this new drug pharma companies spend around $30000000000.00 on medical marketing each year. and now there's a cost of manufacturing where the costs per treatment can range from a couple cents to a couple dollars. cost a manufacturing is typically very low once the formula has been dollars in so ball the buy gilliard. this new hepatitis c drug received a lot of criticism when i hit the market since the cost of manufacturing was only a $150.00. but gillian charged $84000.00. but as you can see, the cost manufacturing is not the whole story. it didn't take into account the years and millions spent on r n d. so the matter is very complex. on the one hand expansion, drugs are unaffordable for most people throughout the globe. on the other hand, pharmaceutical companies, they can't develop break through drugs, allow poor millions into developing them. from their perspective, it's only fair to charge a price that will allow them to recoup their outlay and help them to continue researching and developing better drugs. and for more, let's bring in the ne chris then national field org

so chris then patton's obviously play a very important role in the pharma industry. how long do these patents typically last before generic can start producing lower cost bio similar? well that's, that's, that's actually something we're working on right now. we're a part of this campaign called make medicines affordable. and we don't want to wait for congressional action on this issue. we want president biden to actually use executive power to lift patents. he has brought authority to lift patents on pretty much anything, not just health care around, but pretty much on any kind of product. and we're hoping that he will lift patterns on certain drugs and allow for the generic production of those drugs. and we're, we did or inaction outside the building and d. c recently where we had directly impacted people telling their stories and asking president biden, you know, like the installation reduction act with a huge victory. like thank you for doing, you did get medicare, drug pricing. but we actually want you to use executive power to, to go much further analyst patents

so are pharma companies justified in their pricing with the existing model? or does something need to be changed? know their pricing is definitely not justified that these are companies that value profit over people. they're motivated by how much money they can make, not on what is best in terms of health care outcomes in the care that people need. and we've definitely seen this with cobra. right, kind of on a grand scale, you would think it's a global crisis that when we develop these lifesaving vaccines that we'd want to share that with, as many people as possible, want to share with other countries. certainly during a pandemic with the understanding that you can't and a global pandemic with a single state solution, right? cobit existing other countries means more variance going to come to our shores. and it's also just the moral sensible, responsible thing to share this technology. but that's not what's happened, visor and minturn, i have ordered their technology to, to give it away to other countries and teach them how to manufacture their vaccines . and

so chris then patton's, obviously play a very important role in the pharma industry. how long do these patents typically last before generic can start producing lower cost bio similar? well that's, that's actually something we're working on right now. we're a part of this campaign called make medicines affordable, and we don't want to wait for congressional action on this issue. we want president biden to actually use the executive power to lift patents. he has brought authority to lift patents on pretty much anything, not just in health care around, but pretty much on any kind of product. and we're hoping that he will lift patents on certain drugs and allow for the generic production of those drugs. and we're, we did an action outside the building and d c recently where we had directly impacted people telling their stories and asking president biden, you know, like the place reduction act was a huge victory. like thank you for doing did get medicare, drug pricing. but we actually want you to use executive power to go much further analyst patents on those drugs. and i

so are pharma companies justified in their pricing with the existing model? or does something need to be changed? know their pricing is definitely not justified that these are companies that value profit over people. they're motivated by how much money they can make, not on what is best in terms of health care outcomes and the care that people need . and we've definitely seen this with cobra. right, kind of on a grand scale, you would think it's a global crisis that when we develop these lifesaving vaccines that we'd want to share that with, as many people as possible who want to share with their countries. certainly during a pandemic with the understanding that you can't and a global pandemic with a single state solution, right? cobit existing other countries means more variance going to come to our shores. and it's also just the moral sensible, responsible thing to share this technology. but that's not what happens, pfizer and minturn, i have ordered their technology and keys to, to give it away to other countries and teach them how to manufacture their vac

so chris then patton's, obviously play a very important role in the pharma industry. how long do these patents typically last before generic can start producing lower cost bio similar? well that's, that's, that's actually something we're working on right now. we're a part of this campaign called make medicines affordable, and we don't want to wait for congressional action on this issue. we want president biden to actually use executive power to lift patents. he has brought authority to lift patents on pretty much anything, not just health care around, but pretty much on any kind of product. and we're hoping that he will lift patents on certain drugs and allow for the generic production of those drugs. and we're, we did or inaction outside the building and d. c recently where we had directly impacted people telling their stories and asking president biden, you know, like the place reduction act was a huge victory. like thank you for doing. he did get medicare, drug pricing, but we actually want you to use executive power to, to go much further analyst patents on those

