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1. Change at the top for Biogen after Alzheimer's drug flops -

Biogen will replace its CEO and largely abandon marketing of its controversial Alzheimer's drug Aduhelm less than a year after the medication's launch triggered a backlash from experts, doctors and insurers.

2. FDA panel narrowly sides against experimental ALS drug -

WASHINGTON (AP) — Federal health advisers on Wednesday narrowly ruled against an experimental drug for the debilitating illness known as Lou Gehrig's disease, a potential setback for patient groups who have lobbied for the medication's approval.

3. Biogen tumbles after Medicare lays out Aduhelm coverage plan -

Shares of Biogen slid Wednesday, a day after federal regulators slapped coverage limitations on the drugmaker's new Alzheimer's disease treatment.

The Centers for Medicare and Medicaid Services said Tuesday after markets closed that patients taking Biogen's Aduhelm will have to also participate in clinical trials to assess the drug's effectiveness in order for Medicare to cover the cost.

4. Medicare limits coverage of $28,000-a-year Alzheimer's drug -

WASHINGTON (AP) — Medicare said Tuesday it will limit coverage of a $28,000-a-year Alzheimer's drug whose benefits have been widely questioned, a major development in the nation's tug-of-war over the fair value of new medicines that offer tantalizing possibilities but come with prohibitive prices.

5. Medicare told to reassess premium hike for Alzheimer's drug -

WASHINGTON (AP) — U.S. health secretary Xavier Becerra on Monday ordered Medicare to reassess a big premium increase facing millions of enrollees this year, attributed in large part to a pricey new Alzheimer's drug with questionable benefits.

6. Biogen cuts the price tag on its Alzheimer's drug in half -

Biogen is slashing the price of its Alzheimer's treatment in half months after it debuted to widespread criticism for an initial cost that could reach $56,000 annually.

The drugmaker said Monday that it will cut the wholesale acquisition cost of the drug by about 50% next month. That means the annual cost for a person of average weight will amount to $28,200.

7. Medicare urged to flex its power and slash back premium hike -

WASHINGTON (AP) — The head of a Senate panel that oversees Medicare says the Biden administration should use its legal authority to cut back a hefty premium increase soon hitting millions of enrollees, as a growing number of Democratic lawmakers call for action amid worries over rising inflation.

8. $56K Alzheimer's drug avoiding Biden's cost curbs, for now -

WASHINGTON (AP) — A new $56,000-a-year Alzheimer's medication that's leading to one of the biggest increases ever in Medicare premiums is highlighting the limitations of President Joe Biden's strategy for curbing prescription drug costs.

9. Sanders to Biden: Cut back looming Medicare premium hike -

WASHINGTON (AP) — Sen. Bernie Sanders is asking the White House to cut back a big Medicare premium hike set to take effect in weeks and tied to a pricey Alzheimer's drug whose benefits have been widely questioned.

10. Biogen CEO: 'Major bottleneck' still limits Alzheimer's drug -

A new Alzheimer's drug from Biogen brought in only $300,000 in sales during its first full quarter on the market, extending a slow debut complicated by coverage questions and doctor concerns.

The infused drug, hailed as a potential breakthrough treatment for a fatal disease, has encountered a health care system that "remains a major bottleneck" in keeping the treatment from patients, CEO Michel Vounatsos said Wednesday.

11. New FDA chief can't come soon enough for beleaguered agency -

WASHINGTON (AP) — Straining under a pandemic workload and battered by a string of public controversies, one of the leading agencies in the government's fight against COVID-19 is finally on the verge of getting a new commissioner.

12. Crushed by pandemic, conventions mount a cautious return -

In pre-COVID times, business events __ from small academic conferences to giant trade shows like CES __ routinely attracted more than 1 billion participants each year. The pandemic brought those global gatherings to a sudden halt, emptying convention centers and shuttering hotels.

13. Buffett's firm ups Kroger stake while trimming drug holdings -

OMAHA, Neb. (AP) — Billionaire Warren Buffett's company has again increased the size of its bet on grocery giant Kroger, while scaling back several of its health care industry investments.

