Streetbeat News

Regulatory

AAPL

Apple Inc is in talks with Chinese officials to address concerns related to new regulations that will impose restrictions on the availability of foreign apps in the company's app store in China. The new rules could lead to the removal of tens of thousands of apps from Apple's app store in China. Apple's App Store was not included in the list of compliant app stores recently released by China's cyberspace regulator.

Portfolio Pulse from Vandana Singh

September 29, 2023 | 12:28 pm

LLY

Eli Lilly has settled a lawsuit filed by a former employee, Amrit Mula, who alleged wrongful termination after raising concerns about manufacturing practices and data falsification related to the diabetes drug Trulicity. The New Jersey facility in question has faced scrutiny from the FDA since 2019, when inspectors discovered the deletion of quality control data and inadequate audits. The U.S. Department of Justice initiated a criminal investigation in 2021 following a Reuters report detailing some of Mula's allegations. No charges have been filed yet.

Portfolio Pulse from Vandana Singh

September 29, 2023 | 12:15 pm

GERN

Geron Corporation has announced that the European Medicines Agency has validated its marketing authorization application for Imetelstat, a treatment for transfusion-dependent anemia in patients with lower-risk myelodysplastic syndromes. The review process is expected to last approximately 14 months.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 12:11 pm

CCO

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) has settled a probe with the U.S. Securities and Exchange Commission (SEC) over bribery charges related to its former Chinese subsidiary, Clear Media Limited. The company will pay the SEC approximately $26.1 million in disgorgement, civil penalties, and pre-judgment interest. The U.S. Department of Justice has declined to pursue any charges against the company. Clear Channel's shares closed higher by 6.54% at $1.63 on Thursday.

Portfolio Pulse from Nabaparna Bhattacharya

September 29, 2023 | 12:11 pm

OTLK

Outlook Therapeutics has requested a Type A meeting with the FDA. The purpose of the meeting is not specified in the article.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 12:06 pm

INAB

IN8bio has announced that it will present biological correlative data from the ongoing Phase 1 clinical trial of INB-200, targeting newly diagnosed glioblastoma multiforme (GBM), and pre-clinical insights on its induced pluripotent stem cell (iPSC) gamma-delta T cell platform at the Society for Immunology of Cancer 38th Annual Meeting.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 12:04 pm

ALB

Albemarle Corp. has agreed to pay the SEC over $103 million to settle violations of the Foreign Corrupt Practices Act. The settlement comes after an investigation into the company's practices overseas.

Portfolio Pulse from Charles Gross

September 29, 2023 | 12:00 pm

DASH

TKAYF

UBER

Uber Technologies Inc., DoorDash Inc., and Grubhub Inc. failed to overturn the New York City minimum wage increase, which mandates a minimum pay of $17.96 per hour for food delivery workers. The companies can either pay a straightforward hourly rate or opt for a per-delivery payment structure. The new legislation is set to introduce a second wage increment, bringing the hourly rate close to $20 by April 2025. Approximately 60,000 delivery workers in New York currently earn around $11 an hour post tips and expenses.

Portfolio Pulse from Shivani Kumaresan

September 29, 2023 | 11:52 am

AMRN

AZN

EWU

GSK

The European Medicines Agency (EMA) has agreed to add atrial fibrillation as a common side effect to product information for medicines containing Omega-3-acid Ethyl Esters. This decision could potentially impact companies such as AMRN, AZN, EWU, and GSK, which may have such medicines in their portfolio.

Portfolio Pulse from Charles Gross

September 29, 2023 | 11:43 am

SPY

House Democratic Leader Jeffries announced on CNBC that House Democrats would support the Senate's government funding bill to prevent a government shutdown.

Portfolio Pulse from Charles Gross

September 29, 2023 | 11:38 am