Biotech stocks reversed course and closed the week ended Nov. 5 lower, squandering the gains notched early in the week. What was good news for Pfizer, Inc. turned out to be negative for several others engaged in COVID-19 vaccine and treatment research. Pfizer announced Friday its oral COVID-19 pill Paxlovid reduced the risk of COVID-19-related…
The Week Ahead in Biotech (Nov. 7–Nov. 13): Earnings Taper Off, Multiple Conference Presentations, IPOs, and More
Cotton, Gallagher Urge Biden Administration to Blacklist Chinese Biotech Companies
Sen. Tom Cotton (R-Ark.), and Rep. Mike Gallagher (R-Wis.) on Sept. 30 called on the Biden administration to blacklist Chinese biotech companies, citing U.S. national security concerns, and the Chinese regime’s ambitions to “dominate biotechnology.” In a letter (pdf) to Treasury Secretary Janet Yellen, Commerce Secretary Gina Raimondo, and Defense Secretary Lloyd Austin, the Republican…
Stocks Are Up but Overall Outlook Is Far From Certain
Commentary The biggest news over the past week must include U.S. jobs growth. News of the nearly 1 million more jobs available in a month is certainly exceptional. Before 2020 when the United States achieved historically low unemployment rates, one-fourth or one-fifth of this was regarded as significant. The latest release called the Federal Reserve…
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