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☆ Feds busted a 'high-end' brothel network serving politicians and pharma execs. Apparent clients are wondering if they'll be next.
▼ + stars: | 2023-11-09 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +5 min

The feds busted a "sophisticated" brothel network that serviced politicians, pharma executives, and other high-profile clientele. Clients worried that they would be arrested, while others urged people to "shut the fuck up and lawyer up." AdvertisementAdvertisementThe Justice Department announced charges Wednesday against three defendants accused of operating a "sophisticated" brothel network in the Boston area and in eastern Virginia. "I'm glad I never participated," the user wrote in the forum after laying out the requirements. A Justice Department spokesperson declined to comment when asked if prosecutors are planning on charging others connected to the brothel network.

Persons: —, — Han Lee, James Lee, Junmyung Lee —, Han Lee, Junmyung Lee, BTT, I'm Organizations: pharma, Service, Boston, Department, feds, Justice Locations: Virginia, Boston, Btt, Georgia, Massachusetts

☆ Here are Thursday's biggest analyst calls: Nvidia, Disney, Tesla, Instacart, Arm, Rivian, Target & more
▼ + stars: | 2023-11-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Thursday's biggest calls on Wall Street: Goldman Sachs initiates Apellis Pharmaceuticals as buy Goldman initiated the biotech company with a buy and says it sees "continued execution." Bank of America reiterates Disney as buy Bank of America said it's standing by its buy rating after Wednesday's earnings report. Goldman Sachs reiterates Arm as overweight Goldman said it's sticking with its buy rating after the stock's earnings report on Wednesday. Goldman Sachs reiterates Instacart as buy Goldman said it's sticking with its buy rating on the grocery delivery company after Instacart's earnings report on Wednesday. Morgan Stanley reiterates Rivian as overweight Morgan Stanley said it's sticking with its overweight rating on the electric vehicle company. "

Persons: Goldman Sachs, Goldman, Tesla, WK Kellogg, Kellogg, Wolfe, Instacart, Morgan Stanley, Rivian, Eli Lilly, MRK's Keytruda, Evercore, it's bullish, Parker, Wells, it's, Hein Schumacher Organizations: Apellis Pharmaceuticals, HSBC, Tesla, Barclays, JPMorgan, Bank of America, Disney, ARM, Deutsche Bank, Deutsche, Merck, pharma, TAP, Industrial, Nvidia, Anheuser, Busch InBev, Bud, Offshore, Unilever, OW, Citi Locations: North America, Montrose

☆ High-end brothels serviced elected officials, tech and pharma execs, military brass: Feds
▼ + stars: | 2023-11-08 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

A network of "sophisticated" high-end brothels in greater Boston and eastern Virginia provided sex for pay to "elected officials, high tech and pharmaceutical executives, doctors, military officers, government contractors that possess security clearances, professors," and others, federal prosecutors said Wednesday. Three people were arrested in connection with operating the pricey sex shops, which required "interested sex buyers" to provide employer information and references before booking sessions with prostitutes, authorities said. "The investigation into the involvement of sex buyers is active and ongoing," the office said. In addition to politicians and military brass, business executives and government contractors, customers included "lawyers, scientists and accountants." About 20 "sex buyers" were interviewed by the investigators as part of a multi-year probe of the network, according to a criminal complaint.

Organizations: Attorney's, Massachusetts, Washington , D.C, Department of Homeland Security Locations: Boston, Virginia, Cambridge, Watertown , Massachusetts, Fairfax, Tysons , Virginia, The Virginia, Washington ,, U.S

More than 10,000 Palestinians, including over 4,000 children, have been killed, according to health officials in Hamas-run Gaza. “I can’t forget his image.”The WHO is pushing for the most vulnerable among the chronically ill to be allowed out for treatment. Other countries have offered to take in patients, including Egypt, Turkey and the United Arab Emirates. This is the first time there is such a comprehensive ban on movement and Gaza patients can’t make it out,” said Osama Qadoumi, the supervisor at Makassed Hospital. There are 350,000 patients with chronic conditions in Gaza, including cancer and diabetes, as well as 50,000 pregnant women, according to data from United Nations organizations.

