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☆ California expected to partner with nonprofit Civica Rx to produce its own low-cost insulin, sources say
▼ + stars: | 2022-11-11 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Berkeley-Lovelace-Jr.Jpg | Berkeley Lovelace Jr. | ) www.nbcnews.com time to read: +3 min

California plans to partner with Civica Rx, a nonprofit generic drug company, in the state's effort to produce its own low-cost insulin, according to two people familiar with the matter. Gavin Newsom announced in July that he had approved a budget that would allocate $100 million to allow the state to begin making its own insulin. It'll be the first state to produce insulin for its residents, which experts see as a road map for other states to make the lifesaving medication more affordable. California expects to announce the partnership in mid-December, although it hasn't been finalized and the state could select a different company, the sources said. A Civica Rx spokesperson didn't confirm the plan but said the company welcomes "the opportunity to partner with California."

☆ Pfizer Raises Revenue View on Higher-Than-Expected Covid-19 Vaccine Sales
▼ + stars: | 2022-11-01 | by ( Sabela Ojea | ) www.wsj.com time to read: 1 min

Pfizer, with headquarters in New York, said its operations improved despite seeing a hit from a stronger dollar. Pfizer Inc. raised its revenue outlook for the year on higher-than-expected sales from its Covid-19 vaccine despite reporting a drop in third-quarter revenue. The New York-based drug company on Tuesday said it now expects to end the year with revenue in the range of $99.5 billion to $102.0 billion, as its operations improved despite seeing a hit from a stronger dollar.

The trip includes stops in California on Friday and Oregon on Saturday as Biden positions his party as a champion of consumers and lower healthcare costs at a time that inflation ranks among voters' top concerns. Most forecasts show Democrats with a slight advantage in the Senate and Republicans with a larger advantage in the House. Biden alleged that Republicans will repeal the prescription drug price caps and take away Medicare's ability to negotiate drug prices if they take control. Biden was introduced by Representative Katie Porter, who has grilled bank and drug company executives on their profits in widely viewed Congressional hearings. Healthcare costs were partly to blame in the most recent month, along with food and rent.

☆ Stocks making the biggest moves midday: Hertz, Ford, Keurig Dr Pepper and more
▼ + stars: | 2022-09-27 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves midday:Hertz — Shares of the rental rental company jumped 1.9% after the company announced a partnership with BP's electric vehicle charging unit that will put thousands of charging stations at Hertz locations. Many of the stations will be used to charge Hertz's growing fleet of electric vehicles, but some will be available for public use. Keurig Dr Pepper — The beverage company shed about 3% after being downgraded by Goldman Sachs to a neutral rating from a buy. Lucid — The electric vehicle stock climbed 1.4% on Tuesday after Cantor Fitzgerald initiated coverage of Lucid with an overweight rating. Ark Invest's Cathie Wood also told CNBC Tuesday she is sticking by her bullish call on Tesla, saying "our confidence couldn't be higher as we see the movement towards electric vehicles accelerates."

☆ Brett Favre told Mississippi governor he would not ‘take No for answer’ over volleyball stadium, court filing shows
▼ + stars: | 2022-09-26 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Dilanianmug.Jpg | Ken Dilanian | ) www.nbcnews.com time to read: +6 min

Phil Bryant on Sept. 4, 2019 about funding the volleyball center at the University of Southern Mississippi’s main campus in Hattiesburg. “Use of these funds (is) tightly controlled,” Bryant texted Favre on July 28, 2019, according to the filing. Favre also secured $3.2 million for a drug company in which he had invested, according to court records. Favre has also denied wrongdoing through his lawyer, who acknowledged that the ex-Packer has been interviewed by the FBI. He added that Favre behaved honorably and never knew the state grants he was seeking were from the federal welfare program.

A key figure in Mississippi’s welfare spending scandal has pleaded guilty to federal fraud charges under an arrangement that signals he may be cooperating, according to court records. John Davis directed Mississippi’s welfare agency while it doled out millions of dollars in federal welfare money to projects investigators now say were improper, including a new volleyball facility requested by former NFL quarterback Brett Favre that benefited his daughter. Phil Bryant, who has consistently denied that he was aware that federal welfare money was being used for the projects, in violation of state and federal laws. Favre has also denied wrongdoing through his lawyer, who acknowledged that Favre has been interviewed by the FBI. There is no indication Favre is a target of the investigation, and he says he did not know the state grants came from federal welfare funds.

