Coca-Cola’s Fizz Flattens and 2 Dow 30 Healthcare Stocks on the Move
The Coca-Cola Company’s (NYSE:KO) and Pepsi’s (NYSE:PEP) soda sales could be impacted as soon as next March, by New York City’s Bloomberg administration, as it plans to implement a wide-based ban on large sizes of the drinks, as well as other sugary beverages, says a New York Times report. The ban, which would be the first of its kind in the U.S., would affect sugared drinks larger than 16 oz., including sodas and sweetened teas and coffees, but not fruit juices, diet sodas, milk shakes or alcoholic beverages.
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Johnson & Johnson (NYSE:JNJ): The U.S. House of Representatives has okayed legislation that would raise user fees that companies pay the FDA for its reviews. Bloomberg Businessweek believes that the fee rise should result in more meetings with the FDA and perhaps quicken product approvals.
General Electric Co.’s (NYSE:GE) Healthcare unit Clarient Diagnostic Services and molecular diagnostics company Insight Genetics have reported a global licensing agreement for intellectual property from Insight Genetics, which allows Clarient the rights to develop a genetic test covering the anaplastic lymphoma kinase biomarker, which is a promising target for several classes of cancer drugs. Clarient expects to develop and study the performance characteristics of a quantitative PCR-based test which detects increased transcription of the ALK gene. Several therapeutics compounds, which are known as ALK inhibitors, are in clinical evaluations and one of them – Xalkori – already has FDA approval.
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