Streetbeat News

Regulatory

BMY

JNJ

LLY

MRK

The U.S. government is set to negotiate prices for 10 drugs as part of President Joe Biden's Inflation Reduction Act, which could lead to significant savings for taxpayers but challenge the profit margins of pharmaceutical companies. Johnson & Johnson's Xarelto and Eli Lilly's Jardiance are expected to be on the list. The new act could lead to approximately $36.5 billion in savings for the U.S. between 2026-2028. However, drug manufacturers warn that limited profits might stifle innovation.

Portfolio Pulse from Vandana Singh

August 28, 2023 | 2:05 pm

DG

DIS

Ron DeSantis reaffirmed his opposition to marijuana legalization at a campaign event, citing concerns about potential adulteration with fentanyl. He was booed at a prayer vigil following a racially-motivated shooting at a Dollar General store. DeSantis's 'war on woke' campaign, which includes a battle with Walt Disney Co, has been criticized for its impact on the Black community.

Portfolio Pulse from Maureen Meehan

August 28, 2023 | 2:01 pm

SPY

President Biden has approved an emergency declaration for Florida in anticipation of Tropical Storm Idalia. The decision was made following a conversation with Florida Governor DeSantis.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 1:57 pm

FXI

SPY

A senior U.S. official has announced that the U.S. and China plan to hold at least annual meetings on export control information exchange. This could potentially impact trade relations between the two countries.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 1:36 pm

SPY

GOP FL Rep Diaz-Balart discussed the possibility of a government shutdown on Fox Business, stating that a short term continuing resolution may be necessary due to lost time in session. He emphasized the need to pass appropriation bills to negotiate with the Senate.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 1:28 pm

CYBN

Trading of Cybin shares has been temporarily halted due to pending news.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 1:23 pm

MU

Micron shares are trading higher after the US Commerce Secretary reportedly discussed the company in meetings with China.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 1:06 pm

SUNW

Sunworks Inc has filed with the SEC to potentially offer and sell shares of its common stock up to a value of $17.6 million. The timing and amount of any sales will be determined by market conditions and other factors.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 1:06 pm

GOVX

GeoVax has received a notice of allowance for patent application No. 17/726,254 titled 'Compositions And Methods For Generating An Immune Response To Treat Or Prevent Malaria'. The patent covers a multiple component vaccine for both prevention and treatment of malaria.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 1:02 pm

HSAI

OUST

Ouster, Inc. (NYSE:OUST) has issued a statement regarding its ongoing patent infringement case against Hesai Group (NASDAQ:HSAI). The Administrative Law Judge recommended that the investigation be terminated to allow arbitrators time to decide whether Ouster is required to arbitrate based on a prior Settlement Agreement between Velodyne and Hesai. Ouster alleges that Hesai stole its patented technologies and incorporated them into competing products. The case is currently stayed pending the ITC investigation.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 1:01 pm