In a recent development, a federal judge in New Jersey has issued a ruling rejecting the legal challenges made by Johnson & Johnson and Bristol Myers Squibb against the Biden administration’s Medicare drug price negotiations. This decision marks a significant win for the Biden administration in its efforts to make medications more affordable for seniors.
Business
Peacock, the streaming service owned by Comcast, has announced an upcoming price increase for its subscription plans. The ad-supported option will see a $2 rise to $7.99 a month, while the ad-free offering will also increase by the same amount to $13.99 per month. Additionally, the annual prices for these plans will be $79.99 and
In a move reminiscent of a high-stakes drama on “Succession,” Paramount Global is gearing up to oust CEO Bob Bakish in a strategic maneuver set to reshape the company’s future. This pivotal decision is set to take place on Monday, just before the company announces its earnings post-market close. The objective behind this dramatic move
The Food and Drug Administration recently approved Pfizer’s treatment for a rare genetic bleeding disorder, marking a significant milestone for the company. This groundbreaking gene therapy, known as Beqvez, is the first of its kind to receive clearance in the United States. The approval opens up new possibilities for adults with moderate to severe hemophilia
Honda Motor, along with a group of joint venture partners, has recently announced plans to invest a staggering $11 billion in Ontario, Canada. This investment is aimed at creating a “comprehensive EV value chain” in the region. The new North American electric vehicle epicenter will feature new assembly and battery plants, as well as other
Walgreens recently announced a significant expansion of its specialty pharmacy services by launching a new business unit dedicated to bringing cell and gene therapies directly to U.S. patients. This move comes as chronic diseases continue to rise, necessitating specialized medications that require careful handling and distribution. Impact of Specialty Pharmacies Specialty pharmacies have become a
Boeing’s upcoming quarterly report is anticipated to highlight the repercussions of the recent incident involving the midair loss of a door plug from a 737 Max 9 plane in January. This unfortunate event not only triggered a new safety crisis for the aviation giant but also led to unforeseen financial implications. Analysts are predicting that
PepsiCo recently released its quarterly earnings and revenue, surpassing analysts’ expectations despite facing challenges such as weaker U.S. demand due to recalls and backlash over increased prices. The company reported earnings per share of $1.61, higher than the expected $1.52, and revenue of $18.25 billion, exceeding the anticipated $18.07 billion. Impact of Quaker Oats Recalls
The U.S. Federal Trade Commission made headlines on Monday by taking legal action to prevent the $8.5 billion merger between Coach and Kate Spade’s parent company, Tapestry, and Capri Holdings. This move serves as a temporary roadblock to a deal that would consolidate six major fashion brands – Tapestry’s Coach, Kate Spade, and Stuart Weitzman,
The recent vote by Volkswagen workers in Chattanooga, Tennessee, to join the United Auto Workers (UAW) has been nothing short of historic. With 73% of the vote in favor of union organizing, marking the first successful drive of an automaker outside of Detroit’s Big Three, this milestone victory has significant implications for both the UAW