Persons: Naser, Khan Younis, Mohammed Salem, Tahreer Azzam, Azzam, ”, “, Osama Qadoumi, Richard Peeperkorn, haven’t, Um Taha, Farrah, Hala, God ’, Henriette Chacar, Jennifer Rigby, Michele Gershberg, James Mackenzie, Daniel Wallis Organizations: REUTERS, Makassed, West Bank, World Health Organization, WHO, Hamas, Reuters, United, United Nations, Makassed Hospital, Thomson Locations: Khan, Gaza, Jerusalem, Israel, Egypt, Turkey, United Arab Emirates, Makassed, Hala

☆ Bayer slow-motion breakup may leave clunky core
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 8 (Reuters Breakingviews) - Bayer’s (BAYGn.DE) planned surgery risks leaving an ailing rump. Valued in line with peers, Bayer’s seeds, drugs and consumer units could be worth 54 billion euros, 38 billion euros and 16 billion euros respectively, according to Breakingviews calculations using LSEG data. Take off debt and pensions, and Bayer’s equity should total nearly 60 billion euros, some 47% above its current market capitalisation. But hiving off the seeds business would leave a pharma business hitched to a consumer unit, a model shunned by rivals Pfizer (PFE.N), Sanofi (SASY.PA) and GSK (GSK.L). They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: weedkiller, Bill Anderson’s, Anderson, Aimee Donnellan, Neil Unmack, Oliver Taslic Organizations: Reuters, Pfizer, Sanofi, GSK, X, SEC, Paramount, Thomson

Many of the patents at issue in the Food and Drug Administration's Orange Book listing of approved products were for devices such as asthma inhalers and epinephrine autoinjectors, the FTC said. "Wrongfully listed Orange Book patents by pharma companies can raise drug prices for Americans, harm fair competition, and delay better drugs," FTC Chair Lina Khan said on X, formerly known as Twitter. The Orange Book identifies drugs and products that the FDA has deemed safe and effective. The FTC says companies sometimes improperly list patents in the Orange Book that can delay market entry of lower priced generics. AbbVie was informed the FTC would dispute four patents in the Orange Book having to do with Restasis Multidose, eye drops used for chronic dry eye.

Persons: Andrew Kelly, Lina Khan, Boehringer Ingelheim, Mylan, AbbVie, Restasis, Diane Bartz, Patrick Wingrove, Bill Berkrot Organizations: Food and Drug Administration, FDA, REUTERS, AstraZeneca, GSK, U.S . Federal Trade Commission, Food, FTC, pharma, Thomson Locations: White Oak , Maryland, U.S, WASHINGTON, Israel, Viatris

☆ 'Pharma Bro' Martin Shkreli brags that Sam Bankman-Fried asked him for advice on how to serve prison time
▼ + stars: | 2023-11-07 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +4 min

Martin Shkreli bragged that Sam Bankman-Fried asked him for advice on serving prison time. Shkreli did an interview with Tucker Carlson and said he told Bankman-Fried to "learn slang" and "invent a backstory." AdvertisementAdvertisementInfamous "Pharma Bro" Martin Shkreli, who was released from federal prison last year, bragged to Tucker Carlson that Sam Bankman-Fried asked him for advice on serving time in the slammer as the disgraced FTX founder faces the prospect of more than 100 years behind bars. That may be why Sam Bankman-Fried just asked his advice on doing time. AdvertisementAdvertisementAdditionally, Shkreli told Carlson that he believed Bankman-Fried would "most likely" go to prison for a "long time" and that he would be "screwed" behind bars.

