Pharma Pulse 9/11/24: 2024 Veeva R&D and Quality Summit Coverage, Oracle’s Missteps in Cloud Computing & more

2024 Veeva R&D and Quality Summit: Bree Burks of Veeva Discusses Site-Sponsor Relationships

In a fireside chat with ACT editor Andy Studna, Burks, vice president, site solutions highlights her career path and streamlining workflows between sites and sponsors.

Study Finds Cap on Out-of-Pocket Costs Saves Cancer Patients $7,000

The Inflation Reduction Act’s limit on Medicare Part D spending can lead to savings for patients prescribed oral chemotherapy drugs.

Oracle’s Missteps in Cloud Computing Are Paying Dividends in AI

Long-stagnant stock is up 34% thanks to its neutral status in the booming market for AI computing power.

Direct-to-Patient Telemedicine Company UpScriptHealth Increases Access to Continuous Glucose Monitoring (CGM) For People with Diabetes Through Expanded Strategic Partnership with Dexcom

UpScriptHealth announced that following the success of its GetDexcomRx.com pilot program it is expanding its partnership with Dexcom, the global leader in real-time continuous glucose monitoring (CGM) for people with diabetes. UpScriptHealth now powers telehealth consultations for people with diabetes who visit Dexcom.com.

Barbara Ryan on LinkedIn

Could the Job Reports Help Reverse Biotech’s Underperformance?
Pharmaceutical Executive
Headline: The US economy added substantially fewer jobs than expected in July, making a September interest rate cut more likely. The rate hikes, aimed at taming the economy and inflation, crippled biotech valuations, and choked off supplies of new capital into the sector. A pivot could mark a substantial launch of biotech outperformance.
Specifically, on Aug. 2, the Bureau of Labor Statistics reported that the US economy added 114,000 jobs in July, a sharp decline from June and well below expectations for about 175,000 jobs. The unemployment rate rose to 4.3%, up from 4.1% in June, the highest level since October 2021. Average hourly earnings rose by a softer 0.2% month-over-month and 3.6% year-over-year, indicating that inflationary pressures are easing.
While the Fed Open Market Committee voted unanimously to hold rates steady at its July meeting, Committee Chair Jerome Powell stated “that the time is approaching” for a rate cut.
Stocks plunged the day of the report and the ensuing Monday following the far-weaker-than-expected report. The report sang in unison with multiple disappointing earnings results from major companies, including Intel, which announced that it plans to slash its workforce. Berkshire Hathaway cut its holdings in Apple by over half, sparking fear about the outlook for tech.
Predictably, former president Donald Trump, amid the news, was quick to blame the Biden administration for the weakening economy, while it has already been struggling to sell its economic track record.
There’s now significant pressure on the Fed to act—and cut rates sooner than later. Many are already arguing that it is again behind the curve. While most agree that a rate cut in September is likely, some suggest that it could come as soon as August—and that it won’t be 25 basic points (bps); it will be 50.
Read the rest of my Monthly Finance Column here: https://lnkd.in/eD5A4EN6

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