so chris then patton's, obviously play a very important role in the pharma industry. how long do these patents typically last before generic can start producing lower cost bio similar? well that, that's, that's actually something we're working on right now. we're a part of this campaign called make medicines affordable, and we don't want to wait for congressional action on this issue. we want president biden to actually use executive power to lift patents. he has brought authority to lift patents on pretty much anything, not just in health care realm, but pretty much on any kind of product. and we're hoping that he will lift patterns on certain drugs and allow for the generic production of those drugs. and we're, we did or inaction outside the building and d. c recently where we had directly impacted people telling their stories and asking president biden, you know, like the installation reduction act was a huge victory. like thank you for doing you did get medicare, drug pricing, but we actually want you to use executive power to, to go much further analyst patents o

but big pharma, up to now, has always stopped our ability to negotiate with them. well, we're the only -- by the way, we're the only group in the world we can't negotiate with -- wouldn't -- couldn't negotiate with. but we finally got it done. bringing down prescription drug costs doesn't just save seniors money, it will cut the federal budget by hundreds of billions of dollars. [applause] not a joke. because instead of paying 400 bucks, they're going to pay 35 bucks for it. that's the government's cost. so, this also brings down the deficit. do you guys have to stand the whole time? i'm sorry. [laughter] why don't you bring them some extra chairs here? for real. do we have chairs out there? that's not right. [laughter] audience member: [inaudible] the president: are you sure? i know you can do it, but audience member: [inaudible] the president: all right. if you want to come up on stage, you can do that too, if you want to. [laughter] look, this is pretty basic. it's pretty basic. when i meet with the new republican leadership, they say they're not going to raise

maria: when drug works pharma company gets paid if it doesn't -- >> especially in cancer. >> the reason different than other countries? you think what we're eating? where we live? why a life expectation of 77? >> i believe that there is also the -- the discrepancy between haves and have-nots sadly even in new yorkcy places average life expectation is 87, in spots and neighborhood with live expectation 63 years of age a big discrepancy but, also, in the last few years, we had covid killing a mill americans, more americans died during covid than any other country. maria: i want to talk about covid later in the show, i want to get your take on what happens with you pharmaceutical companies now, and also, this report from project veritas about pfizer we will get into with it sam later in the show he will be with us the rest of the hour stay with us. we'll be right back. . we all have a purpose in life - a “why.” no matter your purpose, at pnc private bank we will work with you every step of the way to help you achieve it. so let us focus on the how. just tell us - what's your why? bath

big pharma reported this morning. it was a mixed bag ely lily, shares were lower. merck also was helped by strong sales of cancer drugs, but the stock is down 4% and bristol-myers, climbing on strong earnings, hanging on to a 1.5% gain. overall, it's been a weak start to the year to the health care sector, down about 3%. the bright spot has been biotech, this is the reverse of last year. it's up about 3%, and that's where my next guest sees big gains ahead. your back ground is so impressive, i'm nervous talking to you, doctor thank you for being here welcome. >> thanks for having me. >> what jumps out first and foremost about why you think biotech is the place to be what is the message and urgency here for investors >> there's going to be a few big trends in the industry so we should remember, one, pharma is going to see a major trend. they're having capacity issues for the production, so the launch has been noisy. that being said, analysts have $26 billion in peak sales for their drug, which -- [ inaudible so really incredible efficacy. that is going to be a big t

absolutely i mean, for probably the last decade, it's been rare diseases and cancer drugs that pharma companies have been eager to acquire, and actually if you look at the list of the companies with the largest market share, sanofi got there because they acquired genzime, a pioneer of the market, henry, one of the early ceos who has now passed away, pioneered this high price model but also developing medicines for rare disease. sanofi acquired them and that's how they got big astrazeneca acquired a biotech company working in rare diseases these have been popular takeout targets and expected to continue to be so it's a space that biotech investors are interested in as well. >> what makes something considered a rare disease? i'm reading stats here, i don't know if i'm correct, but if one in ten people in the u.s. have a rare disease that seems actually somewhat common, so can you explain how rare we're talking about? >> kelly, that's a great question i think that rare diseases is really sort of a misnomer nowadays because when you look at the populations of being less than 200,000 and w