Persons: Martin Shkreli, Sam Bankman, Fried, Shkreli, Tucker Carlson, Bankman, —, Bro, Mark Botnick, He's, Hillary Clinton, vMGiqDk4tR — Tucker Carlson, there's, Carlson Organizations: Pharma, Service, Twitter, Fox News Locations: California, Oakland, Brooklyn

☆ Exclusive: Activist investor Elliott targets drugmaker BioMarin -sources
▼ + stars: | 2023-11-07 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

NEW YORK, Nov 7 (Reuters) - Activist investor Elliott Investment Management has built a stake in BioMarin Pharmaceutical (BMRN.O) and has been in discussions with the biotechnology company for months about its future, according to two people familiar with the matter. Elliott declined to comment, while a representative for BioMarin did not immediately respond to a request for comment. BioMarin shares rose 12% to $85.36 on the news in morning trading in New York on Tuesday. Prior to news of Elliott's engagement, BioMarin shares were down 24% year-to-date, significantly underperforming the iShares Biotechnology ETF (IBB.O), which is down 8.6%. Elliott also successfully pushed for drug makers Alexion Pharma (AZN.L) and Allergan (ABBV.N) to be sold.

Persons: Elliott, BioMarin, hemophilia, Jean, Jacques Bienaime, Alexander Hardy, Jefferies, Bienaime, Harvey, Richard Meier, Svea Herbst, Bayliss, Jamie Freed Organizations: Investment Management, BioMarin Pharmaceutical, Biotechnology, Alexion Pharma, Svea, Thomson Locations: BioMarin, San Rafael , California, West Palm Beach , Florida, New York

☆ Martin Shkreli wants you to think his time in prison was like 'Goodfellas'
▼ + stars: | 2023-11-07 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +3 min

Martin Shkreli described his time in prison like something out of the mob movie "Goodfellas." AdvertisementAdvertisementInfamous "Pharma Bro" Martin Shkreli described his time locked up in a federal prison like something straight out of Martin Scorsese's 1990 classic mobster movie "Goodfellas." Carlson, the ousted Fox News host, asked Shkreli, who was freed from prison last year, during the hour-long interview. Ask Martin Shkreli. And then we'd pay a guy to pay a guy to get the sauce in," Shkreli recounted.

Persons: Martin Shkreli, Shkreli, Tucker Carlson, —, Bro, Martin Scorsese's, Tucker Carlson's, Carlson, Hillary Clinton, Sam Bankman, Fried, vMGiqDk4tR — Tucker Carlson, fraudster Organizations: Service, Fox News

☆ EU proposal may accelerate pharma innovation decline, industry group says
▼ + stars: | 2023-11-06 | by ( Julia Payne | ) www.reuters.com time to read: +3 min

"Any changes to our incentives system would equally affect EU-based and foreign-based companies which bring medicines to the EU and, therefore, it would not put EU firms at a disadvantage," an EU Commission spokesperson said. Medication was the single biggest contributor to the EU’s trade surplus, with 235 billion euro ($252.13 billion) worth of exports in 2021. The EFPIA said small biotech companies have already moved to the United States and China. The Commission said its proposal would reduce new medicine approval times to 180 days from 400 days. Germany, Belgium and France would be the hardest hit by the proposed rules, the EFPIA said citing research by Dolon that it commissioned.

Persons: EFPIA, Lars Fruergaard Jorgensen, Jorgensen, Ozempic, " Jorgensen, Julia Payne, Lisa Shumaker Organizations: European Commission, European Federation of Pharmaceutical Industries, EU, Commission, Novo Nordisk, Thomson Locations: BRUSSELS, United States, China, Danish, Boston, U.S, Europe, EU, Germany, Belgium, France

☆ Stocks week ahead: Here’s how America’s economy could begin to weaken
▼ + stars: | 2023-11-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

The job market or spending? The spending argument: But there have been instances in which spending weakened before the job market. “I think it starts with the perception of the labor market,” Drew Matus, chief market strategist at MetLife Investment Management, told CNN. The ticket-industry giant said it has sold a record 140 million tickets so far this year, up 17% year-over-year and has already surpassed the 121 million tickets sold in all of 2022. In the third quarter, Ticketmaster sales surged 57% to $833 million and 90 million fee-bearing tickets were sold in the period.

