Jul 26, 2019

How McKinsey consultants helped push opioid sales

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Endo and Allergan discussing opioid settlement to avoid trial

Photo: Liz O. Baylen/Los Angeles Times/Getty Images

Two drug companies — Endo and Allergan — are in discussions about a settlement that would allow them to avoid participating in a massive opioids trial set to occur this fall, the Wall Street Journal reports. Endo is working on a $10 million deal, while Allergan is negotiating a $5 million deal that may not completely remove it from the trial.

Why it matters: These 2 companies are relatively minor players in the trial, especially compared to drugmakers like Purdue Pharma and Johnson and Johnson. But this would still be a significant development, especially if other drug companies end up following Endo and Allergan's lead to avoid going to trial.

Go deeper: A proposal to bring all local governments into opioids settlement

Keep ReadingArrowAug 20, 2019

U.K. speaker vows to stop Boris Johnson from closing Parliament to force Brexit

John Bercow. Photo: House of Commons/PA Images via Getty Images

The U.K.'s Speaker of the House of Commons John Bercow said Tuesday that he will not allow Prime Minister Boris Johnson to suspend Parliament in order to force through a no-deal Brexit at the end of October, the Telegraph reports.

"The one thing I feel strongly about is that the House of Commons must have its way. If there is an attempt to circumvent, to bypass or - God forbid! - to close down Parliament; that is anathema to me and I will fight it with every bone in my body to stop that happening. We cannot have a situation in which Parliament is shut down — we are a democratic society."
Go deeperArrowAug 13, 2019

Strong U.S. consumer spending in July defies other recession warnings

U.S. consumers spent more in July than economists expected, the federal government said on Thursday, as retail sales rose 0.7% vs. the 0.3% estimated. Excluding automobile sales, a more volatile component, retail sales rose 1% — double what economists anticipated.

Why it matters: Consumers were largely unfazed by the increasing economic uncertainty in July, defying other indicators that point to a global slowdown or recession. The data also comes as Walmart, one of the world’s biggest retailers, posted strong financials for its most recent quarter.

Keep ReadingArrowAug 15, 2019