Emirates NBD PJSC (EMIRATES.DFM) said Thursday that it plans to sell up to 2.2 million shares in FTSE 100-listed NMC Health PLC, or a 1.04% stake in the company, via an accelerated bookbuild.
The Dubai-based bank said the final number of shares to be placed and
the price will be agreed at the close of the bookbuild process, which
will be launched immediately.
https://www.marketscreener.com/NMC-HEALTH-PLC-10352304/news/Emirates-NBD-Plans-to-Sell-Up-to-1-04-Stake-in-NMC-Health-29881962/
Thursday, January 23, 2020
PureTech Health Cuts Karuna Therapeutics Stake to 20.4%
PureTech Health PLC said Thursday that it has cut its stake in Boston-based Karuna Therapeutics to 20.4%, raising $200 million in cash.
PureTech, a Boston-based, London-listed biotechnology company, said it sold 2.1 million Karuna shares to Goldman Sachs Group, after which it continues to hold 5.3 million shares in the Nasdaq-listed company. PureTech continues to have a right to royalty payments on net sales of any commercialized product covered by a license granted to Karuna, it said.
PureTech said the sale provides it with additional cash to fund its growth.
https://www.marketscreener.com/PURETECH-HEALTH-PLC-22619613/news/PureTech-Health-Cuts-Karuna-Therapeutics-Stake-to-20-4-29879222/
PureTech, a Boston-based, London-listed biotechnology company, said it sold 2.1 million Karuna shares to Goldman Sachs Group, after which it continues to hold 5.3 million shares in the Nasdaq-listed company. PureTech continues to have a right to royalty payments on net sales of any commercialized product covered by a license granted to Karuna, it said.
PureTech said the sale provides it with additional cash to fund its growth.
https://www.marketscreener.com/PURETECH-HEALTH-PLC-22619613/news/PureTech-Health-Cuts-Karuna-Therapeutics-Stake-to-20-4-29879222/
Intuitive Surgical EPS beats by $0.10, beats on revenue
Intuitive Surgical (NASDAQ:ISRG): Q4 Non-GAAP EPS of $3.48 beats by $0.10; GAAP EPS of $2.99 beats by $0.19.
Revenue of $1.28B (+21.9% Y/Y) beats by $10M.
Shares +0.2%.
https://seekingalpha.com/news/3534105-intuitive-surgical-eps-beats-0_10-beats-on-revenue
Gilead helps Nasdaq rebound on coronavirus news
The Nasdaq composite is back in the green, up 0.7% from its intraday low, helped by the rally in Gilead Sciences (GILD +0.6%) on 30% higher volume on reports that
it is evaluating its experimental Ebola candidate, Nuc inhibitor
GS-5734, for the potential treatment of 2019-nCov infection, the
coronavirus causing the current outbreak in China.
https://seekingalpha.com/news/3534077-gilead-helps-nasdaq-rebound-on-coronavirus-news
https://seekingalpha.com/news/3534077-gilead-helps-nasdaq-rebound-on-coronavirus-news
Trump ‘going to look’ at Medicare cuts
President Donald Trump is open to cutting back entitlement programs like Medicare, he told CNBC reporter Joe Kernen in a much-talked-about interview at the World Economic Forum in Davos, Switzerland.
Four things to know about what President Trump said in the interview:
1. When asked if entitlement programs would ever be targeted for spending reductions, President Trump told Mr. Kernen, “At some point they will be.” He added that any changes would happen “toward the end of this year.” When asked specifically about Medicare, he said, “We’re going to look.”
2. The president didn’t elaborate on how or what aspects of the programs he would look at for potential reductions.
3. Coverage of the interview from The New York Times notes that the cuts would help reduce the federal deficit, which topped $1 trillion last year, the highest level since 2012. The New York Times credits this increase to more tax cuts and spending.
4. The New York Times report also notes that President Trump proposed spending reductions in entitlement programs in his last budget. An analysis from the nonprofit Committee for a Responsible Federal Budget estimated his 2020 budget proposal included roughly $575 billion in total Medicare spending reductions.
https://www.beckershospitalreview.com/finance/trump-going-to-look-at-medicare-cuts.html
Four things to know about what President Trump said in the interview:
1. When asked if entitlement programs would ever be targeted for spending reductions, President Trump told Mr. Kernen, “At some point they will be.” He added that any changes would happen “toward the end of this year.” When asked specifically about Medicare, he said, “We’re going to look.”
