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J&J to buy remaining stake in Verb Surgical to strengthen digital surgery portfolio

Bolstering its Ethicon unit, which makes surgical equipment, J&J in 2015 formed an independent company called Verb Surgical with Verily to create smaller, smarter and less costly robotic-assisted systems for surgery. The deal for Verb Surgical is expected to close in the first half of 2020, J&J said without disclosing deal terms. J&J pushed further into the surgical robotics space with its $3.4-billion acquisition of Auris Health Inc earlier this year. …read more […]

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Boeing supplier Spirit AeroSystems to suspend production of 737 MAX parts

Spirit said the move, which comes after Boeing said earlier this week it would halt production of the grounded jet in January, would hurt its financial condition and cash flow. “Because revenue from 737 aircraft components represents more than 50 percent of Spirit’s annual revenue, this suspension will have an adverse impact on Spirit’s business, financial condition, results of operations, and cash flows,” the company said. Spirit, which makes the MAX fuselage, pylons, thrust reverser, wing leading edges and engine nacelles, has continued to churn out parts for the jet at a rate of up to 52 units …read more […]

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Forget Rate Decisions. Loonie Traders Bank on Canada Immigration

(Bloomberg) — In an era of low global interest rates, currency traders will have to look elsewhere for an impetus. In Canada, they can bank on population growth.The flood of immigrants and non-permanent residents to levels not seen in a century has been one of the main drivers supporting Canada’s economic expansion over the past several years. That has kept the Bank of Canada as an outlier in the global easing trend as it held its policy rate unchanged, bolstering the allure of the loonie.“These high levels of immigration — if they are to continue and help support growth — …read more […]

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Business News

Novartis wins Medicaid approval for new sickle cell drug in key U.S. states

Novartis AG has secured Medicaid coverage for a pricey new sickle cell disease therapy in two U.S. states just weeks after winning U.S. approval, following an early campaign to convince local officials of its value, according to a company executive and a Reuters review of public filings. The approvals from the Florida and Alabama Medicaid health programs for the poor and disabled mark exceptionally fast acceptance for the treatment, which can cost up to $113,000 an

…read more […]

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Trading Ideas

Novartis wins Medicaid approval for new sickle cell drug in key U.S. states

The approvals from the Florida and Alabama Medicaid health programs for the poor and disabled mark exceptionally fast acceptance for the treatment, which can cost up to $113,000 annually for an individual patient, excluding discounts, said Ameet Mallik, who heads the Swiss drugmaker’s oncology division. In November, the U.S. Food and Drug Administration approved Adakveo and Global Blood Therapeutic Inc’s Oxbryta, which carries a list price of $125,000 per year. …read more […]