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☆ U.S. doctors are 'wowed' by Novo Nordisk's weight-loss drug data, analyst says
▼ + stars: | 2023-08-09 | 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 EmailU.S. doctors are 'wowed' by Novo Nordisk's weight-loss drug data, analyst saysPeter Verdult, managing director of Citi Pharma Research Citigroup, discusses the findings of Novo Nordisk 's closely watched "SELECT" trial.

Persons: Peter Verdult Organizations: Novo, Citi Pharma Research Citigroup, Novo Nordisk

☆ Obesity drugs take brakes off Big Pharma’s growth
▼ + stars: | 2023-08-08 | by ( Robert Cyran | ) www.reuters.com time to read: +4 min

That’s what Eli Lilly (LLY.N) did in the second quarter, thanks to demand for its diabetes and weight loss drug Mounjaro. While doctors are currently free to prescribe Mounjaro for obesity, insurers and governments typically won’t pay for what some still insist is a vanity treatment. Even so a regulatory green light, and clear evidence that these drugs have tangible health benefits, will help loosen purse strings. The brakes are off these firms’ growth, and investors are counting on them remaining so. Mounjaro, the company’s diabetes drug, brought in revenue of $980 million, compared to $16 million a year ago.

Persons: Eli Lilly, LLY.N, Lilly, That’s, David Ricks, Mounjaro, Peter Thal Larsen, Sharon Lam Organizations: Reuters, Novo Nordisk, U.S . Food, Drug Administration, Merck, Investors, Thomson Locations: Danish, U.S, Novo

☆ Why tiny homes could be a big deal
▼ + stars: | 2023-08-06 | by ( Matt Turner | ) www.businessinsider.com time to read: +6 min

It's easy to look at these tiny homes as undersized gimmicks, but there are real use cases. Others are leaning on tiny homes to house homeless veterans. Denver changed its zoning laws to make ADU construction easier, allowing two-story units in some parts of the city. Tiny homes won't fix that, but innovation in zoning and construction, taken with recent data pointing to a surge in residential construction, offer reasons for hope. Why tiny homes could be a big dealThis first appeared in the Insider Today newsletter.

Persons: Joyce Higashi, Katie Sandoval, Clark, Maggie, John Randolph, crumbles Karl Maasdam, Lawrence D, Thornton, Rebecca Zisser, Francesca Gino, Gino, she's, Read, Morgan Stanley, Arantza Pena Popo, Who's, James Gorman, Ted Pick, Morgan Stanley copresident, Insider's Hayley Cuccinello, Pick, Andy Saperstein, Ted Pick Big, Tyler Le, Brad Setser, Tess Turner, Stack, coders, — Jasmine Hyman, Doc Martens, Matt Turner, Hallam Bullock, Lisa Ryan Organizations: Service, Harvard, Big Pharma Locations: Wall, Silicon, California, San Jose, New Hampshire, Denver, Austin's, New York City

REUTERS/George Frey/File PhotoNEW YORK, Aug 4 (Reuters) - Oxycontin maker Purdue Pharma on Friday asked the U.S. Supreme Court to reject the U.S. Department of Justice's request to delay its multi-billion-dollar bankruptcy settlement resolving thousands of lawsuits against it over the opioid epidemic. The department's bankruptcy watchdog last week asked the Supreme Court to pause the settlement, which would shield the company's Sackler family owners from opioid lawsuits in exchange for a $6 billion contribution to a broader settlement with states, local governments and victims of addiction. The Department of Justice (DOJ) asked the high court to put the deal on hold after a federal appeals court rejected a proposed delay. That position was echoed by a group representing 60,000 people who have filed personal injury opioid claims in Purdue's bankruptcy. Similar lawsuits related to the U.S. opioid crisis have resulted in more than $50 billion in settlements with manufacturers, drug distributors and pharmacy chains.