. >> and to follow up from big pharma and the connection another shocking story you brought to light according to one of the newest members from the dietary guidelines advisory committee a lack of exercise supports obesity so why would a doctor say that? big pharma paid doctor stanford and also one of the many fractures of the prevalent weight loss drugs. he fits right in him with him we reached out to novartis and they sent a statement about their obesity drugs and how they work with independent experts to raise awareness and access to care but they are transparent about those interactions yes we pay experts including some of the health panel it is so corrupt and disgusting. >> yes this is the key part of the playbook that situation is extraordinary when i was working for coke that 15 percent of americans rely on nutrition the american academy of pediatrics was nowhere to be found. speaking out with a crisis with 25 percent of children have prediabetes but now the drug companies are paying the doctors directly a number one spender on mainstream media saying that it's paid in the num

it is not a surprise with big pharma arguably republicans go after big pharma to because it's an easy target as far as oil what amazes me and all of us who are trained to take positions in the oil sector is the assault on oil by this ministry if you go back to mr. biden's first week in office the first thing he did was drilling on federal land and that's where a lot of the shale properties the cheapest oil is a natural international asset to not allow and get in the way of u.s. oil companies that want to drill and get in the way of energy independence but american independence and i as an investor in a proud american want to see america use all of its assets and be in the strongest possible. maria: we do have earnings coming out this morning we have cvs, uber and the walt disney company coming out "after the bell". what did you make of this attack on business he wants to quadruple the buyback tax right now tax for companies that do buybacks of their shares of 1% he wants to take that to 4% and the attack on big tech, big pharma, overall you talking about a heavier hand of government m

but big pharma up to now has always stopped their ability to negotiate with them. by the way, they're the only group in the world that we can't negotiate with. wouldn't, couldn't negotiate with. but we finally got it done. bringing down prescription drug costs doesn't just save seniors money, it will cut the federal budget by hundreds of billions of dollars. not a joke. instead of paying $400, they're going to pay $35. that's the government's cost. so this also brings down the deficit. do you guys have to stand the whole time? i'm sorry. why don't you bring in some extra chairs here. for real? do we have chairs out there. that's not right. are you sure? if you want to come up on stage, you can do that, too, if you want to. look, this is pretty basic. it's pretty basic. when i meet with the new republican leadership, they say, they're not going to raise taxes on anybody at all. and they're not going to do that, they're just going to cut. i say, what would you cut? well, start off, if you don't -- stop trying to do away with the legislation, to whole big pharma accou

but the big pharma up to now has always stopped the ability to negotiate with them. by the way, they're the only group in the world we can't negotiate with. couldn't negotiate with. we finally got it done, bringing down prescription drug costs doesn't just save seniors money, it will cut the federal budget by hundreds of billions of dollars. not a joke. because instead of paying 400 bucks, they're going to pay 35 bucks. that's the government's cost. so this also brings down the deficit. you guys have to stand the whole time? i'm sorry. why don't you bring in some extra chairs here, for real. do we have chairs out there? that's not right. you sure? i know you can do it, but -- >> if you want to come up on stage, you can do that too, if you want to. >> look, this is pretty basic, it's pretty basic. when i meet with the new republican leadership, they say they're not going to raise taxes on anybody at all, and they're not going to do that. they're just going to cut. what would you cut? start off if you don't stop trying to do away with the legislation i did to hold big

it wasn't only purdue pharma. there drug is oxycontin. they targeted doctors and tried to convince doctors that oxycontin was a joint they could for people not only in pain because they have cancer or they have a backbreaking injury but maybe you could prescribe it to a patient that has two things. many doctors were complicit in this as well, some overzealously, some criminally over prescribed the drug. all it really took to devastate one community was for one doctor to over prescribed oxycontin and other prescription painkillers. next thing you know, pretty much every family in one way, shape or form is touched by this epidemic and i have barely unpacked -- i had barely unpacked my bags before this was made by the u.s. attorney's office in lexington, kentucky. it filtered out and impacted every other story that i did. susan: you made the point that all roads lead back to the economic realities of the region. in terms of illicit drugs, in the absence of traditional economic engine sounds, the illegal drug trade does avoid in the economy.

