Streetbeat News

Regulatory

JNJ

Johnson & Johnson announced that the Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion for Balversa (Erdafitinib) for the treatment of adult patients.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 2:58 pm

APLS

Apellis shares are trading lower after the company announced that the CHMP has adopted a negative opinion on the marketing authorization application of intravitreal pegcetacoplan for the treatment of geographic atrophy.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 2:55 pm

PTCT

PTC Therapeutics shares are trading lower after the CHMP issued a negative opinion on Translarna following the European Commission's request for review.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 2:52 pm

MSFT

Microsoft's $13 billion investment in OpenAI is under scrutiny by the EU's antitrust regulators due to concerns about the exclusivity of Microsoft's cloud technology for OpenAI's use. The EU will gather more information from Microsoft's competitors and customers, which could lead to formal investigations if anti-competitive behavior is found. Similar inquiries have been made by the U.K. and U.S. regulators.

Portfolio Pulse from Shivani Kumaresan

June 28, 2024 | 2:50 pm

GOOG

GOOGL

Google and TikTok have banned Done Global from advertising ADHD medications on their platforms following a federal crackdown on the telehealth company's distribution practices. The Justice Department has charged several individuals associated with Done Global for illegally distributing controlled substances. Despite losing certification, Done continued heavy ad spending, which has now been halted by Google and TikTok.

Portfolio Pulse from Vandana Singh

June 28, 2024 | 2:41 pm

GOOG

GOOGL

MSFT

EU antitrust regulators are seeking views on exclusivity clauses in the Microsoft-OpenAI partnership and will not investigate the deal under merger rules due to lack of control. Additionally, the EU is seeking views on Google's AI tech pre-install deal with Samsung and examining talent-driven acquisitions.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 2:35 pm

CVX

The Supreme Court has overturned the Chevron ruling, significantly reducing the power of federal agencies. This decision is seen as a major setback to agency authority and could have wide-ranging implications for regulatory practices.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 2:24 pm

NRSN

NeuroSense Therapeutics has received a Notice of Allowance for its US patent application on compositions of Ciprofloxacin and Celecoxib for treating ALS and Alzheimer's Disease.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 2:20 pm

CSCO

HPE

JNPR

The European Commission will decide by August 1 on Hewlett Packard Enterprise's (HPE) $14 billion acquisition of Juniper Networks (JNPR). The deal aims to enhance HPE's AI offerings and expand its networking business. The UK competition authority is also reviewing the deal, with a decision expected by August 14. The acquisition is an all-cash transaction at $40.00 per share, a 32% premium over JNPR's stock price on January 8, 2024. Post-transaction, Juniper CEO Rami Rahim will lead the combined HPE networking business.

Portfolio Pulse from Nabaparna Bhattacharya

June 28, 2024 | 2:15 pm

RCKT

The FDA has issued a Complete Response Letter (CRL) to Rocket Pharmaceuticals' Biologics License Application for Kresladi, a gene therapy for severe leukocyte adhesion deficiency-I (LAD-I), requesting additional Chemistry Manufacturing and Controls (CMC) information. Despite positive Phase 1/2 study results, Rocket Pharmaceuticals' stock (NASDAQ:RCKT) fell by 9.01% following the news.

Portfolio Pulse from Vandana Singh

June 28, 2024 | 1:52 pm