Persons: George Frey, Sackler, Purdue's, OxyContin, Dietrich Knauth, Grant McCool Organizations: Purdue Pharma, REUTERS, U.S, Supreme, U.S . Department, of Justice, Purdue, Thomson Locations: Provo , Utah, U.S, Purdue's

TOKYO, Aug 3 (Reuters) - The Japan opening of the hit film "Barbie" was dealt additional setbacks as an online petition gained steam calling on Hollywood studios to disavow a grassroots marketing movement that made light of nuclear holocaust. Warner Bros initially latched on to fan-produced memes that depicted Robbie's Barbie with actor Cillian Murphy's Oppenheimer alongside images of nuclear blasts. But fans were not amused in Japan, which in coming days will mark the memorials of the atomic bombings of Hiroshima and Nagasaki 78 years ago. "This incident is really, really disappointing," she posted. Ambassador to Japan Rahm Emanuel posted a picture of his meeting in Tokyo with director Greta Gerwig, but the response online was chilly.

Persons: Oppenheimer, Barbie, Margot Robbie, J, Robert Oppenheimer, Robbie's Barbie, Cillian Murphy's Oppenheimer, Barbie delighting, Koji Maruyama, Mitsuki Takahata, Japan Rahm Emanuel, Greta Gerwig, Emanuel, Rocky Swift, Chang, Ran Kim, Michael Perry Organizations: Hollywood, Warner Bros, Universal Pictures, Warner's, Twitter, Thomson Locations: TOKYO, Japan, Hiroshima, Nagasaki, Warner's Japan, Tokyo

☆ Bernstein picks recession-beating global stocks for ‘value, growth and quality’
▼ + stars: | 2023-08-03 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Investment bank Bernstein picked a raft of Chinese and Indian stocks in sectors including tech, pharma and IT, naming them on a list of "opportunities for value, growth and quality." "We believe that it is time to increase risk exposure in China by adding more high volatility stocks," the analysts wrote. "GPT can accelerate development of its business and give the company the tailwinds to reshape its strategy," the analysts wrote. Indian stock picks Indian drug company Sun Pharma is also on Bernstein's list of outperform-rated stocks. In India … they have outperformed the market," the analysts wrote, and they also praised Sun's specialty drug portfolio in the U.S.

Persons: Bernstein, Rupal Agarwal, India … Organizations: pharma, " Pharma, Wuxi, Baidu, Sun Pharma, U.S, Infosys, Reliance Industries, New Locations: Asia, China, Wuxi, India, Bangalore, New Commerce

☆ Trick That Helps Big Pharma Companies Avoid Paying Billons in US Taxes
▼ + stars: | 2023-08-03 | by ( Brad Setser | Tess Turner | ) www.businessinsider.com time to read: +11 min

But take a look at the corporate disclosures of America's largest pharmaceutical companies, and a puzzling hole opens. Large legal loopholesThe offshore migration of these pharmaceutical companies' profits may seem egregious, but the tax gymnastics are generally legal. On paper, America's corporate-tax rate is 21%, but the country's largest and most profitable pharmaceutical companies don't pay anything close to that. What's more, the superlow rate enjoyed by American pharmaceutical companies isn't necessary for these firms to be internationally competitive. A spoonful of medicine to make the taxes go downAmerica's pharmaceutical companies have made great contributions to medicine.

Persons: Democratic Sen, Ron Wyden, AbbVie, it's, Keytruda, Gilead, Eli Lilly, they've, Brad W, Whitney, Tess Turner Organizations: Merck, National Institutes of Health . Pharmaceutical, Democratic, Pfizer, US pharma, US Treasury, Trump, Treasury, US, Denmark's, Nordisk, Novartis, National Institutes of Health, Whitney Shepardson, Council, Foreign Relations Locations: Oregon, America, Caribbean, Europe, Bermuda, Puerto Rico, Germany, Ireland, Singapore, Switzerland, Belgium, Denmark

China's Ministry of State Security on Tuesday said China should encourage its citizens to join counter-espionage work, including creating channels for individuals to report suspicious activity and rewarding them for doing do. A system that makes it "normal" for regular people to participate in counter-espionage should be established, the ministry said. That followed an expansion of China's counter-espionage law that took effect in July and bans the transfer of information it sees as related to national security. It has alarmed the United States, which has warned that foreign companies in China could be punished for regular business activities. China's declaration that it is under threat from spies comes as Western nations, most prominently the United States, accuse China of espionage and cyberattacks, a charge that Beijing has rejected.

