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The FDA's efforts to curb flavored vapes are set to draw a review from the Supreme Court. This regulatory action could impact companies involved in the production and sale of flavored vaping products.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:32 pm

LLY

NVO

The U.S. FDA has sent a warning letter to Ozempen.com for introducing unapproved and misbranded semaglutide drug products into interstate commerce. The FDA has requested that the website cease offering these drugs for sale to U.S. consumers.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:24 pm

GSK

PFE

SNY

A Delaware judge has dismissed a request from GSK Plc and other pharmaceutical companies to appeal a ruling that allows over 70,000 lawsuits alleging the heartburn drug Zantac causes cancer to proceed. This means GSK, Pfizer, Sanofi, and Boehringer Ingelheim must seek permission directly from the Delaware Supreme Court to appeal. If the appeal is rejected, the lawsuits will advance to trial.

Portfolio Pulse from Vandana Singh

July 02, 2024 | 12:39 pm

VTRS

Viatris announced that the U.S. Department of Justice's Antitrust Division no longer considers Mylan and its former president, Rajiv Malik, subjects of its antitrust investigation in the generic drug industry. The DOJ's Civil Division also does not expect to take further actions regarding a civil investigative demand related to generic drug pricing and sales.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 11:41 am

CNGL

Liqueous LP is challenging the validity of Canna-Global Acquisition Corp.'s (NASDAQ:CNGL) issuance of Class A common stock. Liqueous acquired these shares in exchange for extinguishing certain debts of Canna-Global, which provided financial benefits to Canna-Global and its stockholders. Liqueous is working with Canna-Global to resolve the issue.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 7:15 am

ETHUSD

Mark Cuban criticizes SEC Chair Gary Gensler's approach to regulating cryptocurrency, suggesting that the current registration process for token-based companies is flawed. Cuban's comments highlight the need for an amended Form S-1 for cryptocurrency assets and suggest that the SEC's stance could impact the 2024 presidential election.

Portfolio Pulse from Aniket Verma

July 02, 2024 | 4:09 am

CHWY

GME

OXY

Keith Gill, known as 'Roaring Kitty,' has made a $200 million investment in Chewy Inc. (CHWY), which has been questioned by Citron Research. Citron suggests that the investment may not be Gill's own money and finds Warren Buffett's 30% stake in Occidental Petroleum (OXY) more compelling. The news led to a surge and subsequent trading halt in Chewy's stock due to volatility. GameStop (GME) also saw a decline in its stock price following the news.

Portfolio Pulse from Benzinga Neuro

July 02, 2024 | 3:38 am

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TSLA

Ross Gerber, CEO of Gerber Kawasaki Wealth, criticized the blame placed on cryptocurrencies for regulatory issues, highlighting a Financial Times report that drug traffickers favored Citigroup for money laundering due to weak fraud controls. Gerber's comments come amid increasing regulatory scrutiny of cryptocurrencies.

Portfolio Pulse from Aniket Verma

July 02, 2024 | 2:26 am

VRNOF

A federal court has dismissed a lawsuit from major marijuana companies, including Verano Holdings Corp. (OTC:VRNOF), that sought to prevent the U.S. government from enforcing cannabis prohibition against their in-state activities. The court ruled that existing Supreme Court precedents restrict its authority to alter federal regulations on controlled substances.

Portfolio Pulse from Franca Quarneti

July 01, 2024 | 11:18 pm

DJT

The U.S. Supreme Court granted former President Donald Trump partial immunity for actions committed while in office, sparking mixed reactions. The ruling, which came ahead of the 2024 election, means cases against Trump related to his presidential duties may be delayed until after the election. Critics argue this places Trump above the law, while supporters see it as a victory for presidential powers.

Portfolio Pulse from Chris Katje

July 01, 2024 | 10:12 pm