Berkshire Hathaway Inc. said in a quarterly update with regulators Monday that it picked up nearly 11 million shares of Kroger stock during the second quarter, raising its holdings to 61.8 million shares. Buffett's company has been steadily adding to its Kroger holdings in recent quarters.

14. Medicare evaluating coverage for $56,000 Alzheimer's drug -

WASHINGTON (AP) — Medicare on Monday launched a formal process to decide whether to cover Aduhelm, the new Alzheimer's drug whose $56,000-a-year price tag and unproven benefits have prompted widespread criticism and a congressional investigation.

15. FDA head calls for probe into Alzheimer's drug review -

WASHINGTON (AP) — The acting head of the Food and Drug Administration on Friday called for a government investigation into highly unusual contacts between some of her agency's drug reviewers and the maker of a controversial new Alzheimer's drug.

16. FDA trims use of contentious Alzheimer's drug amid backlash -

WASHINGTON (AP) — U.S. health regulators on Thursday approved new prescribing instructions that are likely to limit use of a controversial new Alzheimer's drug.

The Food and Drug Administration said the change is intended to address confusion among physicians and patients about who should get the drug, which has faced an intense public backlash since its approval last month.

17. Does new Alzheimer's drug work? Answers might miss 2030 target -

WASHINGTON (AP) — When a controversial Alzheimer's drug won U.S. approval, surprise over the decision quickly turned to shock at how long it might take to find out if it really works — nine years.

18. Lilly to seek FDA approval for potential Alzheimer's drug -

INDIANAPOLIS (AP) — Eli Lilly is nearly ready to take another shot at getting approval for a possible Alzheimer's drug.

The drugmaker said Thursday that it plans to submit its potential treatment donanemab to the Food and Drug Administration later this year.

19. Medicare copays for new Alzheimer's drug could reach $11,500 -

WASHINGTON (AP) — A new $56,000-a-year Alzheimer's drug would raise Medicare premiums broadly, and some patients who are prescribed the medication could face copayments of about $11,500 annually, according to a research report published Wednesday.

20. How will insurers cover a new Alzheimer's drug? -

Federal regulators have approved the first new drug for Alzheimer's disease in nearly 20 years, leaving patients waiting to see how insurers will handle the pricey new treatment.

Health care experts expect broad coverage of the drug, which was approved Monday. But what that means for patients will vary widely depending on their insurance plan. In some cases, that could mean coming up with several thousand dollars to pay for what the insurer didn't cover.

21. US stocks claw back much of an early loss, finish mixed -

Stocks gave up some of their recent gains Monday, though the selling eased toward the end of the day, leaving the major indexes mixed.

The S&P 500 slipped less than 0.1% after having been down 0.3% in the early going. The benchmark index, which is coming off two straight weekly gains, is within 0.2% of the all-time high it reached a month ago.

22. FDA approves much-debated Alzheimer's drug panned by experts -

WASHINGTON (AP) — Government health officials on Monday approved the first new drug for Alzheimer's disease in nearly 20 years, disregarding warnings from independent advisers that the much-debated treatment hasn't been shown to help slow the brain-destroying disease.

23. FDA panel reviews 1st new Alzheimer's drug in 2 decades -

WASHINGTON (AP) — One of the biggest drug decisions in decades is looming as U.S. regulators consider whether to approve the first medicine that's claimed to slow mental decline from Alzheimer's disease, the most common form of dementia.

24. Cluster of coronavirus cases is tied to US biotech meeting -

BOSTON (AP) — A biotech meeting at a hotel in downtown Boston appears to be the source of a cluster of the coronavirus in the U.S. — and a warning for employers who are still holding big gatherings as the outbreak spreads.

25. New details emerge on drug that may slow Alzheimer's disease -

SAN DIEGO (AP) — A company that claims to have the first drug to slow mental decline from Alzheimer's disease made its case to scientists Thursday, disclosing more results that may help explain why one study of the experimental medicine succeeded and another failed.

26. US stock indexes close lower on mixed company earnings -

A choppy day of trading on Wall Street ended Tuesday with stocks closing lower after a technology sector-led sell-off strengthened toward the end of the day.

