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Health experts have expressed conflict of interest concerns after the FDA‘s drug chief quit for a top job in Big Pharma. Pfizer announced this week that Dr. Patrizia Cavazzoni, former director of the FDA’s Center for Drug Evaluation and Research (CDER), will join the company as its chief medical officer.
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The tech-heavy NASDAQ Composite (^IXIC) finished the volatile trading day down around 1.3%, dragged down by shares of Magnificent Seven players like Nvidia (NVDA) and Tesla (TSLA). The benchmark S&P 500 (^GSPC) dropped roughly 0.4%, while the Dow Jones Industrial Average (^DJI) reversed earlier session declines to end the day in the green, up about 0.4%.
Some of the biggest market moves also came from the cryptocurrency space, where the price of bitcoin (BTC-USD) tumbled below $90,000 for the first time since November. Bitcoin touched a low closer to $86,000 in the early morning hours, its lowest level since early November. Prices stabilized to just around $88,000 at the market close.
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Visualize: How private equity tangled banks in a web of debt, from the Financial Times.
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Filed under: Drugs and Pharma, Ethics, Information Technology, Investing, Recommended Books, Sponsors | Tagged: Big Pharma, Bitcoin, books, CDER, Center for Drug Evaluation and Research, Consumer Confidence, crypto, cryptocurrency, DJIA, DOW, Dr Patrizia Cavazzoni, FDA, FTC, Marcinko, NASA, NASDAQ, Nvidia, PBMs, Pfizer, S&P 500, Science, Tesla, textbooks, TNX, VIX, WSJ |
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