Persons: Janet Yellen, Mark Schiefelbein, Matt Miller, Cheng Lei, Daphne Psaledakis, Humeyra Pamuk, Mark Porter, Rosalba O'Brien Organizations: China's Ministry of State Security, Astellas Pharma, Thomson Locations: United States, Diaoyutai, Beijing, China

☆ China spy agency’s social media debut calls for ‘all members of society’ to combat espionage
▼ + stars: | 2023-08-02 | by ( Chris Lau | ) edition.cnn.com time to read: +5 min

The Ministry of State Security oversees intelligence and counterintelligence both within China and overseas. Titled “Countering espionage requires the mobilization of all members of society,” the ministry said national security bodies should keep reporting channels, such as hotlines and online platforms, open to handle reports of suspected espionage within China in a timely manner. But those efforts have gathered pace under Xi Jinping, China’s most assertive and authoritarian leader in a generation who has made state security his top priority. Previous anti-spying driveThere have been multiple previous calls by China for the public to look for potential spies. In June last year, China announced “material rewards” of up to and above 100,000 yuan ($15,000) for tip-offs about people who endanger national security.

Persons: Hong Kong CNN —, ”, Xi Jinping, Greg Baker, Xiao Li, Li –, David Organizations: Hong Kong CNN, of State Security, CIA, FBI, Group, Bain & Company, Astellas Pharma, Getty Locations: Hong Kong, China, Beijing, American, Shanghai, Japan, AFP

☆ China wants to mobilise entire nation in counter-espionage
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Aug 1 (Reuters) - China should encourage its citizens to join counter-espionage work, including creating channels for individuals to report suspicious activity as well as commending and rewarding them, the state security ministry said on Tuesday. Australian journalist Cheng Lei, accused by China for providing state secrets to another country, has been detained since September 2020. China's declaration that it is under threat from spies comes as Western nations, most prominently the United States, accuse China of espionage and cyberattacks, a charge that Beijing has rejected. The United States itself is the "empire of hacking," a Chinese foreign ministry spokesperson has said. In protecting itself from espionage, China would need the participation of its people in building a defence line, the state security ministry wrote in its WeChat post.

Persons: State Security Chen Yixin, Chen, Cheng Lei, Ryan Woo, Raju Gopalakrishnan Organizations: of State Security, State Security, Communist Party of China, Astellas Pharma, Thomson Locations: BEIJING, China, United States, Beijing

☆ Morning Bid: August cools Wall St stocks
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +4 min

China's factory underperformance stood out once again and underlined its struggling recovery - perhaps the main driver of stalling industrial activity everywhere. With markets increasingly impatient at the patchy and underwhelming economic stimulus plans seen from Beijing so far, China stocks fell back (.CSI300), bucking Tuesday's wider Asia stocks rally. Sterling and UK stocks (.FTMC) fell back. Ride-hailing giant Uber's stock rose more than 2% before the bell and ahead of its earnings report. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, underperformance, Austan Goolsbee, Goolbee, Stanley Black, Decker, Zimmer Biomet, Revvity, Bernadette Baum Organizations: Federal Reserve, U.S ., Chicago Fed, Bank of England, Sterling, AMD, Caterpillar, Big Pharma, Pfizer, Merck, Ride, HSBC, BP, Uber, Prudential Financial, AIG, Starbucks, Molson Coors, Boston Properties, Caesars Entertainment, Illinois Tool, Natural Resources, Energy, Devon Energy, Gartner, Allstate, Paycom Software, Electronic, WEC, Rockwell, Public Service Enterprise, P Global, Dallas Fed, Chicago Federal, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, Wall, Beijing, China, Asia, ., Marathon, Eaton, Altria, Marriott, Illinois, Progressive