it's about big pharma. it's about health care i think the staples trade this week, i think a lot of these staples companies have seen some of their best days i would not be chasing these multiples here. >> coming up, house hunting, looking to finance a car our chart of the week may make you change your strategy aper bowl stakes are high and onnd off the field especially for hot gaming stocks. we'll go live to phoenix when "fast money" returns learn more and view important safety information at inspiresleep.com. lily! welcome to our third bark-ery. oh, i can tell business is going through the “woof”. but seriously we need a reliable way to help keep everyone connected from wherever we go. well at at&t we'll help you find the right wireless plan for you. so, you can stay connected to all your drivers and stores on america's most reliable 5g network. that sounds just paw-fect. terrier-iffic i labra-dore you round of a-paws at&t 5g is fast, reliable and secure for your business. [office sounds] ♪upbeat mu

health officials are urging people to stop using delsam pharma's artificial eye ointment, it is being recalled. now it is made by the same company in india that makes the ezri care and delsam pharma artificial tears that were recalled earlier this month after at least five patients were blinded by drug-resistant bacteria. that outbreak has now expanded to 58 patients and 13 states. emotions ran high on tuesday night as michigan state's men's basketball team played its first home game since the mass shooting on campus that killed three students and sent five others to the hospital. coach tom is oh had tears and his eyes before tip-off. both teams in the sellout crowd wore t-shirts saying "spartan strong" michigan state went on to beat indiana 80-65. astronomers may have to rethink how the universe began, what new research tells us next. after a tnf blocker like humira or enbrel, rinvoq is different and may help. stand up to your symptoms with rinvoq. rinvoq is a once-daily pill that tackles pain, stiffness, swelling. for some, rinvoq significantly reduces ra and psa fatigue. it can sto

we finally beat pharma. [applause] here is the point. i don't understand why the republicans don't quite get this. bringing down the cost of prescription drugs isn't just fair, it saves seniors a lot of money. it will cut the federal deficit. saving taxpayers hundreds of billions of dollars over time. otherwise, they have to spend the money to pay the high prices, pay $400 instead of $35. it is saving the taxpayer, not a joke. now our republican friends want to appeal the inflation reduction act, and get rid of the savings and prescription drugs that we buy like medicare -- through medicare. it would eliminate $159,000 in savings and lower drug costs. that just means your tax dollars are going to be saved 159 thousand dollars to do what we are doing right now. it doesn't cut medicare or medicaid or drug available. it cuts the cost. and by the way, on the topic of medicare, the distinguished senator -- senator rick scott from florida, who was responsible for getting republicans elected to the senate, is a little bit in hot water right now

used to do antiestablishment rock and roll journalism and now they shill for big pharma. but you can't scandalize woody harrelson. he's woody. >> the last people i would trust with my held is big pharma and big government because neither one of those strike me as caring entities. they are all about profit. if you have seen the profit they have made, there was only one thing that could work and that's the vaccine, right? ultimately, because of that, billions of dollars was made. >> jesse: woody is barefoot. how are liberals not listening to him? and when did journalists forget that businesses exist to make a profit? remember, if you didn't want the vaccine, because you had already had covid, you had natural immunity. no, sorry, you are fired if you don't get the shot. but now the big study comes out and says natural immunity offers better protection than the shot. why do you think they suppressed that? because they wouldn't have made record profits. fauci didn't care because they were getting paid millions in royalties, moderna paid fauci's nih $400 million in royalties of

then he says i'm going to get tough with big tech and big pharma and we're going to crack down on fentanyl pouring over the border. okay. okay. we have been saying that for a long time, joe. then he says we're going to get tough on china. this is a blue-collar boom. this is literally exactly what trump said during his state of the union and then even used the forgotten man analogy. a lot of you feel forgotten, these hollowed out old construction sites in these poor towns. come on. the best part was when he went full populist and said he was going to get rid of these junk fees, these fees for places that aren't a resort or airlines that treat your children like baggage. and then he was going to lock up people that stole covid money. go over to chicago because they took the money and gave each other bonuses. i'm not really upset with how people were screaming and yelling. i'm not a big decorum guy, especially after the fact the last president, they spied on his campaign, framed him to be a trader and then leaked his ta taxes. it wasn't well delivered. he's a terrible speaker but i did feel t

health officials are urging people to stop using delsam pharma's artificial eye ointment. it is being recalled. now, it is made by the same company in india that makes the ezricare and delsam pharma artificial tears that were recalled earlier this month after at least five patients were blinded by a drug-resistant bacteria. that outbreak has now expanded to 58 patients in 13 states. emotions ran high on tuesday night as michigan state's men's basketball team played its first home game since the mass shooting on campus that killed three students and sent five others to the hospital. coach tom izzo had tears in his eyes before tip-off. both teams in the sellout crowd wore t-shirts saying "spartan strong." michigan state went on to beat indiana 80-65. astronomers may have to rethink how the universe began. what new research tells us, next. after a tnf blocker like humira or enbrel, rinvoq is different and may help. stand up to your symptoms with rinvoq. rinvoq is a once-daily pill that tackles pain, stiffness, swelling. for some, rinvoq significantly reduces ra and psa fatigu