That late-afternoon burst of selling erased modest gains for the market, which was coming off two weeks of gains.

27. Biogen reanalyzes studies, presses ahead on Alzheimer's drug -

Biogen Inc. said Tuesday it will seek federal approval for a medicine to treat early Alzheimer's disease, a landmark step toward finding a treatment that can alter the course of the most common form of dementia.

28. Stocks close higher following solid earnings results -

NEW YORK (AP) — U.S. stocks marched broadly higher on Wall Street Tuesday as several major companies reported solid second quarter gains.

Investors pushed stocks closer to the record highs they reached just over a week ago. The gains followed several stumbles last week, extending a period of volatility in July as investors weigh a looming rate cut by the Federal Reserve as well as uncertainties over trade and the economy.

29. S&P 500 ends 2-day losing streak as tech leads stocks higher -

Technology companies powered a broad rally for U.S. stocks Thursday, snapping the market's two-day losing streak.

Apple and chipmakers led the wave of buying, helping to drive the technology sector to an overall gain of 2.5 percent. The sector is up 21.1 percent this year so far, well ahead of the S&P 500's 10 other sectors.

30. US stock indexes end mostly higher on solid earnings reports -

The major U.S. stock indexes finished mostly higher Tuesday as investors welcomed strong corporate earnings reports from Google parent Alphabet and other companies.

Gains by technology companies and health care stocks outweighed losses in consumer goods manufacturers, retailers and other sectors.

31. US stocks snap higher despite escalating US-China trade tiff -

The trade dispute between the U.S. and China escalated Friday, but Wall Street focused on a solid jobs report instead.

After a wobbly start, U.S. stocks mounted a broad rally, shaking off two consecutive weekly losses.

32. Tech, health care companies lead US stocks broadly higher -

U.S. stocks are up broadly in early trading Thursday, turning major indexes higher for the week as markets reopen following the Independence Day holiday. Technology stocks and health care and consumer-focused companies accounted for much of the market's gains. Oil prices fell.

33. US stocks recovery from sharp early drop and finish mixed -

NEW YORK (AP) — U.S. stocks shrugged off early losses and wound up with a mixed finish Monday. Household goods companies took some of the worst losses as the S&P 500 index fell for the third time in four days.

34. Forbes names Hare to best-in-state advisors list -

Forbes magazine has named Pinnacle Financial Partners financial advisor James Hare as a “Best-In-State Wealth Advisor” for Tennessee. Hare earned the No. 23 spot on the list, which ranks more than 2,000 top-performing advisors from across the country.