Persons: can’t, ” Shannon Seery, “ It’s, ” Seery, Luke Tilley, ” Tilley, Jerome Powell, ” Drew Matus, ”, Taylor Swift, Parija Kavilanz, Swifties, Taylor, Michael Rapino, Beyoncé, Harry Styles, Bunny, Jonas Brothers, Bruce Springsteen, Lisa Cook, Michael Barr, Jeffrey Schmid, Christopher Waller, John Williams, Lorie Logan, Ralph Lauren, Steve Madden, Phillip Jefferson, Raphael Bostic, Tom Barkin, Christine Lagarde Organizations: CNN Business, Bell, DC CNN, CNN, Employers, Investment Advisors, Companies, National Bureau of Economic Research, CNN Wednesday, Federal, MetLife Investment Management, Ticketmaster, Ryanair, Goodyear, Fed, Reserve Bank of Australia, Uber, Occidental Petroleum, KKR, The Carlyle Group, US Commerce Department, Biogen, Warner Bros, Teva Pharma, The New York Times Company, Armour, SeaWorld, MGM Resorts, China’s National Bureau of Statistics, Sony Group, Astrazeneca, Tapestry, News Corp, US Labor Department, Soho House, National Statistics, European Central Bank, University of Michigan Locations: Washington, Wells, Wilmington, Lyft, Brookfield, Soho

☆ Starbursts, smuggled coffee and Martin Shkreli: How CNBC reported the Sam Bankman-Fried trial
▼ + stars: | 2023-11-04 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +13 min

Artist: Elizabeth WilliamsJust before 8 p.m. on Thursday, 12 jurors found Sam Bankman-Fried guilty of all seven counts against him. (CNBC put out a note requesting access ahead of the trial — an email which was ultimately ignored.) Every exit to file a report included another breakneck trip through security, in a sort of run, rinse, repeat cycle — security, courtroom, exit, photographer's car to file, back up through security, over and over again. CNBC correspondent MacKenzie Sigalos reporting on the Sam Bankman-Fried trial from outside the SDNY courthouse at 500 Pearl Street in downtown Manhattan. Around 8:02 p.m., Bankman-Fried, speechless, began to walk to a room just adjacent to the main court.

Persons: Sam Bankman, Elizabeth Williams, Fried, MacKenzie Sigalos, Dan Mangan, Martin Shkreli, Andrew Ross Sorkin, Michael Lewis, Lewis, Indiana Jones, Ben McKenzie, McKenzie, Damian Williams, They'd, Danielle Sassoon, Jane Rosenberg, Joe Bankman, Barbara Fried, Joseph Bankman, Brendan Mcdermid, gaunt, Kaplan, Bankman, Mark Cohen, Judge Kaplan, blankly, Christian Everdell, Cohen Organizations: Alameda Research, Southern, of, CNBC, Auburn University totebag, Capitalism, U.S, Federal Court Locations: of New York, San Francisco, Vegas, Georgia, Manhattan, Indiana, New York City, U.S

☆ A short seller with a 95% win ratio shares 5 stocks he recently traded and why his strategy of finding cash-strapped companies to bet against is working better than ever
▼ + stars: | 2023-11-04 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

That year, he had also taken up an interest in stock trading. Increased accuracy on VWAPThe volume-weighted average price (VWAP) is a chart line that tracks the average price traders paid for a stock. If a stock's price is too far above the VWAP, it signals that it's overbought, and vice versa. But as more short sellers chase the stock's price down, it can get overcrowded, he noted. Pop Culture Group (CPOP) stock's trading was halted on October 31 after the stock rallied quickly.

Persons: David Capablanca, Capablanca, TraderSync, David Olivares, Olivares, He's Organizations: University of California, pharma, Capablanca, Interactive, Traders, Reviva Pharmaceuticals Holdings, shorting, InMed Pharmaceuticals, Culture Locations: Los Angeles

☆ Montana GOP Senate candidate would be in the top 10 richest lawmakers — and his investments are sure to irk some conservatives
▼ + stars: | 2023-11-02 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

Tim Sheehy, GOP leadership's anointed Senate candidate in Montana, disclosed his personal finances. Altogether, the Montana Republican's net worth lies somewhere between $74 million and $260 million, according to a calculation of his declared assets. Yet Tester still handily outraised Sheehy during the last quarter, raising $5 million versus Sheehy's $2.8 million. The Montana Republican and his wife are also invested in a variety of pharmaceutical companies, even as skepticism of big pharma grows on the right in the wake of the pandemic and COVID-19 vaccine mandates. The spokesperson also pointed to Sheehy's ethics pledge, which states that the Montana Republican will place all of his stocks into a blind trust if elected.