my question to you is how am i to devote more resources to research and development, when i hear big pharma saying drug prices are so exorbitantly high because a lot of it goes to research and development. for some reason, i don't put a lot of stock in that. can you help me out with that? thank you. >> you are not alone. you are concerned about the cost of health care, broadly speaking, including medications that many of us depend on for our quality of life and well-being. we know from our survey, again, that when we asked people to name the number one most important health related issue that faces the nation, today, health care's number one. followed by covid which used to be number one. after that, mental health, the opioid crisis, and other things we are all too familiar with. to get back to that complicated question, there are many moving parts. many moving parts. there are actually research behind understanding the most effective way to deliver health care in all respects. based on evidence, rather than happenstance. or status quo thinking. research helps with that. we strongly support

this is becoming the industry and i'll follow a trail and big pharma and insurance and monopolies and higher education and government and who's funding not only this clinic in missouri and who's funding these clinics popping up all across the country and these procedures, laura, cost serious money and somebody is making serious, serious bucks for our children. >> laura: there's an interstate commerce and obvious interstate commerce next here and is it not the case that it's time for congress to act and step in. that means past we want you to be on the record and taking these clinics out of operation or you're going to green light what's happening to these kids. this has to happen. >> i'll introduce legislation to do it and give parents and victims the right to sue these doctors and clinics and participants that forced sterilization on these kids and treatment and go to court and sue them for damages as much as they can get. >> laura: senator hawley, the news that broke earlier today was that an object shot down over the water near the arctic ocean and somewhere it was kind of confusin

health officials are urging people to stop usiing delsym pharma's artificial eye treatment. it's made by the same company that made the artificial tears that were recalled earlier this month after at least five patients were blinded by a drug resistant bacteria. that outbreak has now ex-panned to 58 patients in 13 states. >>> emotions ran high on tuesday night as michigan state men's basketball team played its first home game since the mass shooting on campus that killed three students and sent five others to the hospital. coach tom izzo had tears in his eyes before tip-off. both teams andsellou cre t-shir strong." michigan state went on to beat indiana, 80-65. >>> astronomers may have to rethink how the universe theo's nose was cause for alarm, so dad brought puffs plus lotion to save it from harm. puffs has 50% more lotion and brings soothing relief. don't get burned by winter nose. a nose in need deserves puffs indeed. america's #1 lotion tissue. did you know, some ordinary cold medicines can raise your blood pressure? a nose in need deserves puffs indeed. try new vicks n

it enables a range of companies who can't get this normally, advertising firms, big pharma, health insurance cpanies to buy up this data and do things and run ads, about consumers. to make determinations about health care pricing. brokers enable the data to get that information. >> that say someone is watching it is concerned they might have information they want to protect. can they call the companies and say do not share? can they get it deleted? >> there are some places in the united states where consumers can tell companies to not sell their formation. california allows consumerso do this. not every state has these rules. we don't have them federally. the real challenge is most people are not aware the data is being collected in the first place. even if you knew it was, woul go to to tell them to stop selling the information? the obscurity and shadows makes it hard for consumers themselves to be able to do anything without stronger privacy regulations. >> do you know any efforts to try and tighten those regulations? >> there are some underway. the ftc recently ok action against a large p

desk your take where medical breakthroughs are right now what are you most excited about in terms of pharma i am glad you mentioned google, goal we know a search company but you know what? it is spending more and more energy time and more than on healthcare, so, you are seeing all these tech companies, understand that is where growth is where do you see growth. >> that really tells us what you just said is very important. ; to the markets, for example. in the worst of times, you still need your aspirin, right so you still need drugs. people get diseases that need to be cured, and our industries especially in biotech and pharma have innovations that are amazing, look what happened during covid. maria: yeah. >> it really saved our -- million of deaths by our warp speed programs and breakthroughs that occurred there, with pfizer, biointech moderno j&j, et cetera,. >> i have to say a report says you are better off with having gotten covid in terms of your ability to not get it next time as opposed to the vaccine. >> you probably are. but your ability to survive and not be hospitalized is better

