General Electric Co. and Bank of America Corp. have all but stopped issuing U.S. structured notes tied to interest rates, leading a 3.7 percent decline in sales of the securities this year. Bank of America’s only such offering in 2013 has been $7.35 million of 10-year notes on June 24, after selling $730.7 million during [...]
The Bloomberg Business Bankruptcy Index, a gauge of Chapter 11 petitions from companies with debt of more than $100 million, rose 5.5 percent in June to a reading of 71.35 from May and it fell 43 percent from June 2012. Seven Chapter 11 cases in June involved debt of $100 million or more; the two largest cases were TMT USA and Exide. Click here to view.
by Andrew Berens, MD and Thomas Smith, Bloomberg Industries Prescriptions of Arena/Eisai’s Belviq for obesity appear strong compared to competitor Vivus’ Qsymia. Prescriptions of Belviq rose 83 percent to 2,162 in its second full week on the market, according to data from Symphony Health. Qsymia did not reach this level until its fifth full week. [...]
Structured-note sales fell during the first half of the year in the U.S. and Europe, as lower stock volatility and interest rates left issuers struggling to offer attractive terms. U.S. issuance dropped to $20.2 billion during the period, 6 percent less than last year and the least for the first six months since the start [...]
Compiled by Sam Fazeli, Bloomberg Industries and Elizabeth Krutoholow Johnson & Johnson’s newly launched diabetes drug Invokana appears to have fairly strong uptake, according to data from inThought Research. This may bode well for other agents in the new SGLT-2 class, said Christopher Martin, Senior Principal, Symphony Health Solutions in a webcast with Bloomberg Industries’ [...]
By Asthika Goonewardene, Bloomberg Industries, and Aude Gerspacher, Bloomberg Law The EU regulatory body’s denial of regulatory data protection (RDP) does not impact the strength of Biogen’s European patents, Aude Gerspacher, a Bloomberg Law writer and editor with more than 10 years’ experience as a patent attorney said in a call with Bloomberg Industries’ [...]
Declining profits and tightening regulation of structured products are prompting banks from Royal Bank of Scotland Group Plc to Rabobank Groep to quit the business. RBS last week became the third European bank to close its structured products operation for retail investors since March, citing high capital costs and expenses for the securities. Dutch lender [...]
Guest Commentary by Allan Ellinger In 2010 and 2011, retail was among the top five defaulting sectors, according to a March 2013 report published by analysts at Fitch. Last year, this segment of the economy appeared to be doing better: It did not make it into top five defaulting sectors of the rating agency’s U.S. high yield default index. Click here to continue reading the full commentary. _____________________________________________________ [...]