Persons: Tim Sheehy, Democratic Sen, Jon Tester, Bridger Aerospace CEO's, Republican Sen, Rick Scott of, who's, Tester, outraised Sheehy, Matt Rosendale, —, Sheehy, Bridger Organizations: Service, Democratic, Bridger Aerospace, Republican, Bridger, GOP, Montana Republican, Johnson, Royalty Pharma Locations: Montana, Bridger, Rick Scott of Florida, Rosendale, China, PZIEX, Cloverly

☆ Mounjaro has the potential to perform well, says Jim Cramer
▼ + stars: | 2023-11-02 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Mounjaro has the potential to perform well, says Jim Cramer'Mad Money' host Jim Cramer discusses what he considers to be one of the market's blindspots when it comes to pharma.

Persons: Mounjaro, Jim Cramer Organizations: pharma

☆ AstraZeneca to invest $245 mln in Cellectis to boost gene therapy prospects
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

The logo for AstraZeneca is seen outside its North America headquarters in Wilmington, Delaware, U.S., March 22, 2021. Cellectis' gene-editing technology and manufacturing capabilities to design novel cell and gene therapy products will help strengthen AstraZeneca's growing offering in the space, it said. AstraZeneca said that as part of the deal, it will pay Cellectis $105 million by the end of this year. That includes an $80 million equity investment, which will be followed by another $140 million in early 2024, which will give AstraZeneca a stake of about 44% in the French company. The Anglo-Swedish pharma company said it had exclusive rights to 25 genetic targets, of which up to 10 candidate products could be explored for development.

Persons: Rachel Wisniewski, Aby Jose Koilparambil, Savio D'Souza Organizations: AstraZeneca, REUTERS, Swedish pharma, Thomson Locations: North America, Wilmington , Delaware, U.S, Swedish, Bengaluru

☆ How Novo Nordisk makes its weight-loss drug Wegovy
▼ + stars: | 2023-11-01 | by ( Maggie Fick | ) www.reuters.com time to read: +3 min

[1/2] A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, August31, 2023. REUTERS/Victoria Klesty/Illustration/File Photo Acquire Licensing RightsLONDON, Nov 1 (Reuters) - Novo Nordisk (NOVOb.CO) is spending billions of dollars to boost output and ease shortages of its hugely popular, highly effective weight-loss medicine Wegovy. FILL-FINISHNovo has hired Catalent (CTLT.N), a large U.S. contract drug manufacturer, to fill injection pens for Wegovy at two of that company's plants: in Brussels and in Bloomington, Indiana. Novo has also hired another U.S. firm, Thermo Fisher (TMO.N), as a Wegovy pen filler. COMPONENTSThe Wegovy injection pens for the U.S. market slightly differ from those sold in the European markets including Norway, Denmark, Germany and UK, where it has so far launched.

Persons: Victoria Klesty, Catalent, Novo, Wegovy, Maggie Fick, Josephine Mason, Tomasz Janowski Organizations: REUTERS, Novo Nordisk, U.S, Novo, Reuters, PCI Pharma Services, autoinjectors, West Pharmaceutical Services, Stevenato, SCHOTT Pharma, Thomson Locations: Oslo, Norway, August31, Victoria, Danish, Novo, Denmark, U.S, Brussels, Bloomington , Indiana, Greenville , North Carolina, Greenville, Germany, Europe, Swiss