they carried water for the democratic party as well as big pharma. they wrote headlines essentially talking points from those two parties. they did not interrogate the issues. i feel no vindication. i feel enraged when i see the new headlines. they skip ad step. what about the part you were complicit in all of this. what about the part people like me finally how we knew all along, regular normal people, we knew were right all along. we were smeared as racist. they skipped a step. i'm pretty mad about that. rachel: i'm mad about that. they need to apologize to people like you. they need to apologize to all the people who left their jobs because of the fear-mongering they did. they need to admit ties to the big pharma, to the party, to the unions. you're absolutely right. i am just as mad as you are. thanks for joining us. you've been an amazing voice throughout this, a voice of common sense and parents across the country, appreciate what you sacrificed to voice how they feel. they don't have the bully pulpit of "the new york times" but people like you

these vaccines where within a year and it's big money and pharma make a lot of money and pharma make a lot of money and pharma make a lot of money and when something is rapidly as that is brought to market and big money is involved and we've not beginning to see even with ppe for example, money was being, you know, gone astray and so on. there are vested interests and there will be controls imposed and people can be thinking that be forgiven for thinking that there's some kind of conspiracy going on. you have to do you going on. and you have to do you know, do need to respond to that and frames were and say time frames were shortened because a lot of money was and a lot of kind was invested and a lot of kind of short. but you have to ask the question, well, talking about control has been in touch . you made me smile. bryan you said about secretive elite try and control as bryan says. well, i am one of the satellites. i have complete control of my living room, except the remote control when my wife is in. now, i found this conversation very interesting because i found let me show you

quick break and th a woody harrelson takes on big pharma during the saturday night live monday log. it makes a buzz this morning. you're watching "mornings with maria" live on fox business. ♪ this isn't just freight. these aren't just shipments. they're promises. promises of all shapes and sizes. each, with a time and a place they've been promised to be. a promise is everything to old dominion, because it means everything to you. mar>> land against a tree and started to read the craziest script. so the movie goes like this. the biggest drug cartels in the world get together and buy up all the media and all the politicians and force all the people in the world to stay locked in their homes and people can only come out if they take the cartel's drugs and keep taking them over and over. i threw you the script away. who is going to believe that crazy idea? maria: and that is the hot topic buzz. that was woody harrelson's monologue on saturday night live this weekend, joking about the relationship between big pharma and government, causing an uproar on twitter, many agreeing with the a

oh also, did you know that joe promised to take down big pharma? you know, joe made big pharma more money than ever with vax mandates but the big guy is going to save you $3 on insulin. and the big guy is also going to keep fighting for the little guy. >> we have written a bill to stop it all it's called the junk fee prevention act. we're going to ban surprise resort fees that hotels charge you on your bill. those fees can cost you up to $90 a night on hotels that aren't even resorts. >> jesse: so joe doubled gas prices, but now we're going to save on resort fees. we can't afford to go on vacation, and if we do on vacation, his boy sam brinkman is going to steal our bags. i guess you save on baggage fees when you have no bag for the return flight. last night trump did his best trump impression or desantis impression, biden just plagiarized the republican platform, slapped his name on it and said i'm running for re-election. i'm joe biden and i approve trump's message. so, did the american people buy this? ♪ ♪ >> big speech last night. what's yo

i think a lot of people say, hey, aren't -- isn't pharma going to come in and clean up the biotech mess that's gone on? the reality is pharma comes in and buy companies that are more fully baked and plug and play in an area they don't have a footprint. we're seeing both, by the way. there's been a number of deals we've been involved in, smaller biotechs either refinancing themselves or getting together, taking out costs that's sort of more of the things we're seeing. and i'll let you know a lot more after our conferencenext week. we've got what i think is the seminole health care conference. i know there might be another firm out there that thinks they have one in january but most people haven't woken up yet. in march we're all in gear next week, you know, for three days, i'll have a much better handle on what's happening in health care at the end of our conference >> i love that >> there you go. thank you very much. it's good to have you and get some of your predictions. >> great to be here. >> cowen ceo. >>> still to come, mark mobius is with us on where to look for opportunities over

are we about to see a wave of deals in pharma. after one of the slowest years in recent memory, pfizer, merck, others could be on the prowl for takeover targets, the panel will discuss what it means for those companies and the biotechs that could be on the shopping list. >>> and big news on cnbc this morning. activist nelson peltz calling off his proxy fight against disney he says the company did what he wanted, so he wishes bob iger and the board well, but will investors like what they got we'll get to all of that and more a quick check on this market as the gains this morning have quickly disappeared. dow is down about 105. >> all right, to dom chu and go through some of today's movers i see tesla on the list there. >> tesla is up as we're hitting session lows now for the stock market solidly higher on the day, not far from the best levels of the session now as you can see some of the upside today being driven by headlines with regard to a fatal crash involving a tesla model s in texas in 2021 u.s. auto safety regulators determi

