Pharmaceutical drugs in the United States and that is why many Peoples Health care plans have risen so people have to pay more out of pocket for what they need to treat various conditions. Because there has been a lot of anger that has emerged as a result of that, there is a fair amount of discussion in congress about possibly finally doing something to try to understand why prices are so high and to perhaps consider price controls to reduce them. The pharmaceutical industry, one of the biggest injuries in the United States in manufacturing, is trying to stop legislation that would hurt their part of the sector. We looked at all the lobbyists that are convening on capitol hill to try to protect their bottom lines and how the net effect may be that legislation may not pass that will significantly curb the growth. Pedro let me read you a line from the story to help people understand how much investment from the industry is going on. We are building a profit on the line. The Health Produc
Department of justice is responsible to congress. Mark european equities, just under 30 minutes until the finish of the session. You know the function. Macro movers come equities on the left. Look at the ftse up by one half of 1 . Nine Straight Days of records, that is a record run. Those are the currencies that are falling. The euro and pound against the dollar, today, sterling earlier falling below 1. 21, 123 is the key level which we will explain. Bonds, commodities, your final three columns. Corporate news, valiant Pharmaceuticals International agreeing to sell three skincare brands to the worlds biggest cosmetic company, 1. 3 billion. It wants to pay down the 30 billion in debt, that is valeant, embroiled in scandals about his drugs high process and regulatory investigations. Loreal paid a high price for the brand to challenge nestle in medicated skincare, the largest category in the cosmetics industry, accounting for more than one third of the global market, loreal shares down 4
I cannot wait to get started. Like a racehorse this morning, coming back with a number. Thee find the position on holding in energy. They will produce the holding. Clarifying their decision because we are breaking issues on the anna dental deal. Anna the story we ran is the former french natural gas mama 77 owned by rwe. Also getting some numbers. 45. 8 billion. At 1adjusted net income billion and 1. 3 billion. The estimate had been 810. 8 million. Analysts looking for more detail on the strategy whether a that is different, cap what expenditure, on the subject of energy they are saying that they clarified they can cut energy to 51 . The oh 77 right now. Just to reiterate we have been reporting that it is said to be eyeing a bid. Manus 1. 4 billion worth, the split the rights are going to the one new every five existing. Price 42. 5. Finishing trading at 52. 5. The kind of discount youre looking at more than 10 euros. 42. 5 is where we are looking at in terms of the rights issue. The t
Welcome to inside story. Im ray suarez. In the past few weeks, americans have been treated to the spectacle of an unapologetic corporate chief confidentably justifying his decision to take a 62yearold drug and start charging 50 times its regular price from 13. 50 to 750. The drug startup made mar sti mn strel lrvelli look like glax glh kline, look like a poster boy. Since it has no counterpart, its developer, touring pharmaceuticals, can charge what they want. Even by a factor of 50. Successful drug company, profitable drug company. I see where it looks greedy but there are a lot offal trui f altruistic issues. Critics attack touring and others like it for this basic Business Model. These companies are simply acquiring all therapies and repackaging them and saying well now were going to set the price at this amount, and thats exactly whats going on. This company isnt the only drug maker boosting prices. This past summer, a tuberculosis drug from 500 for 30 pills to nearly 10,000. Valia
Some people are stopping pills, medications altogether. Is there going to be a desire for shareholder value, prescriptions and profits . Its the inside story. Welcome to inside story. Im ray suarez. In the past few weeks, americans have been treated to the spectacle of an unapologetic corporate chief confidentably justifying his decision to take a 62yearold drug and start charging 50 times its regular price from 13. 50 to 750. The drug startup made mar stin martin strel lrv elli look like gla glaxo smith kline, look like a poster boy. Since it has no counterpart, its developer, touring pharmaceuticals, can charge what they want. Even by a factor of 50. Successful drug company, profitable drug company. I see where it looks greedy but there are a lot offal truic of altruistic issues. Critics attack touring and others like it for this basic Business Model. These companies are simply acquiring all therapies and repackaging them and saying well now were going to set the price at this amount