2. The president didn’t elaborate on how or what aspects of the programs he would look at for potential reductions.
3. Coverage of the interview from The New York Times notes that the cuts would help reduce the federal deficit, which topped $1 trillion last year, the highest level since 2012. The New York Times credits this increase to more tax cuts and spending.
4. The New York Times report also notes that President Trump proposed spending reductions in entitlement programs in his last budget. An analysis from the nonprofit Committee for a Responsible Federal Budget estimated his 2020 budget proposal included roughly $575 billion in total Medicare spending reductions.
https://www.beckershospitalreview.com/finance/trump-going-to-look-at-medicare-cuts.html
California considers labeling acetaminophen a cancer risk
California is considering labeling one of the most commonly used drugs on the market a cancer risk, USA Today reported.
Acetaminophen, the active ingredient in popular pain relief drugs including Tylenol, Excedrin and Midol, has been under review in California for years because of some studies suggesting it causes an increased risk of some forms of cancer.
This spring, a panel of scientists appointed by California Gov. Gavin Newson will hold a public hearing to decide whether acetaminophen should be added to a list of about 900 other chemicals the state considers a cancer risk, according to USA Today.
A California law called Proposition 65 requires the state to warn its residents about chemicals that might cause cancer. Adding acetaminophen to the list wouldn’t ban it, but it would require any drugs containing it to have a carcinogen warning label.
More than 100 studies have hinted that acetaminophen could cause an increased risk of cancer, but state regulators say it is difficult to isolate the risk from the drug from other risk factors, such as smoking.
The International Agency for Research on Cancer reviewed acetaminophen in both 1990 and 1999 and both times decided not to list it as a carcinogen, USA Today reported.
The FDA has told state officials that labeling acetaminophen a carcinogen would be “false and misleading” and even illegal.
https://www.beckershospitalreview.com/pharmacy/california-considers-labeling-acetaminophen-a-cancer-risk.html
Acetaminophen, the active ingredient in popular pain relief drugs including Tylenol, Excedrin and Midol, has been under review in California for years because of some studies suggesting it causes an increased risk of some forms of cancer.
This spring, a panel of scientists appointed by California Gov. Gavin Newson will hold a public hearing to decide whether acetaminophen should be added to a list of about 900 other chemicals the state considers a cancer risk, according to USA Today.
A California law called Proposition 65 requires the state to warn its residents about chemicals that might cause cancer. Adding acetaminophen to the list wouldn’t ban it, but it would require any drugs containing it to have a carcinogen warning label.
More than 100 studies have hinted that acetaminophen could cause an increased risk of cancer, but state regulators say it is difficult to isolate the risk from the drug from other risk factors, such as smoking.
The International Agency for Research on Cancer reviewed acetaminophen in both 1990 and 1999 and both times decided not to list it as a carcinogen, USA Today reported.
The FDA has told state officials that labeling acetaminophen a carcinogen would be “false and misleading” and even illegal.
https://www.beckershospitalreview.com/pharmacy/california-considers-labeling-acetaminophen-a-cancer-risk.html
23andMe to cut 14% of staff as business slows
Home DNA testing services provider 23andMe (DNA) plans to terminate 100
people, 14% of its workforce, in response to weakening sales. Most of
the cuts will affect operations teams that were focused on growth and
scaling efforts.
CEO Anne Wojcicki says she has been surprised with the market’s softness, adding that privacy concerns could be a factor.
The first indication of a slowdown surfaced this
past summer when DNA sequencing gear maker Illumina CEO Francis deSouza
said, during an earnings call, that the entire market was down. Its
customers include 23andMe.
Molecular diagnostic firms down today: Anixa Biosciences (ANIX -5.2%), Guardant Health (GH -2.4%), Biocept (BIOC -1.6%), Precipio (PRPO -0.6%)
https://seekingalpha.com/news/3534047-23andme-to-cut-14-of-staff-business-slows
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