E FDA Surprise

I have finally done with my taxes, and we sent pretty checks to Uncle Sam, Uncle Mario, and Uncle De. For the first time our accountant used special forms for seniors filing, and all the paperwork was aimed at my husband, who is not American, rather than me. 

The big news out of China is that its import purchases of copper and iron sagged last month because its export markets are far less strong than earlier this year. The news helps explain why China wants to get people to have more babies. They would replace foreigners in keeping the factories open and the economy growing.  

Photo by Annie Spratt on Unsplash

Drug dealers

*Today the US FDA surprised many by approving the Biogen drug Aducanumab for treating early Alzheimer's disease. The big gain was not at the troubled US pharma group which rose all of 10 cents but at its Japanese partner in developing the first new treatment in nearly 20 years for the terror disease of oldsters, Eisai. ESALY rose an amazing 52.44% at the opening because it is a full-service drug company in a country with a huge population of seniors. The US firm barely budged but the Japanese did remarkably well. We are still down from our basis with Eisai, so we hang in there regardless of its jump. It presented at the American Society of Clinical Oncology's virtual congress over the weekend on its liver cancer treatment combo of Lenvima with US Merck's Keytruda, reported Friday. There are at least 100 Alzheimer's trials going on now in the US, but Japan is more careful. However, the odds are high that ESALY will get approvals from the Japanese authorities. It is now up 69.68% and we are in the black from our basis. BIIB is rated underperform by BofA-Merrill, with a flat target price.

*Eli Lilly, which has its own drug for Alzheimer's, rose 1.3% because the FDA may okay it too. LLY.

*Danish Novo Nordisk NVO got FDA approval for its weekly 2.4 mg injections of semaglutide for obese adults with at least on weight-related other risk. 

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