White House pulls Antoni's nomination to head Bureau of Labor Statistics - report

 The White House confirmed to FOX Business that President Donald Trump has withdrawn his nomination of E.J. Antoni to lead the Bureau of Labor Statistics (BLS).

CNN first reported the withdrawal of Antoni’s nomination, citing three sources. One source said Sens. Susan Collins, R-Maine, and Lisa Murkowski, R-Alaska, declined to meet with Antoni. That signaled possible concerns about his nomination.

The BLS came under scrutiny after a weaker-than-expected July jobs report showed just 73,000 jobs added, far short of the 110,000 estimated by LSEG economists. Employment in May and June was also reduced by a combined 258,000 jobs.

Trump fired BLS Commissioner Erika McEntarfer, alleging the jobs data was politically manipulated.

President Donald Trump and economist E.J. Antoni in the Oval Office after Antoni's nomination to head the Bureau of Labor Statistics. (White House / Fox News)

Afterward, Trump nominated Antoni, chief economist at the Heritage Foundation, for the role. In an Aug. 4 interview with Fox News Digital, Antoni argued the BLS’s methodology, economic modeling and statistical assumptions were fundamentally flawed.

Senate Health Education, Labor and Pensions (HELP) Committee Chairman Bill Cassidy told FOX Business he appreciated meeting with Antoni and was looking forward to his hearing and discussing ideas to reform BLS.

"The status quo is not working. When BLS fails to deliver accurate jobs data, it has serious implications for families’ pocketbooks," Cassidy said. "As Chairman of the HELP Committee, I will work with President Trump to fix BLS so it can deliver accurate, reliable economic data to the American people."

Trump’s choice of Antoni sparked concerns among economists about the integrity of BLS data under his leadership.

"The nominee will result in a surge in demand for private label data," Joe Brusuelas, chief economist at RSM US, told Reuters in August.

Alex Jaquez, head of policy and advocacy at Groundwork Collaborative, told Reuters the nomination was a "clear assault on independent analysis" with far-reaching implications for the reliability of U.S. economic data.

In August, before his nomination, Antoni told Fox News Digital the flaws in BLS data had been evident for three years and remain unresolved.

The BLS process includes revisions meant to improve accuracy over time as more data is collected. Each monthly jobs report revises the prior two months once additional employer information is received.

The system offers the public an early snapshot of economic conditions, followed by a fuller picture through later revisions.

Falling response rates over the past decade have left smaller samples, increasing the size of revisions — especially during volatile periods.

https://www.foxbusiness.com/politics/white-house-pulls-nomination-ej-antoni-head-bureau-labor-statistics

Pfizer – U.S. drug pricing deal boosts EU drugmakers

 Shares in the UK's biggest drug companies led the way on Wednesday, following news overnight that the US government had agreed its first deal on "most favoured nation" drug pricing with Pfizer.

Topping the FTSE 100, AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) shares leapt 6% in early morning trading, followed by Hikma Pharmaceuticals PLC (LSE:HIK, OTC:HKMPF) at just under 5%, while GSK PLC (LSE:GSK, NYSE:GSK) rose 2.1% as analysts said it had slightly more exposure to Medicaid price discounts.

In an announcement from the White House, President Trump said Pfizer was the first pharma company to start offering "major discounts" to US customers on most of its prescription drugs.

The US company said it had been given a three-year "grace period" during which time its products will not face tariffs, provided it provides these discounts and ups investment in US manufacturing.

Pfizer said it would offer a "large majority" of its primary care and some select speciality medications at discounts of up to 85%, averaging around 50%.

The agreement "provides certainty from tariffs and clarity on pricing framework that furthers Pfizer’s ability to expand investment in US-based innovation and return manufacturing to the US," it said. 

Trump said talks were underway with other big pharma companies, which may face an additional 5-8% tariff if no trade agreements are reached.

Last night, shares in Pfizer rose 6.8% and the news seemed to provide a shot in the arm for the rest of the sector, with gains above 3% for Merck & Co, Eli Lilly, AbbVie and Amgen.

There's lots of analyst commentary on the Trump administration's Pfizer deal on 'most favoured nation' (MFN) pricing from last night. 

Analysts at JPMorgan said they see the agreement on MFN as "likely to be replicated by EU pharma companies" and should result in a "broadly manageable impact".

With Pfizer agreeing to MFN prices on almost all of their portfolio through the Medicaid channel, in line with President Trump’s request
in July, JPMorgan said Medicaid exposure is "relatively modest" for EU pharma companies.

AstraZeneca was calculated to have 5% of sales with Medicaid exposure, in line with other European giants like Novartis, Roche and Novo Nordisk, while GSK has a higher exposure of around 10-15% due to its HIV drugs.

With Medicaid net prices typically around 20-30% higher than the EU, adoption of MFN pricing for Medicaid by EU pharma is estimated to result in an average 1% negative impact on group sales and a 2% hit to group earnings, before any potential cost mitigation measures, the analysts said.

For new drug launches, Pfizer committed to pricing new drugs in the US in-line with MFN countries, which JPMorgan sees as "broadly manageable for EU Pharma if agreed to".

https://www.proactiveinvestors.co.uk/companies/news/1079490/astrazeneca-and-other-uk-pharma-boosted-by-trump-s-first-drug-discount-deal-with-pfizer-1079490.html

AstraZeneca (AZN) and Daiichi Sankyo's Enhertu Advances in FDA Review

 AstraZeneca (AZN) and Daiichi Sankyo have moved a step closer to expanding the U.S. usage of their cancer treatment, Enhertu. The FDA accepted their application to include the drug as a pre-surgery option for patients with HER2-positive stage 2 or 3 breast cancer, alongside other treatments like paclitaxel. Backed by positive results from the DESTINY-Breast11 Phase 3 trial, the FDA has set May 18, 2026, as the target date for a decision that could introduce a new preoperative therapy option.

https://www.gurufocus.com/news/3126893/astrazeneca-azn-and-daiichi-sankyos-enhertu-advances-in-fda-review

Walmart rolls out largest private label overhaul to remove synthetic dyes and preservatives

 Walmart said on Wednesday it would remove synthetic dyes from its U.S. private-label foods, including the Great Value and bettergoods brands, by January 2027, joining several other companies amid pressure from the Trump administration.