[1/6] German tourist Kevin Khani and Austrian tourist Georg Riedlbaur use an automated translation window at the Seibu-Shinjuku station in Tokyo, Japan, July 26, 2023. REUTERS/Kim Kyung-Hoon/File photoTOKYO, July 31 (Reuters) - As Japan enjoys a post-pandemic resurgence in tourism from around the globe, Seibu Railway is testing out an automated translation window to help confused foreigners navigate one of Tokyo's most complex transportation hubs. Kevin Khani was among foreign travellers who got turned around in the Seibu-Shinjuku station recently and found the VoiceBiz window helpful. Across the road from the Seibu station is Shinjuku's central Japan Railway (JR) station, which is the busiest in the world, with some 3.6 million people passing through daily. Weary from a 1 a.m. flight arrival, French tourists Isabelle and Marc Rigaud used the translation window to try to find their way from the Seibu station to the JR station.

Persons: Kevin Khani, Georg Riedlbaur, Kim Kyung, Harry Potter, Ayano Yajima, Toppan, Isabelle, Marc Rigaud, Tom Bateman, Rocky Swift, Simon Cameron, Moore Organizations: Seibu, REUTERS, Japan, Seibu Railway, Seibu Holdings, Kansai International, Japan Railway, Thomson Locations: Shinjuku, Tokyo, Japan, TOKYO, United States, Europe, Seibu, Alibaba

☆ This little-known pharma stock can rally 50%, Citi says
▼ + stars: | 2023-07-31 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

It's time to buy shares of Ionis Pharmaceuticals , according to Citi. The firm upgraded the stock on Monday to buy from neutral and raised its price target to $60 from $36. "Though HAE is a competitive market, Phase II data hints that it could have an attractive product profile and be a meaningful player," Lebowitz said. Given current valuation, we view the risk-reward on Ionis shares as being skewed positive." Lebowitz also highlighted donidalorsen's phase 2 test performance, which underpinned the stock upgrade.

Persons: David Lebowitz, eplontersen, HAE, Lebowitz, donidalorsen, Ionis, Michael Bloom Organizations: Ionis Pharmaceuticals, Citi, AstraZeneca, donidalorsen, Ionis

NEW YORK, July 28 (Reuters) - The U.S. Department of Justice on Friday asked the U.S. Supreme Court to stop Purdue Pharma from proceeding with a bankruptcy settlement that protects its Sackler family owners from lawsuits. Purdue's bankruptcy plan would shield its owners from opioid lawsuits in exchange for a $6 billion contribution to the company's broader bankruptcy settlement. Approving Purdue's bankruptcy plan "would leave in place a roadmap for wealthy corporations and individuals to misuse the bankruptcy system," the U.S Trustee argued. They said in May that the bankruptcy settlement would provide "substantial resources for people and communities in need." The Supreme Court set an Aug. 4 deadline for Purdue to respond.

Persons: Sackler, OxyContin, Dietrich Knauth, Matthew Lewis Organizations: YORK, U.S . Department of Justice, U.S, Supreme, Purdue Pharma, Purdue, U.S . Trustee, The U.S, Thomson Locations: Purdue's, U.S, Connecticut, New York

☆ AstraZeneca CFO denies geopolitics impacts the company's China business after spinoff rumors
▼ + stars: | 2023-07-28 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

AstraZeneca's chief financial officer on Friday said that geopolitical tensions are not impacting the company's China operations, following a report that the pharma giant is considering spinning off its business in the country. So I think we're just in a very unique space and we don't really see geopolitics playing a role in doing business in China," Aradhana Sarin told CNBC's "Squawk Box Europe." The Financial Times reported on June 18 that AstraZeneca had drawn up plans to spin off its China business and potentially list it in Hong Kong, in order to shield it from China's strained relationship with the U.S. and Europe. "China has actually been a great business for us," Sarin said, observing that the company's China branch had recorded four successive quarters of growth. The company's China revenues expanded by 7%, slightly above the 6% recorded in Europe, but below the 10% growth in the U.S., including Covid-related figures.