. >> we'll keep our eye on it for the remainder of the hour, of course pharma, jim, has a new move to tell you about as well i do want to get into the markets and dive into what happened with cpi and the impact on stocks. it's now negative. it took a while for the stock market to figure out which direction it wanted to go. so, jim, here's the deal inflation isn't going up that's good, as a whole. it's not coming down that fast now. that's a problem for your view on where we are, right >> so can i start by saying this i'm really happy with the market response today this is not a freak-out day. it was up, it's down if we did this over the summer and we had a hot reading like this, and i do think it was hot, the market would be down 2, 3% this just feels like maybe the market is starting to take inflation in stride. i didn't like the 0.5% month over month because prior to that you had six months in total, looking at month over month it was up 0.9%. >> food ticked up. >> energy and used cars. energy and used cars >> no, used cars went down. >> then it was new cars. >> no, a lot of that wa

it if i'm in pharma where is the puck going next. in the biotech market it will be targeted therapies. a lot of companies operating in that space. several names people can look at. que biopharma. i own, my firm owns. another name imunone. lantern pharma, these companies sold off very deeply but have precision therapeutics potentially worthwhile investments in a market, if you see pfizer buying a company, 30, $40 billion f we buy the companies for 3, 400 million-dollar companies that is good risk/reward in this market. neil: more biotech than just tech? >> yeah. because biotech, if you look, neil, biotech sold off very strong, steeply way more than the rest of the market. nasdaq came in 30% of the biotech from peak to tough was down about 65% which was second worst correction history in the biotechs index. you saw riskier areas of market, biotech, small caps, microcaps get hit first. if you look at the russell 2000 it is up 8%. it was up 13% at one point. the smaller end of the market is faring a lot better because they sold off soone

we must act to lessen the impact of the crisis on pharma, on small businesses, on our water infrastructure, and our transport network, and a number of other areas and facilities that support our people's lives. now and considering all of these matters and the crisis that we are in the national disaster management center has consequently classified the energy crisis and its impact as a disaster. we are therefore declaring a national state of disaster to respond to the electricity crisis and its effect the minister of corporate governance and traditional affairs has just got stated the declaration of the state of disaster which will begin with immediate effect. now what will the state of disaster enable us to do? it will enable us to provide practicum measures that we need to take to support businesses and number of businesses, for instance, in food production storage, a retail supply chain, including for the rollout of generators and solar panels, an uninterrupted power supply. where technically possible, it will also enable us to exempt critical infrastructure such as hospitals and water t

[cheers and applause] folks, big pharma is still going to do very well, i promise you all. i promise you they are going to do really well. this law will only go into effect in 2025, it also caps out of pocket drug costs for seniors on medicare at a maximum $2000 per year no matter what your drug costs are. because you know why? you will know what. many of you, like many of my family, have cancer. the drugs can range from $ 12,000, $13,000, $15,000. if drug prices rise faster than inflation, drug companies will have to pay medicare back the difference. and we're finally giving medicare the power to negotiate drug prices. bringing down prescription drug costs doesn't just save seniors money. it cuts the federal deficit, by billions of dollars. by hundreds of billions of dollars. because these prescription drugs are drugs purchased by medicare to keep their commitment to seniors. well, guess what? instead of paying $400, $500 a month, you are paying $15. that is a lot of savings for the federal government. by the way, why wouldn't we want that? i know this is not the official

the fda is warning people to stop using delsam pharma's artificial eye ointment. there are concerns it could be contaminated with bacteria. it comes from the same manufacturer of products recalled this year due to a highly drug-resistant bacteria that hospitalized and blinded some patients. >>> to your cbs "money watch" report. u.s. stocks closed mixed yesterday as the minutes from the federal reserve's last meeting showed it's willing to push ahead with more interest rate hikes. the dow lost 84 points. the nasdaq gained 14, and the s&p 500 was down 6. >>> "the washington post" is reporting that meta is preparing for another round of job cuts. thousands of jobs could be impacted. facebook's parent company is looking to downsize and reorganize its hierarchy. this comes three months after ceo mark zuckerberg slashed 11,000 jobs and assured workers he did not anticipate more layoffs. >>> amazon has closed the deal to buy primary care provider one medical. the $3.9 billion acquisition will give amazon access to one medical's more than 200 brick and mortar medical offi

