to stop using any excuse to suppress Chinese firms, the ministry said in a statement posted on its website. The U.S. Commerce Department, which oversees export controls, recently added two units of genetics company BGI (300676.SZ) to the export control list. Reporting by Meg Shen and Twinnie SiuOur Standards: The Thomson Reuters Trust Principles.
☆ The quality of your clinical data drives everything, says Reata Pharma CEO Warren Huff
  + stars: | 2023-03-02 | 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 EmailThe quality of your clinical data drives everything, says Reata Pharma CEO Warren HuffWarren Huff, CEO of Reata Pharmaceuticals, and CNBC's Meg Tirrell join 'Power Lunch' to discuss Reata's new drug for treating a rare neurological disorder receiving FDA approval.
☆ A fund manager who's beaten 99% of his peers over the last decade shares 5 energy stocks he's betting on right now as 'oil and gas profits could become one of the only games in town' during a recessio
  + stars: | 2023-03-02 | by ( William Edwards | ) www.businessinsider.com   time to read: +3 min
Energy stocks still have more upside even after their big run, says Bill Smead. Energy stocks have soared since their pandemic lows, with the Energy Select Sector SPDR Fund (XLE) up 230% since March 2020 compared to the S&P 500's 71%. Further, Smead said an incoming recession could wipe out profits in other industries, leaving investors to flock to the oil industry. Nothing could be better than producing addictive fossil fuel energy at higher and higher prices for the next decade." 5 energy stocks to watchWhile Smead is bullish on energy broadly, he especially likes firms that aren't giants in the industry.
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