Persons: There's Organizations: pharma, Financial Times, AstraZeneca, U.S Locations: China, Hong Kong, Europe, Shanghai, U.S

☆ Fact Check-No evidence tornado-hit Pfizer plant produced COVID vaccines
▼ + stars: | 2023-07-26 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A Facebook post included the same video clip and the text: “Pfizer plant in North Carolina hit by a tornado. The Rocky Mount plant did not produce or store COVID vaccines, a Pfizer spokesperson told Reuters in an email. The plant also made vials and syringes, according to the Pfizer website (here). The Rocky Mount Pfizer plant damaged by a tornado produced sterile injectables among other products. There is no evidence that it produced or stored COVID vaccines.

Persons: ”, Read Organizations: Pfizer, Vaccines, North Carolina ”, Reuters, Mount, UPS, Biotech, Fierce, Rocky Locations: North Carolina, U.S, Kalamazoo , Michigan, Michigan, Wisconsin, Pleasant Prairie , Wisconsin, Louisville , Kentucky, Columbus , Ohio, Wisconsin and Massachusetts

☆ Danaher cut its outlook for 2023, but we're maintaining our rating — here's why
▼ + stars: | 2023-07-25 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Life sciences and medical diagnostics company Danaher (DHR) delivered a second-quarter earnings beat on Tuesday, but lowered its outlook for the year. When excluding the impact of Covid-related tests and products, Danaher realized base-business core sales growth of 2%. As a result, management was once again forced to downwardly revise their sales growth outlook for the year. We predict a bioprocessing bottom this year, early next year at the very latest, setting us for a rebound in organic revenue growth. This updated outlook represents a downward revision from the high-single-digit percentage decline previously expected on a core basis and the mid-single-digit percentage growth previously expected for the base business.

Persons: Danaher, Cash, Bioprocessing, That's, Sartorius, Cepheid, Jim Cramer's, Jim Cramer, Jim, Marisol Darge, Robert McCabe, Hyoung Chang Organizations: Revenue, Management, Wall, Biotechnology, pharma, CNBC, Kaiser Permanente Arapahoe Medical, Getty Locations: DHR, China, Base, Centennial , Colorado, Denver

Two other cough syrups made in India killed 19 children in Uzbekistan around December, according to the Uzbekistan government. India's overall pharma exports in the April-June quarter rose 5% to $6.58 billion. COUNTRY VISITSPharmexcil delegations have visited countries including Nigeria, Egypt and Russia in recent months to allay any concerns about Indian drugs, he said. Apart from Gambia, no other country has asked for additional tests for Indian drugs since the deaths, he said. Manufacturing a drug in Europe or the United States costs more than 30% than in India, giving India a big advantage, he said.

Persons: syrups, Udaya Bhaskar, Bhaskar, drugmakers, Krishna N, Alison Williams Organizations: Reuters, World Health Organization, WHO, pharma, Pharmaceuticals Export, of India, India's pharma, Marion Biotech, Thomson Locations: DELHI, Gambia, India, Uzbekistan, United States, China, U.S, Nigeria, Egypt, Russia, South Africa, Brazil, Europe

☆ FTC chair defends track record on antitrust challenges, says big isn't categorically bad
▼ + stars: | 2023-07-24 | by ( Lauren Feiner | ) www.cnbc.com time to read: +6 min

"Congress, when passing the antitrust statutes, was setting out a policy preference, in many cases, for competition over monopoly," Khan said. "Any given year, the antitrust agencies get anywhere between 1,500 to 3,000 merger filings. Of that number, 98% go through without even any second questions being asked by the agencies," Khan said. Khan also defended the agency's record in court when it comes to merger cases. That's in part because the Supreme Court hasn't taken up merger cases as frequently in recent decades, meaning "that older law is still good law."