☆ We went inside the lab at Vertex, a company that dodged the market downturn to become one of the best-performing biotechs of 2022
▼ + stars: | 2022-09-21 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +10 min

A mosaic of human cells inside Vertex Pharmaceuticals' cell and gene-therapy laboratory. The four-story, 267,000-square-foot space is home to Vertex's cell and gene-therapy unit, with about 375 people now residing in the modern-industrial building. That has led to going after unrelated diseases like sickle cell, diabetes, muscular dystrophy, kidney disease, and pain. For instance, Vertex's approach to sickle cell is led by its CRISPR gene-editing program. Vertex PharmaceuticalsThe next test of Vertex's strategy will be an experimental treatment called exa-cel, its CRISPR gene-editing program for sickle cell.

☆ The Inflation Reduction Act aims to lower drug costs — but here’s how Big Pharma could get around it
▼ + stars: | 2022-09-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Berkeley-Lovelace-Jr.Jpg | Berkeley Lovelace Jr. | ) www.nbcnews.com time to read: +7 min

The Inflation Reduction Act is set to lower drug prices for millions of people in the United States — but experts fear pharmaceutical companies could exploit loopholes in the bill, ultimately keeping prescription costs high for many. The tactics may ultimately threaten the law’s ability to lower drug costs for consumers. Higher prices for new drugsOther experts are concerned about how companies might abuse the inflation rebate rule in the health law. The provision, which takes effect next year, imposes a rebate on drug manufacturers that raise the prices of their medications faster than inflation. By releasing new drugs at higher prices, drug companies will be able to make up for any lost revenue that they would normally receive from steadily raising prices each year, she said.

☆ Here's how we're positioned in four sectors and some of the stocks we like in each
▼ + stars: | 2022-09-15 | by ( Krystal Hur | ) www.cnbc.com time to read: +4 min

Here's quick look at some economic downturn-resistant sectors in consumer staples and health care; our energy inflation hedge; and how to play out-of-favor tech. We're talking about Club names Apple (AAPL), Amazon (AMZN), Microsoft (MSFT) and Google-parent Alphabet (GOOGL) to name a handful. All four of those big tech stocks are rated as a 1 , meaning we view them as buys at these levels. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

The Mississippi state auditor said Favre never gave the speeches and demanded the money back, with interest. In an interview with the website Mississippi Today, Bryant said he never knew the grants came from welfare money. The former head of the state welfare agency, John Davis, has pleaded not guilty to state charges of bribery and conspiracy, and law enforcement officials say the investigations continue. Favre defended himself in a series of tweets last year against allegations from White, the state auditor, that he accepted state money for speeches he never intended to give. Marcus Dupree, a former college football star, also received $370,000 in welfare funds, which prosecutors say partly went to fund his horse ranch.

The 26-year-old had been recently removed from his parents' health insurance plan and was about $300 short of the $1,300 he needed to pay for his insulin medication, his mother said. Though drugmakers often offer programs that can lower the out-of-pocket cost of insulin for both insured and uninsured patients, the financial burden can still be devastating for some. Why insulin remains unaffordableBut why does insulin — a medication that’s been around for more than 100 years — remain unaffordable for many people in the U.S.? Meanwhile, state and federal lawmakers are pushing for legislation that would lower the out-of-pocket cost for patients on insulin. She is pushing for more states to adopt the Alec Smith Insulin Affordability Act, which provides an emergency 30-day supply of insulin to patients for $35.

☆ Nancy Pelosi's husband just invested millions in 2 tech companies with lots at stake on Capitol Hill
▼ + stars: | 2021-07-12 | by ( Kimberly Leonard | Dave Levinthal | ) www.businessinsider.com time to read: +8 min

The House speaker's husband, Paul Pelosi, made two million-dollar stock trades. Pelosi's husband buys up more stocksHouse Speaker Nancy Pelosi's husband, Paul Pelosi, bought stocks in Google's parent company, Alphabet, and in Nvidia Corporation, which designs graphics-processing units for the gaming market. Drew Hammill, the speaker's spokesman, said she did not own any stock and complied with all disclosures, which require members of Congress to post stock trades for spouses and dependent children. Rep. Pat Fallon, a Republican from Texas, in a group photo with freshman members of the House Republican Conference on the House steps of the US Capitol on January 4. By federal law, members of Congress have 30 days from when they become aware of a stock trade to formally disclose it.

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