Category: Trucking News

Valeant’s Rebound Falters After Key Drug Is Rejected

Valeant Pharmaceuticals International Inc.'s rebound from this year's low in March was stopped in its tracks after U.S. regulators rejected its application for a plaque psoriasis lotion, Duobrii, that management saw as the first of many new drugs to hit the market in the next few years. Trading volume was more than 1.5 times the full-day average of the past three months as investors retreated even after the company pointed out that the Food and Drug Administration's ruling was related to its pharmacokinetic data and said management is working to “resolve this matter expeditiously” and has already requested a meeting with regulators. Wells Fargo analyst David Maris warned that an approval may be delayed by six to nine months depending on Valeant's need to generate additional data.


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It would be incredibly difficult for California to split into three states. If it did, here's how it would work

Northern California, California, and Southern California — has qualified to appear on the ballot in November's general election. The Cal 3 ballot measure received more than 400,000 valid signatures, thanks to financial backing from Silicon Valley investor Tim Draper. It's still unclear if cutting up California into three states is legal and if Cal 3 could muster enough support from California voters and US Congress.


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