Major packaged food makers, including PepsiCo, Campbell's and Conagra Brands, have made similar announcements in recent months, in response to the administration's "Make America Healthy Again" initiative

Health Secretary Robert F. Kennedy Jr. has cracked down on ultraprocessed food and chemical additives, saying they have led to a national crisis of childhood obesity, diabetes, cancer, mental health disorders, allergies and neurodevelopmental conditions like autism.

Walmart also plans to eliminate more than 30 other ingredients such as preservatives, artificial sweeteners and fat substitutes from its private-label assortment.

The company said the move reflected consumer demand for simpler, more transparent ingredients, adding that 90% of its private-brand foods are synthetic dye-free currently.

"Our customers have told us that they want products made with simpler, more familiar ingredients — and we’ve listened," said Walmart U.S. president John Furner.

The retailer is working with private-brand suppliers to adjust formulations and source alternative ingredients. Reformulated products, from canned and frozen foods to cereals and salads, will begin rolling out in the coming months, Walmart said.

Walmart's private-label lineup is anchored by its largest brand, Great Value, alongside other store brands such as Marketside, Freshness Guaranteed, and the premium bettergoods, which have been a big draw among bargain-hunting Americans.

Its membership chain Sam's Club said in June it would remove artificial colors, aspartame and other ingredients from its Member's Mark brand by the end of the year.

https://ca.finance.yahoo.com/news/walmart-remove-synthetic-dyes-across-121500377.html

Repligen higher as HSBC initiates at Buy

 HSBC initiated coverage on Repligen (NASDAQ:RGEN) with a Buy rating and a price target of $150.00 on Wednesday. 

The investment bank views Repligen as offering "pureplay exposure to bioprocessing," which it describes as one of the highest growth areas in the sector. HSBC estimates Repligen will achieve organic revenue growth in the low to mid-teens over the next three years.

This projected growth rate would outpace the broader bioprocessing market by approximately 5% and exceed the overall life sciences market by 5-8%, according to HSBC’s analysis. The firm attributes Repligen’s competitive advantage to its innovation speed, portfolio breadth in bioprocessing, and agility.

HSBC also notes that a "local-for-local approach" amid tariffs and regulatory barriers creates tailwinds for new equipment and consumable orders. This positioning helps Repligen maintain the "right balance to outpace its larger peers."

The firm identified three key issues facing Repligen: sustainability of recent order growth momentum, potential constraints from an elongated biotech funding cycle, and competitive positioning against industry giants such as Thermo Fisher and Danaher.

https://www.investing.com/news/analyst-ratings/hsbc-initiates-coverage-on-repligen-stock-with-buy-rating-150-target-93CH-4265412

Fortress Biotech stock plummets after FDA rejects med

Fortress Biotech Inc (NASDAQ:FBIO) stock plunged 33.7% Wednesday after the company announced that the U.S. Food and Drug Administration (FDA) issued a Complete Response Letter for its Menkes disease treatment.


The FDA rejected the New Drug Application for CUTX-101 (copper histidinate), citing current Good Manufacturing Practice (cGMP) deficiencies at the manufacturing facility. The regulatory setback affects the drug intended to treat Menkes disease, a rare genetic disorder, in pediatric patients.

Fortress Biotech noted that the Complete Response Letter did not identify any concerns regarding the drug’s efficacy or safety data. The manufacturing facility has already provided responses to the FDA following a September 2025 re-inspection, and Sentynl Therapeutics, which assumed responsibility for CUTX-101’s development in December 2023, plans to request a meeting with the FDA to discuss resubmission.


The CUTX-101 application had previously been granted Priority Review status by the FDA. Clinical trials had shown significant improvement in overall survival for Menkes disease patients who received early treatment with the drug.

Under the agreement with Sentynl, Cyprium Therapeutics, a majority-owned subsidiary of Fortress, remains eligible to receive a Rare Pediatric Disease Priority Review Voucher if the drug is approved. Additionally, Cyprium could receive royalties on net sales and up to $129 million in development and sales milestones.

https://www.investing.com/news/stock-market-news/fortress-biotech-stock-plummets-after-fda-rejects-menkes-disease-drug-93CH-4266668

Ventyx Biosciences stock initiated with Buy rating at Clear Street

  Ventyx Biosciences Inc (NASDAQ:VTYX) received a Buy rating initiation from Clear Street on Tuesday, with a price target of $11.00. 

The research firm cited upcoming catalysts for NLRP3 inhibitors expected in the fourth quarter of 2025 that could drive valuation and partnership opportunities for the biopharmaceutical company.

Clear Street highlighted VTX2735, Ventyx’s peripheral drug, which may advance to pivotal trials for recurrent pericarditis following data expected in the fourth quarter of 2025. The firm noted this indication represents a potential $3 billion-plus U.S. total addressable market.

The analyst report also mentioned VTX3232, a CNS-penetrant NLRP3 inhibitor with fourth-quarter 2025 data readouts in obesity-related cardiometabolic diseases that will trigger Sanofi’s right-of-first-negotiation window.

https://www.investing.com/news/analyst-ratings/ventyx-biosciences-stock-initiated-with-buy-rating-at-clear-street-93CH-4264781