Persons: Lina Khan, Khan, Neil Bradley, hasn't, FTCs Organizations: Energy, Federal Trade Commission, Federal Trade, Economic, of New, FTC, Department of Justice, Division, U.S . Chamber of Commerce, CNBC, YouTube, Big Tech Locations: Rayburn, of New York

☆ Big Pharma Bets Big on China
▼ + stars: | 2023-07-23 | by ( Clarence Leong | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ S&P 500 futures are flat ahead of a busy week of earnings, Fed meeting: Live updates
▼ + stars: | 2023-07-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

S&P 500 futures were little changed Sunday evening as investors awaited a batch of key earnings reports and a major policy decision from the Federal Reserve. The S&P 500 finished the week up by 0.7% at 4,536.34, while the Nasdaq Composite fell 0.6% in the same period to 14,032.81. The week ahead is also set to be the busiest one of earnings season, with Thursday being the most intense day. About 40% of the Dow and 30% of the S&P 500 will give their financial updates during the week, including Alphabet, Microsoft and Meta. Several big pharma companies are getting ready to report and it's a big week for industrial companies and big oil as well.

Persons: Noah Hamman, Fundstrat's Tom Lee, Jerome Powell, They're, —, Robert Hum, Sarah Min Organizations: Federal Reserve, Dow Jones Industrial, Nasdaq, Dow, Microsoft, Meta, pharma

☆ Opinion | Barbara Kingsolver Thinks Urban Liberals Have It All Wrong on Appalachia
▼ + stars: | 2023-07-21 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: +58 min

It’s like there’s no point in asking who started this because it’s a really, really old antagonism. I think that’s probably what’s most critical right now is that all of our entertainment, our news media, it’s all made in cities. And he’s really pretty horrible, and he doesn’t feed them enough, and that’s really sad. You’re going to have a flat tire, and the guy that pulls up to help you is going to tell your dad within minutes. It’s not like most books you’re going to see.

Persons: Ezra Klein, ezra klein, —, Hernan Diaz, Barbara Kingsolver, “ David Copperfield ”, Dickens, It’s, barbara kingsolver, you’ve, ezra klein We’re, Nobody, I’d, I’ve, Bobby Ann Mason’s, “, — Wendell Berry, Robert Penn Warren, James Still, Harriette, Taylor Greer, you’re, George Washington, ” he’s, — he’s, he’s, I’ll, They’re, George W, Bush, they’re, barbara kingsolver You’re, we’ve, That’s, that’s, I’m, ” barbara kingsolver, barbara kingsolver Oh, barbara kingsolver ezra klein barbara kingsolver, ezra klein Yes, we’re, Charles Dickens, “ David Copperfield, ”, Tommy, ” It’s, ezra klein There’s, barbara kingsolver There’s, Tommy Traddles, Tommy Waddles, who’s, He’s, We’re, Tommy’s, she’s, it’s, Beth Macy, overdosed, ” ezra klein, There’s, grandkids, they’ve, Dori, doesn’t, Peggot, Frances Goldin, Arwen Donahue, She’s, Beth Macy’s, Lazarus, Laline Paull, ezra klein Barbara Kingsolver Organizations: New York, Fiction, Trump, Nicholas County High School, DePauw University, Walmart, The New York Times, . Times, New York Times, Farmers, “, Knoxville —, Purdue Pharma, Purdue, aha, Scots Locations: Appalachia, It’s, Georgia, Tennessee, North Carolina, Virginia, Kentucky, West Virginia, Pennsylvania, U.S, exploitations, Congo, Caribbean, Indiana, Nicholas, Arizona, Europe, Tucson , Arizona, Tucson, Paris, Athens, France, “ Shiloh, MAGA, America, Brazil, Eastern Europe, There’s, California, New York, “, Tommy, Pennington, Knoxville, there’s, nove, Lee County, that’s Lee County, that’s, United States of America, who’s, New York City