35. Losses for airlines, tech mostly offset other stock gains -

NEW YORK (AP) — U.S. stocks spent a second day flipping between small gains and losses Thursday as investors again looked for hints about the Trump administration's stance on international trade and the dollar. Major indexes ended the day mixed as airlines plunged while biotech drugmakers climbed.
Homebuilders fell sharply after the Commerce Department said sales of new homes dropped in December. Airlines suffered a second day of sharp losses as investors worried about rising costs and the possibility of lower air fares. Retailers and technology companies slipped, but health care companies including Biogen and Celgene rose.
High-dividend stocks such as utilities rallied as bond yields fell, making those stocks more attractive to investors seeking income.
The dollar made small recovery in the afternoon after President Donald Trump said he wants to see a stronger U.S. currency. The dollar has fallen to three-year lows, and it fell further on Wednesday after Treasury Secretary Steven Mnuchin said there were advantages to the dollar's weakness over the last year.
Investors took that to mean the administration wouldn't do much to prop up the dollar. Mnuchin said Thursday that he supports a stronger dollar over a longer term.
The Standard & Poor's 500 index and Dow Jones industrial average still rose enough to set more records, but stocks have wobbled this week as investors monitored the World Economic Forum in Davos, Switzerland, to get a sense of how the Trump administration's nationalist stance might affect global trade. Trump is scheduled give a speech there at around 7 a.m. Eastern time Friday.
Julian Emanuel, chief equity and derivatives strategist for BTIG, said investors have mostly tuned out political news in the last year, but it might be time for that to change because after a stretch of historic calm in the markets, volatility is rising slightly.
"Economies and earnings are the drivers of the market long term, but politics needs to be respected," he said.
The S&P 500 inched up 1.71 points, or 0.1 percent, to 2,839.25. The Dow average climbed 140.67 points, or 0.5 percent, to 26,392.79. The Nasdaq composite fell 3.89 points to 7,411.16. The Russell 2000 index of smaller-company stocks rose 2.06 points, or 0.1 percent, to 1,601.67. Most of the stocks on the New York Stock Exchange closed lower.
Stocks have been setting record highs regularly for more than a year, and the S&P 500 is up 6.2 percent this month. It's on track for its biggest monthly gain since March 2016, a time when the market was recovering after a sharp plunge.
The dollar edged up to 109.41 yen from 109.05 yen and the euro dipped to $1.2391 from $1.2405.
Among airlines, Alaska Air lost $2.62, or 4.1 percent, to $62.07 and Southwest Airlines sank $2.02, or 3.2 percent, to $60.19. They took even bigger losses Wednesday after United Continental said it plans to add passenger capacity at a faster pace over the next few years. That could increase the chances of a glut of flights and lower fares at the same time airlines are dealing with higher fuel expenses and higher labor costs.
The Commerce Department said sales of new homes fell more than 9 percent in December, partly because of severely cold weather. NVR sank $237.20, or 6.6 percent, to $3,350 while Lennar fell $2.35, or 3.3 percent, to $68.47. Those stocks have made huge gains over the last year because of strong demand for homes and rising prices.
Newell Brands, which makes Sharpie pens and Elmer's glue, plunged to its lowest price in almost five years after it again lowered its forecasts for 2017 and said it will consider selling numerous businesses including Rubbermaid. That's a sharp change in direction for Newell, which less than two years ago paid $13 billion to buy Rubbermaid's parent company Jarden.
Newell also said three directors resigned from its board. The stock plunged $6.42, or 20.6 percent, to $24.81.
Bond prices turned higher. The yield on the 10-year Treasury note fell to 2.62 percent from 2.65 percent.
The European Central Bank didn't make any changes to its stimulus programs. ECB head Mario Draghi said the eurozone economy still needs support to keep raising the rate of inflation toward healthier levels. It will continue to buy 30 billion euros ($36 billion) in bonds per month until at least September.
While major exporters like technology and industrial companies have benefited from the decline in the dollar, it has hurt smaller and more U.S.-focused companies, which have not done as well as the rest of the stock market over the last year.
Benchmark U.S. crude lost 10 cents to $65.51 a barrel in New York. Brent crude, used to price international oils, gained 41 cents to $70.94 per barrel in London.
Wholesale gasoline remained at $1.92 a gallon. Heating oil rose 1 cent to $2.12 a gallon. Natural gas fell 6 cents to $3.45 per 1,000 cubic feet.
Gold picked up $6.60 to $1,362.90 an ounce, and after strong gains over the last few days it's at its highest price since August 2016. Silver gained 13 cents to $17.62 an ounce. Copper fell 1 cent to $3.22 a pound.
Germany's DAX lost 0.9 percent and the British FTSE 100 fell 0.4 percent. The CAC 40 in France dipped 0.3 percent. Japan's Nikkei 225 sank 1.1 percent while Hong Kong's Hang Seng slipped 0.9 percent. South Korea's Kospi surged 1 percent.
____
AP Markets Writer Marley Jay can be reached at http://twitter.com/MarleyJayAP His work can be found at https://apnews.com/search/marley%20jayt

...

36. US stock indexes edge lower in early trade; oil prices slide -

U.S. stock indexes edged lower in early trading Thursday, pulling back slightly from the market's latest record highs. Losses by health care stocks and other sectors were outweighing gains by technology companies. Energy stocks also fell as crude oil prices declined.

37. Banks, Caterpillar and industrial companies boost US stocks -

NEW YORK (AP) — Construction and mining equipment maker Caterpillar and Post-it note maker 3M led a rally in industrial companies Tuesday after they made strong third-quarter reports. Other U.S. stocks finished the day with smaller gains.

