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Foster City, California-based Gilead collaborated with the CDC in the mid-2000s to test if Truvada could prevent HIV as well as treat it. The government received four patents for HIV prevention drug regimens that CDC researchers invented. Its lawsuit claims the patents also cover Gilead's pre-exposure prophylaxis (PrEP) drug regimen for lowering HIV infection risk. The U.S. Food and Drug Administration approved Gilead's Truvada for HIV prevention in 2012 and approved its related drug Descovy for the same purpose in 2019. Descovy, which earned Gilead over $1.8 billion last year, is its fourth-best selling drug behind the HIV drugs Biktarvy and Genvoya and COVID-19 treatment Veklury.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBanking fallout proves nothing's free from risk, says Patomak Global Partners' Keith NoreikaKeith Noreika, Patomak Global Partners, joins 'The Exchange' to discuss the SVB collapse and banking regulation.
March 19 (Reuters) - Talks over rescuing Credit Suisse (CSGN.S) rolled into Sunday as UBS AG (UBSG.S) sought $6 billion from the Swiss government to cover costs if it were to buy its struggling rival, a person with knowledge of the talks said. The guarantees UBS is seeking would cover the cost of winding down parts of Credit Suisse and potential litigation charges, two people told Reuters. Credit Suisse, UBS and the Swiss government declined to comment. U.S. President Joe Biden's administration moved to backstop consumer deposits while the Swiss central bank lent billions to Credit Suisse to stabilise its shaky balance sheet. There were multiple reports of interest for Credit Suisse from other rivals.
He now faces renewed criticism over his agenda at the Fed, where he oversaw efforts to reduce regulations on regional banks. U.S. regional banks are expected to pay higher rates to depositors to keep them from switching to larger lenders, leaving them with higher funding costs. In 2008, regulators had to contend with billions of dollars in toxic mortgages and complex derivatives sitting on bank books. Currently, regional banks below $250 billion in assets have simpler capital, liquidity and stress testing requirements. "SVB is not a very complicated bank," said Dan Awrey, a Cornell Law professor and bank regulation expert.
An American flag waves outside the U.S. Department of Justice Building in Washington, U.S., December 15, 2020. REUTERS/Al DragoWASHINGTON, Sept 26 (Reuters) - The U.S. Justice Department said on Monday it would appeal a judge's ruling that U.S. Sugar Corp's plans to buy rival Imperial Sugar Co was legal under antitrust law, according to a court filing. Judge Maryellen Noreika of the U.S. District Court for Delaware had ruled for the companies on Friday, rejecting the government's request that she stop the deal from going forward. read moreAsked about the government's indication that it would appeal, U.S. Sugar said: "We look forward to expeditiously closing this acquisition as planned." Register now for FREE unlimited access to Reuters.com RegisterReporting by Diane Bartz and Anirudh Saligrama; Editing by Kim Coghill and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.
A federal judge Friday ruled U.S. Sugar can proceed with its planned purchase of rival Imperial Sugar, rejecting a Justice Department antitrust challenge to the deal. U.S. District Judge Maryellen Noreika in Delaware didn’t immediately release her full opinion, citing a need to protect confidential business information, but she released a one-page public judgment that said the acquisition wouldn’t violate federal antitrust law.
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