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Amarin (AMRN) has announced a settlement agreement with Apotex Inc. that resolves a patent litigation over Apotex’s abbreviated new drug application (ANDA) seeking US approval of a generic form of Vascepa capsules. Shares in Amarin rose 5% in Tuesday’s after-market trading.Amarin’s lead product Vascepa was initially launched in the US in 2013 as an adjunct therapy to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia. A new, cardiovascular risk indication for the fish-oil derivative was approved by the FDA in December 2019 based on the results of the landmark Reduce-It trial.The company is currently appealing to the …read more […]

(Bloomberg) — Oil snapped a two-day gain as a second wave of coronavirus cases in China and a report pointing to a further swelling in U.S. stockpiles cast doubt on the demand outlook in the world’s two largest economies.Futures in New York fell below $38 a barrel after climbing almost 6% over the previous two sessions. Beijing has ordered all schools to close in an escalation of containment measures as its struggles to halt the outbreak that’s already spread to neighboring provinces. China is one of the world’s few energy consumption bright spots, staging a rapid recovery over the past …read more […]

Shares in daily-deal site Groupon (GRPN) rose 4% after-hours on Tuesday after the company reported earning results that surpassed the Street’s very low expectations.Specifically, first quarter non-GAAP EPS of -$1.63 beat Street estimates by $0.28 while revenue of $374.15M beats by $22.45M. Nonetheless revenue still plunged 35.3% year-over-year, while GAAP EPS of -$7.53 fell short of Street expectations by $4.11.Total Gross Billings of $526.66M also represented a significant year-over-year drop of 31.5%, while gross profit was $201.2 million in the first quarter 2020, down 34%.“COVID-19 has had a major impact on our business and we have moved quickly to position …read more […]

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(Bloomberg) — Nintendo Co.’s stock has found a 1-Up in an unexpected place.Shares in the videogame maker have climbed to a new two-year high, driven by rising fears of a coronavirus second wave. With cases expanding worldwide including in the U.S. and China, the stock has broken out of its two-month plateau. Nintendo’s Switch console-handheld hybrid was one of the hit products during global lockdowns, buoyed by the success of laid-back social simulator Animal Crossing: New Horizons.“The stock had been struggling the past two months with demand for stay-at-home stocks dropping as the economy re-opened and the state of emergency …read more […]

Oil prices fell on Wednesday as data showed an increase in U.S. crude and fuel inventories, raising the prospect of oversupply as a potential second wave of the coronavirus pandemic threatened to halt any recovery of demand. Brent crude futures were down 89 cents, or 2.2%, at $40.07 a barrel as of 0348 GMT, and U.S. West Texas Intermediate (WTI) futures fell $1.13, or 2.9%, to $37.25 a barrel. Both benchmarks rose more than 3% on Tuesday, after the International Energy Agency (IEA) raised its 2020 oil demand forecast to 91.7 million barrels per day (bpd) and U.S. …read more […]

(Bloomberg) — Apple Inc.’s head of diversity and inclusion Christie Smith is leaving the iPhone company, according to people familiar with the matter.Last week, Chief Executive Officer Tim Cook said Apple is launching a $100 million Racial Equity and Justice Initiative, adding to the company’s response to the police killing of George Floyd last month. Earlier this month, Cook wrote in a letter to employees and customers that society needs to do more to push equality, particularly for Black people.“To create change, we have to reexamine our own views and actions in light of a pain that is deeply felt …read more […]