☆ Morning Bid: Refunding relief stokes bond-led bounce
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 23, 2023. But relief in Treasuries, the villain of the piece for several weeks, is probably the most significant marker for the remainder of the year. And there were further soothing noises for world bonds, even if not for global growth, from surprisingly weak Chinese business surveys for October. Overall, the picture pointed to another positive day for Wall Street stocks, with futures marginally positive ahead of the open as the Fed meeting gets underway. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Hubbell, Christina Fincher Organizations: New York Stock Exchange, REUTERS, Bank of, Federal Reserve, U.S . Treasury, Nikkei, Big Oil, BP, Wall, pharma, Pfizer, Caterpillar, General Motors, United Auto Workers, Detroit Three, Dallas Fed, Federal, AMD, Global, Franklin Resources, Equity, GE Healthcare, WEC Energy, Treasury, Reuters, Thomson Locations: New York City, U.S, Bank of Japan, Treasuries, California, Israel, Gaza, Europe, Chicago, Amgen, MSCI, Eaton, Franklin, AMETEK, Echolab

☆ Eyedrops from CVS, Rite Aid and others carry possible infection risk, FDA says
▼ + stars: | 2023-10-30 | by ( ) www.cnbc.com time to read: +1 min

U.S. health regulators are warning consumers not to use more than two dozen varieties of over-the-counter eyedrops because of the risk of infections that could lead to blindness. The Food and Drug Administration advisory applies to lubricating drops sold by six companies, including CVS Health , Target , Rite Aid and Cardinal Health . The agency asked the companies to recall their products last week, because FDA inspectors found unsanitary conditions and bacteria at the facility producing the drops. Earlier this year, federal officials linked an outbreak of drug-resistant bacteria to eyedrops from two companies, EzriCare and Delsam Pharma. After the products were recalled in February, health inspectors visited the manufacturing plant in India that made the eyedrops and uncovered problems with how they were made and tested, including inadequate sterility measures.

Organizations: U.S . Food, Drug Administration, Drug, CVS Health, Target, Rite Aid, Cardinal Health, Consumers, FDA, Delsam Pharma, Centers for Disease Control Locations: U.S, White Oak , Maryland, India

☆ This biotech developing a cholesterol drug has a chance to triple, RBC predicts
▼ + stars: | 2023-10-30 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

NewAmsterdam Pharma 's latest drug treatment could lead investors to a windfall, according to RBC Capital Markets. Timashev believes obicetrapib, a cholesterol-lowering treatment, "can succeed where others have failed" due to the drug's specific and idiosyncratic properties. Additionally, the drug has a history of success, consistently demonstrating a 40% to 50% LDL reduction in patients. The analyst added that while current use cases for the drug involve lowering cardiovascular events, there's also potential upside for other applications. Specifically, there's a relationship between higher cholesterol levels and Alzheimer's disease, which could be an avenue for NewAmsterdam to explore for future treatment opportunities.

Persons: Leonid Timashev, Timashev, obicetrapib, there's, — CNBC's Michael Bloom Organizations: NewAmsterdam Pharma, RBC Capital Markets

Yasunori Ogawa, Seiko Epson Corporation President and Representative Director and CEO, talks about their strategy at the company office in Tokyo, Japan, October 27, 2023. REUTERS/Miho Uranaka Acquire Licensing RightsTOKYO, Oct 30 (Reuters) - Printing giant Seiko Epson (6724.T) is betting on growth in the Middle East and Africa as demand ebbs in its home market of Japan and other developed nations, its chief executive said. The Middle East, Turkey, and Africa were growth highlights in fiscal 2022. "Our products are not yet widely distributed in the Middle East, and there is tremendous potential there," Yasunori Ogawa said in an interview after the company posted quarterly results on Friday. To eke out more growth in developed markets, Epson plans to shift its portfolio more towards commercial and industrial customers looking to reduce waste.

Persons: Yasunori Ogawa, Miho Uranaka, Ogawa, stokes, Rocky Swift, Stephen Coates Organizations: Seiko Epson Corporation, REUTERS, Rights, Seiko Epson, Thomson Locations: Tokyo, Japan, East, Africa, Turkey, India, Dubai

The Food and Drug Administration advisory applies to lubricating drops sold by six companies, including CVS Health, Target, Rite Aid and Cardinal Health. Consumers should stop using the products immediately and avoid purchasing any that remain on pharmacy and store shelves, the FDA said in a statement Friday. The agency asked the companies to recall their products last week, because FDA inspectors found unsanitary conditions and bacteria at the facility producing the drops. Earlier this year, federal officials linked an outbreak of drug-resistant bacteria to eyedrops from two companies, EzriCare and Delsam Pharma. ___The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group.

