EU HEALTHCARE: Healthcare: Week in Review
Oct-10 13:10
- Novo Nordisk agreed to acquire Akero Therapeutics for $4.7bn upfront and $500m in contingent milestones. When net cash is considered, the deal is only $3.7bn ~0.2x Novo’s EBITDA. Novo will gain access to etruxifermin (EFX), a treatment for fatty liver disease, which complements their portfolio.
- Our US team did some analysis of the TrumpRx implications for the US pharma market. Cash-pay customers are the most likely users of the new system and only account for ~2% of the population. Assuming a 40%-50% discount from list prices would cost the industry a manageable $4bn in revenue. Medicaid is larger, at 13% of prescription volume and 16% of revenue. Medicaid already pays very low prices so the impact may be limited.
- EssilorLuxottica gave a bullish interview on the potential for new smart glasses to take the place of smartphones in people’s lives. Essilor increased their stake in Nikon – not material for debt metrics.
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FED: President Trump Continues To Critique Powell
Sep-10 13:09
U.S. President Trump posts the following on Truth Social: "Just out: No Inflation!!! “Too Late” must lower the RATE, BIG, right now. Powell is a total disaster, who doesn’t have a clue!!! President DJT".
MNI EXCLUSIVE: MNI Speaks to Ex-German Council of Economic Experts Member
Sep-10 13:08
- Two-part interview: Ex-German Council of Economic Experts member Peter Bofinger speaks to MNI about fiscal expansion, growth, the U.S. dollar and the ECB -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
STIR: Effective Fed Funds Rate
Sep-10 13:03
- FRBNY EFFR for prior session:
- Daily Effective Fed Funds Rate: 4.33% (+0.00), volume: $112B
- Daily Overnight Bank Funding Rate: 4.33% (+0.00), volume: $208B
- Earlier Repo Reference Rates
- Secured Overnight Financing Rate (SOFR): 4.40% (+0.00), volume: $2.863T
- Broad General Collateral Rate (BGCR): 4.38% (-0.01), volume: $1.143T
- Tri-Party General Collateral Rate (TCR): 4.38% (-0.01), volume: $1.114T
- (rate, volume levels reflect prior session)