☆ Morning Bid: Tesla, Netflix underwhelm
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +4 min

[1/2] A Tesla logo is seen outside a showroom of the carmaker in Beijing, China May 31, 2023. REUTERS/Thomas Peter/File PhotoA look at the day ahead in U.S. and global markets from Mike DolanAn overdue cold shower? July 20 (Reuters) - The first of the supercharged Big Tech firms to report in this earnings season - Tesla and Netflix - seemed to underwhelm markets overnight, cutting across the enthusiastic reception for big banks and knocking back bulled-up Wall St from 2023 highs. Although electric car giant Tesla (TSLA.O) comfortably beat second quarter profit forecasts, markets seized on plans for continued price discounting and squeezed margins as a reason to drag its shares down almost 4% in overnight trading. In the fixed income world, Treasury yields crept back higher ahead of next week's Federal Reserve meeting.

Persons: Thomas Peter, Mike Dolan, Dow Jones, McLennan, Philip Morris, WR, DR Horton, Janet Yellen, John Organizations: REUTERS, Big Tech, Netflix, Overseas, Citizens, US Bancorp, Energy, Healthcare, Abbott Laboratories, Johnson, Blackstone, Truist Financial, American Airlines, Marsh, WR Berkley, CSX, Philadelphia Federal Reserve, Treasury, Reuters Graphics Housing, Reuters Graphics Reuters, Thomson, Reuters Locations: Beijing, China, U.S, Russia, Britain, Newmont, Freeport, McMoRan, DR, Philadelphia, Turkey, South Africa, Vietnam

☆ Post-it maker 3M is in danger of coming unstuck
▼ + stars: | 2023-07-19 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +10 min

There will be up to $1.5 billion of costs related to separating the health care business, 3M has said. Its interest cover, after backing out estimated operating income from health care, would fall to about 4 times from 11 times. And its net debt, using all these assumptions and excluding the health care division, would swell to nearly 5 times EBITDA from less than 2 times. Back out $2.5 billion from health care, as estimated by the Morgan Stanley team, and $1.5 billion of capital expenditure costs noted by Wolfe Research. For example, the water settlement, as drafted, only envisions $4.6 billion of outlays through 2025, and the rest over the ensuing 11 years.

Persons: Mike Roman, Roman, Sackler, Johnson, Aearo, ”, Morgan Stanley, Smith, Nephew, Lauren Silva Laughlin, Streisand Neto Organizations: YORK, Reuters, U.S . Environmental, Purdue Pharma’s, Association of Metropolitan Water Agencies, Bayer, Monsanto, Aearo Technologies, Partners, Honeywell International, Siemens, 3M, Refinitiv, Reuters Graphics, Wolfe Research, Thomson Locations: . Oregon, Republic, Corning

☆ Over-the-Counter Birth Control Pills Are Coming. What Next? - The New York Times
▼ + stars: | 2023-07-19 | by ( Daniel Grossman | ) www.nytimes.com time to read: +2 min

Like many of my colleagues, I’ve been holding my breath for the last year, since HRA Pharma, which manufactures Opill, submitted its application to the F.D.A. We now have hope that other advances could be coming to help offset restrictions on minors’ access to contraception and state-level abortion bans. under President George W. Bush approved Plan B for over-the-counter sale, but only for people 18 or older. Because of the age restriction, the product was shunted behind the pharmacy counter, where the consumer’s age could be confirmed. asked Plan B’s sponsor for additional data on people 17 and younger to show the product could be used safely and effectively by adolescents.

Persons: Roe, — Opill, I’ve, Opill, George W, Bush Organizations: Food and Drug Administration, HRA Pharma

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