38. US stock indexes close mostly higher; new highs for Dow, S&P -

Gains by health care companies led U.S. stock indexes mostly higher Tuesday, pushing the market further into record territory.

The Dow Jones industrial average briefly climbed above the 23,000 mark for the first time, settling just below the milestone. Slight gains nudged the Dow and Standard & Poor's 500 indexes to new highs for the second straight day this week.

39. Stocks slip as investors seek safety after weak sales data -

NEW YORK (AP) — U.S. stocks dipped Wednesday as investors worried about weak retail sales and oil prices sank. The Federal Reserve raised interest rates for the third time in six months.

The Commerce Department said retail spending decreased in May, which surprised experts. Investors reacted by buying traditionally safe assets like government bonds and high-dividend companies while selling stocks from other industries that depend more on economic growth. Bond yields hit their lowest level of 2017. Oil prices also hit an annual low after the government's weekly report on oil stockpiles.

40. After jobs report, a late push takes stocks to new records -

NEW YORK (AP) — A solid pickup in hiring last month helped push the stock market to record highs Friday. The gains were driven by energy, technology and industrial companies.

The Labor Department told investors what they had hoped to hear: employers added more workers last month after a sluggish beginning to the year.

41. US stock indexes drift mostly lower in morning trading -

U.S. stock indexes drifted mostly lower in morning trading Thursday as the market gave up some of its gains from the day before, when the Dow Jones industrial average closed above 20,000 for the first time. Technology stocks were down the most, while financial companies led the gainers. Investors have their eye on the latest company earnings news.

42. Dow sets new record as other indexes slip; tech stocks skid -

NEW YORK (AP) — U.S. stocks are mostly lower Wednesday after setting records the last two days, but the Dow Jones industrial average continues to set all-time highs. Health care companies are taking some of the biggest losses. Technology stocks are lower after HP released a weak profit forecast. Strong results for Deere are lifting industrial companies.

43. US stock market notches biggest gain in 8 months; oil rises -

The U.S. stock market rebounded from a nine-day losing streak Monday, posting its biggest gain in eight months and driving the Dow Jones industrial average up more than 370 points.

Financial stocks led the broad market rally, which erased more than half of the losses racked up by the Standard & Poor's 500 index since October 25.

44. US stocks close higher as investors buy big dividend payers -

NEW YORK (AP) — U.S. stocks finished slightly higher on Wednesday as investors picked stocks that pay big dividends, like real estate and phone companies. Energy companies fell with the price of oil and health care stocks continued to slide.

45. Stocks rise as tepid jobs report stokes hopes for low rates -

NEW YORK (AP) — U.S. stocks are rising Friday as a slowdown in hiring last month raised investors' hopes that the Federal Reserve may wait even longer before raising interest rates. Energy companies made the biggest gains as the price of oil turned higher for the first time this week.

46. US stocks slip as falling oil prices punish energy companies -

NEW YORK (AP) — U.S. stocks wobbled and finished mostly lower Monday as the price of oil continued to nosedive thanks to the strong dollar. Energy companies took the biggest losses as U.S. crude hovered around $40 a barrel, its lowest price in almost four months, and materials companies also traded lower.

47. US stocks rise as drugmakers gain; gold keeps climbing -

NEW YORK (AP) — U.S. stocks changed course and turned higher Wednesday, with drug and consumer companies leading the way. Investors were willing to take a few more risks than the day before, but they remained cautious, and demand for bonds and precious metals stayed high.

48. Late sell-off leaves US stocks barely higher; oil rises -

NEW YORK (AP) — Stock indexes inched upward Tuesday, led by gains in energy companies as the price of oil closed above $50 a barrel for the first time in almost a year.

The market had been on track for its highest close since last July, but an afternoon stumble erased most of the early rally, leaving broad indicators with meager gains for the day.

49. Stock market skids after cautious comments from the Fed -

NEW YORK (AP) — Stocks sank Wednesday after the Federal Reserve gave a cautious assessment of the global economy and said growth in the U.S. has slowed down.