company. sh. roughly $10.00 a vile to make that insulin package in all you may get up to $13.00, but big pharma. i've been unfairly charging people hundreds of $1.04 to $500.00 a month, making revenue record profits. not anymore. not anymore. for me. so many things that we did or only now coming to fruition. we said we were doing that. so we said we passed a law to do it, a people that no big law didn't take effect until january 1 of this year. we kept the cost events $1.00 at $35.00 a month for seniors. i'm not sure you're getting the same cold. oh, there are millions of other americans do not or are not medicare, including 200000 young people with type one diabetes and it is, is named. this is almost a lie. let's finish the job this time. let's kept the customers for everybody at $35.00. 0 big for me still going to do very well. i promise you will. i promise you that can do very well this law. so this law also caps and warning go into effect on the 2025 cost out of pocket drug cost procedures on medicare at a maximum of 2000 dollars year. you don't have to pay more than 2000. i mean, no matte

and it's alle an backed by phony science and big pharma. it's pushed by radical in ous is our schools. it's adopted by big business all and big government. and of course, all the while it's glamorized by big tech and the entertainment industry. >> sam graciously wanted me to accept this award because firs i'm the first transgender womani to win this award.t to and i just wanted allnder the incredible transgendern fo legends before me who kicked these doors open for me so h i could be here tonight. ransge >>nd the field of transgender ht focus healthhc care is also booming. did you know therehan are10 nop more than one hundred pediatric gender clinics in the united states ? that's up from from zero zero jt fifteen years ago. let's face it, gender transition surgeries bring cash strapped hospitalshss big money. n >> my friends, this is not science. >> and this explainsd the relentless push to expand gender affirming care even forup young people. le. as a trans woman, i can tell you that it's not overly dramatic gender men careanding is lifesa

as a defensive. >> we do like pharma we think valuation looks pretty good it has pulled back here. and unlike staples, you don't have to worry about a lot of inflation issues weighing on top. >> what was your target last year >> our target last year was 40 -- well, at the end of the year, it was 4,300 we came in expecting the market to be down a little bit. we were expecting a 10% correction but the market was down more than we expected so we readjusted down midway through the year >> got it. you're up 4,200 this year. >> 4,200 this year >> thank you for joining me to talk about the new call. >> thank you >> appreciate it chris harvey from wells fargo. >>> coming up, the ceo of edgewell personal care, he's going to be here to give us his latest reading on inflation. ♪♪ inner voice (kombucha brewer): if i just stare at these payroll forms... my business' payroll taxes will calculate themselves. right? uhh...nope. intuit quickbooks helps you manage your payroll taxes, cheers! with 100% accurate tax calculations guaranteed. what do you get from the morgan stanley client experience

they had been successful in bringing a lawsuit against a big pharma and winning that lawsuit. at the time that they filed a lawsuit against big pharma, it was believed that you could not win. there is nothing that you could do. that is what we heard when we filed the lawsuit in this case. you cannot beat the gun industry, they have too many protections and you cannot win. when we filed the lawsuit, we wanted to hold these companies and manufacturers and ghost gun companies accountable for the destruction that they bring to our city and that they bring to cities all across the country. we felt that we just could not wait while we worked with the justice department, the adf, we had employed all kinds of strategies to reduce gun violence in our city and we had success in bringing down the homicide rate. we had success in bringing down the number of shootings. as we say in our city, any one homicide, any one shooting is one too many. with this lawsuit, our hope is that we will hold these manufacturers, distributors, dealers, marketers, accountable for what they are doing in buffal

[cheers and applause] folks, big pharma is still going to do very well, i promise you all. i promise you they are going to do really well. this law will only go into effect in 2025, it also caps out of pocket drug costs for seniors on medicare at a maximum $2000 per year no matter what your drug costs are. because you know why? you will know what. many of you, like many of my family, have cancer. the drugs can range from $ 12,000, $13,000, $15,000. if drug prices rise faster than inflation, drug companies will have to pay medicare back the difference. and we're finally giving medicare the power to negotiate drug prices. bringing down prescription drug costs doesn't just save seniors money. it cuts the federal deficit, by billions of dollars. by hundreds of billions of dollars. because these prescription drugs are drugs purchased by medicare to keep their commitment to seniors. well, guess what? instead of paying $400, $500 a month, you are paying $15. that is a lot of savings for the federal government. by the way, why wouldn't we want that? i know this is not the official