E Boris Bounce; Trump Tripwire

Boris Johnson beat the pollsters handily and Britain (except for Scotland and Northern Ireland) went into holiday mode in advance. In Scotland, 55 of 59 seats went to the Scottish Nationalists, meaning that there will be a move for breaking away from Britain and remaining in the European Union. Sterling rose 2% against the Greenback, to $1.343 per Pound, and 1.9% against the poor Euro. The large UK stock index, the FTSE 100, filled with multinational companies, rose only 0.35% because their earnings will be nipped by the stronger currency. But the mostly local FTSE 250 of smaller companies rose 4%.

Jeremy Corbyn led a worse showing by Labour than even the last hidden Moscow politician in place in Britain, Michael Foot, mostly because he refused to renounce extreme anti-Semites among his fellow Labour candidates. I am convinced that he didn't do so because of where his funding was coming from.

Meanwhile back on Capitol Hill, the on-again-off-again trade deal with China was on again on Thursday night while the bitter fight over the impeachment remained to be passed. It is unlikely to get anywhere in the Republican-dominated Senate unless President Trump does something foolish. The drug price limits bill being pushed by the House Democrats look like it is getting nowhere which should boost pharma stocks, but that depends on their currency of operation.

However a bipartisan spending bill compromise has been reached, according to the wires.

More follows from Australia, Brazil, Britain, Denmark, Dutch Antilles, Finland, Hong Kong, Israel, Japan, Mexico, The Netherlands, Saudi Arabia, Spain, Switzerland, and the USA.

Drugs

*BioLineRx gained 21% premarket following results from its 3-drug pancreatic cancer phase II Combat-Keynote trials in 36 patients whose second-line cancer could not be treated with surgery after a return of the disease. An overall response rate of 32% and a disease control rate of 77% was observed compared to the current chemotherapy standard-of-care treatment in second-line patients of 17% and 52%. Moreover of the 7 partial responders, 4 showed a reduction in tumor burden of greater than 50%. Median duration of clinical benefit until progression for the 17 patients with disease control was 7.8 months. Progression-free and overall survival data remain on track for mid-2020. The combination was generally well tolerated. The trial has still to sign up another 4 patients but the results are very hopeful. BLRX is an Israeli small cap drug firm.Median duration of clinical benefit until progression for the 17 patients with disease control is 7.8 months.Progression-free and overall survival data remain on track for mid-2020.The combination was generally well tolerated. Pancreatic cancer until now was a death sentence.

*The European Medicines Agency's advisory group CHMP has adopted recommended approval of Eli Lilly's (LLY) Cyramza (ramucirumab), combined with Roche's (RHHBY) Tarceva (erlotinib), for the first-line treatment of adult patients with metastatic non-small cell lung cancer with activating epidermal growth factor receptor mutations. A final CHMP decision takes 30-60 days.

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Danny Straus 7 months ago Member's comment

The world is a better place with Jeremy Corbyn's loss.