The statement from the Fed smothered a small rally in stocks earlier in the day. In addition to lowering its view of the U.S. economy, the Fed didn't say if it will respond to those and other concerns by slowing down its planned increases in interest rates.

50. US jobless aid applications fell to 42-year low last month -

WASHINGTON (AP) — The number of people seeking U.S. unemployment aid barely rose last week and the average level of applications in the past month fell to a 42-year low.

The Labor Department said Thursday that weekly applications rose just 1,000 to a seasonally adjusted 260,000, a very low level historically that suggests employers are cutting few jobs.

51. An early rally fades, leaving stocks modestly lower -

U.S. stocks closed lower on Wednesday after a late-afternoon slide erased modest gains made earlier in the day.

The decline added to the market's losses from the day before and came as crude oil prices fell and investors focused primarily on the latest wave of companies reporting quarterly financial results.

52. Alexis named vice president for advancement at TSU -

Tennessee State University President Glenda Glover has announced the appointment of Eloise Abernathy Alexis as the new associate vice president for Institutional Advancement. Alexis will serve as TSU’s chief advancement officer providing strategic advocacy and leadership for alumni relations, annual giving and development.

53. US stocks sink; S&P 500 index notches another losing week -

The U.S. stock market capped a four-day losing streak with its biggest drop of the week.

Disappointing quarterly results and outlooks from several companies pulled the major stock indexes sharply lower on Friday. New signs pointing to a slowing of China's economy also added to investor jitters, bringing down the price of oil and other commodities.

54. Energy companies lead an advance in US stocks -

NEW YORK (AP) — Energy and health-care companies led major stock indexes higher on Tuesday, even as crude oil resumed its slide. General Motors rose after reporting stronger sales, and Biogen, a biotech company, soared following news that its drug for Alzheimer's disease showed promise.

55. Slide in energy sector drags US stock market lower -

NEW YORK (AP) — Stocks fell broadly on Wednesday, snapping a four-day winning streak for the Standard & Poor's 500 index, as investors shaken by recent swings in the market sold some of their holdings.

56. Stocks drop; Biotech takes another plunge -

NEW YORK (AP) — Another plunge in the biotechnology sector led stock indexes down Thursday, as Biogen Idec, Gilead Sciences and other biotech companies extended a recent slump. EBay fell after Carl Icahn abandoned an effort to shake up the company and Bed Bath & Beyond fell after reporting weak sales figures.

57. An early gain fades on Wall Street -

NEW YORK (AP) — Stocks are closing slightly lower after an early rally faded away.

Health care stocks fell the most. Security software maker Symantec plunged after firing its CEO, and Nike fell after warning of softer sales.

58. US stocks muddled as Ukraine tensions fester -

NEW YORK (AP) — One positive report on the economy was not enough to make investors more confident.

The stock market ended mixed Friday after a day of muddled trading. Among the three main U.S. stock indexes, one edged higher, one closed little changed and the other closed lower.

59. S&P 500 index closes above 1,800 for first time -

NEW YORK (AP) — The Standard & Poor's 500 index is closing above 1,800 for the first time as encouraging news from the drug industry pushes stocks higher.

The S&P 500 index rose nine points, or 0.5 percent, to close at 1,804.76 Friday. The Dow Jones industrial average climbed 55 points, or 0.3 percent, to 16,064.77. The Nasdaq gained 22 points, or 0.6 percent, to 3,991.65

60. Perrigo to buy Elan for $8.6B, seeks tax savings -

DUBLIN (AP) — U.S. drugmaker Perrigo agreed Monday to buy Ireland's Elan for $8.6 billion in a deal that should allow the rapidly growing company to reduce its tax bill and boost its royalty stream.

61. US stocks close mixed on uneven economic signals -

U.S. stocks meandered between small gains and losses Monday, cooling off after a rally that had pushed the Standard & Poor's 500 index above 1,500 for the first time since December 2007. Encouraging news about manufacturing provided an early boost, but stocks fell later after a report on the pace of home sales fell short of expectations.