Akorn Inc.’s CEO Rajat Rai is stepping down, following a court ruling that allows Fresenius SE to walk away from a $4.3 billion acquisition of the generic pharma manufacturer. Delaware Supreme Court ruled that a decline in Akorn’s revenue and its other financial weaknesses that emerged prior to the acquisition’s closing was reason enough for German healthcare firm Fresenius SE to have the right to cancel the deal.Rai agreed with company directors that his departure “will be treated as a resignation for good reason,” according to an Akorn's filing Friday with the U.S. Securities and Exchange Commission. 

Investors may know Eli Lilly (LLY) as a venerable member of the Big Pharma club whose bread and butter now comes from diabetes treatments.But analysts say Lilly stock is due for a boost from the drug giant's burgeoning migraine prevention and immunology medicines. READ MORE...

Over the last six months, drug manufacturer AbbVie (NYSE: ABBV) has been confined to a downward trend with a channel defining the different cycles of the trend.Given the current situation is showing such a scenario, it could be a sign that the stock is getting ready to get hit with another downswing. From a fundamental perspective, AbbVie as a company has been performing far better than its stock would indicate.

Amgen Inc. is slashing prices of its cholesterol fighting drug Repatha, amidst rising healthcare costs and increased regulatory surveillance to protect patients from exorbitant medicine prices. The biopharmaceutical company will reduce the U.S. list price of Repatha by -60% - from more than $14,000 a year to $5,850.In Q2, revenue from Repatha was $148 million – which beat estimates, was still much lower compared to analysts' previously high expectations about its success.

A federal magistrate who reviewed a test-case of the class action suit though which thousands of municipalities are seeking billions of dollars in damages has deemed that the injuries claimed by the plaintiffs cannot be ignored without a further hearing. Among the many companies named in the suit are Johnson & Johnson (JNJ), Purdue Pharma Inc., McKesson (MCK), and AmerisourceBergen Corp (ABC), some of whom make drugs and some of whom distribute them.The suit alleges that the companies understated the risks of the drugs, overstated the benefits, and ignored suspiciously high volumes of the drugs being ordered. President Trump and other officials have taken action to stamp out the opioid epidemic which has escalated to ghastly proportions, claiming around 100 American lives every day.  Parallels exist between the current lawsuit and the Big Tobacco case of the 1990s, in which governments were able to extract a $246 Billion settlement from tobacco companies.

Geron Corp. shares plunged more than -70% on Thursday, as Johnson & Johnson's Janssen Biotech unit ended partnership with it on the cancer drug imetelstat. About the collaboration not coming through,  Janssen said, "The decision not to continue the collaboration is the result of a strategic portfolio evaluation and prioritization of assets within the robust Janssen portfolio" ." Geron's stock price  dropped to $1.99 at 9:44 a.m. in New York, with the company losing  $750 million in market value.    

That marks a whopping +48% increase since last year. Apple went ahead with $45 billion worth of buybacks during the first half of 2018, which is triple the amount its spent during the same time period last year.Other companies with substantial share repurchase increases includes Amgen, Cisco, AbbVie and Oracle (as mentioned in the Goldman Sachs report).  For the full year 2018, share buyback authorizations among all US companies will exceed $1 trillion for the first time ever (according to Goldman Sachs projections).

pharmaceutical giant  GlaxoSmithKline Plc.  is reportedly seeking bids for its Indian consumer-health arm. According to a Bloomberg report, Nestle SA, PepsiCo Inc. and Reckitt Benckiser Group Plc.The UK Drugmaker had earlier indicated its plans to review its strategies related to Horlicks and other nutritional products.

Ongoing trade disputes, political divisiveness, geopolitical threats, and tense feelings about Russia meddling have no doubt weighed on investor sentiment.Uncertainty hangs over the market like a dark cloud. But there's sun poking through those dark clouds, and it's none other than U.S. corporate earnings reports!

Here is a brief summary of the news – and all positive! China apparently decided to print more money, build more speed trains, wonderful airports, more freeways.)  One of the largest European banks – UBS - just reported great earnings.  Manufacturing index out of Germany is much better than expected.  On this side of the pond, earnings continue to impress – Google yesterday was a pleasant surprise, but others (Verizon, Biogen, Eli Lily, Lockheed Martin) are doing very well. 10 year Treasuries yield is approaching 3% again and the gap between 2-year Treasuries and 10-years is increasing again. Are we out of the woods?