Organizations: WASHINGTON, —, Drug, CVS Health, Target, Rite Aid, Cardinal Health, Consumers, FDA, Delsam Pharma, Centers for Disease Control, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: — U.S, U.S, India

☆ Stocks making the biggest moves premarket: McDonald's, SoFi, Invitation Homes and more
▼ + stars: | 2023-10-30 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

East West Bancorp — Shares ticked up 2.6% after UBS upgraded them to buy on the back of strong third-quarter results. McDonald's — Shares popped 2.8% after the fast-food giant reported a third-quarter earnings and revenue beat. Revenue was boosted by higher-than-expected student loan originations for the quarter, according to the company's earnings release. The upgrade comes after L3Harris reported better-than-expected third-quarter earnings last week. However, the firm thinks DraftKings will have trouble breaking out higher until the company "proves market share resilience" in 2024.

Persons: SoFi, originations, Raymond James, L3Harris, Cowen, DraftKings, — CNBC's Pia Singh, Michelle Fox, Hakyung Kim Organizations: East West Bancorp, UBS, Revenue, Oppenheimer, L3Harris, NewAmsterdam Pharma, RBC Capital Markets Locations: LSEG

☆ Eyedrops From Major Brands May Cause Infection, F.D.A. Says
▼ + stars: | 2023-10-29 | by ( Rebecca Carballo | More About Rebecca Carballo | ) www.nytimes.com time to read: +1 min

Federal health officials are advising consumers to stop using more than two dozen over-the-counter eyedrops products because of a potential risk of eye infection that may lead to partial vision loss or blindness. The Food and Drug Administration issued an alert on Friday flagging 26 eye care products including eyedrops and gels from CVS Health, Leader (Cardinal Health), Rugby (Cardinal Health), Rite Aid, Target up&up and Velocity Pharma. The federal agency recommended on Wednesday that the manufacturer recall all lots of those products after agency investigators found unsanitary conditions in a manufacturing plant, according to the news release from the F.D.A. Bacterial tests came back positive from critical drug production areas in the plant, which the agency did not immediately identify. said that it had not received any reports of infection associated with these products, but it was encouraging health care professionals and patients to report any cases to the agency.

Organizations: Drug Administration, CVS Health, Health, Rugby, Cardinal Health, Rite, Target, Velocity Pharma

☆ Here are 5 anti-obesity drug stocks besides Novo Nordisk and Eli Lilly to watch into year-end
▼ + stars: | 2023-10-29 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +11 min

Novo Nordisk and Eli Lilly reign over the anti-obesity drug market, and don't expect this duopoly to end soon, analysts say. All this goes on amid robust demand for Novo's semaglutide, which is sold as Ozempic for type 2 diabetes and as Wegovy for weight loss, and Lilly's tirzepatide, which hopes to receive regulatory approval for weight loss this year. Orforglipron is an oral drug Eli Lilly is developing. It has several other compounds in the pipeline, but Suvannavejh expects the weight loss drug to receive increased attention. "This range would also be competitive with LLY's orforglipron [an oral GLP-1 drug] weight loss at day 28," Smith said.

Persons: Eli Lilly, Piper Sandler, Yasmeen Rahimi, Cantor Fitzgerald, Louise Chen, Lilly, Lilly's, Chen, Price, Kyle Rasbach, We've, Rasbach, Altimmune Altimmune, NASH, Piper's, Rahimi, Cantor's Chen, it's, Eli Lilly's Mounjaro, Goldman Sachs, Chris Shibutani, David Risinger, Risinger, Jonathan Wolleben, Wolleben, Orforglipron, Graig Suvannavejh, Suvannavejh, Thomas Smith, LLY's, Smith, Yale Jen, Jen Organizations: Novo Nordisk, Pfizer, Novo, pharma, Pfizer Pfizer, danuglipron, Therapeutics, Leerink, Mizuho Securities, Viking Therapeutics Viking Therapeutics, Laidlaw & Co Locations: Novo, GLP, Eventide

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