advil lipitor horrifying i grow some of the world's best known drugs could soon be under a new roof we'll tell you why u.s. pharma giant pfizer is spinning off its biggest brands. also on the show like it or leave it europe's top court rules against that ubiquitous facebook like button on external web pages. and europe's single labor market has mostly been a boom for member countries with week job markets but some citizens are still off the books. median daily for who moved to italy. this is your business report i'm stephen beard in berlin thanks for joining us. us drug giant pfizer is spinning off its older branded medications into a merger with generic drug maker milan and pfizer would have a majority stake in the new business which would both sales of $20000000000.00 annually and own the rights to some of the most familiar brands of the pharmacy

including advil and cholesterol pill limits or all of which have lost patent protection making them less profitable the spin off would allow pfizer to focus on newer patent protected medications which are more profitable and it comes as u.s. drug companies face intense political pressure to lower their prices. democratic presidential hopeful bernie sanders is campaigning against high drug prices in the u.s. on a pharisee in canada he's joined by diabetes patients who cross the border with them to buy insulin one vial costs 340 dollars in the u.s. in canada it's just 30. many americans are faced with skyrocketing pharmaceutical prices out of congressional oversight hearing in washington patients spoke of the impact the prices are having on their lives. what are we willing to pay to save a life and well that's easy when it's your child's ability to live to breathe when

it's your wife's diabetes when it's your own cancer the answer is anything but that's the wrong question the question we should be asking is what is the right amount of money the drug companies should make on these drugs. pharmaceutical companies are under unprecedented attack us president donald trump has repeatedly criticized the drug makers for charging more in the u.s. than in any other country the cost of medicine in this country is outrageous. to bring prices down he wants pharma companies to include the list price of drugs and t.v. ads the idea companies will think twice if they have to advertise their medicine at extremely high prices reuters reports the trump is also considering an executive order that would cut prices on virtually all subscription drugs makers say lower prices could innovative research but opponents question this wherever the truth lies it appears that things are coming to a head. and let's go to our financial correspondent in new york jose luis de haro

who is a a major pharmaceutical spinoff you know what exactly does this do for pfizer. cases stephen does deal is part of the company's goal to separate the new or dogs still protected by a patent in most cases a mature product which eventually lost those are rights biog by doing these ways you know can you slowly own and magazines have from pfizer shooting been pretty bold the revenues and pfizer currently full rearranging the mode after buying lots of. cancer treatments for over $10000000000.00 also to company combining consumer health business with glaxo smith kline we could eventually be a spoon to deal with pretty consistent with the strategy it is also

attracted. by user it's a by law was a mile and shares were down more than 75 percent from their 2015 before deal peroration was announced. now say we saw briefly there was such a price pressure on us pharmaceutical companies right now and that includes milan which is been criticized as well what does this merger do for the. i actually stephen mylan has been dubbed the most controversial publicly traded a health care company by some analysts. most significant his specialty. was because of concern even among legislators here in the u.s. before generic competition and speaking of generic. drug buying groups has led to falling prices for manufacturers such as milan that's why they called penny has been trying to develop more complex generics and copies of biotech drugs jose luis

de haro with a look into a big health care story there thank you jose. alternative meat products company beyond meat saw its 2nd quarter revenue break passed estimates to more than $67000000.00 now that's $15000000.00 more than analysts had anticipated and beyond meat said it expects that trend to continue amid strong demand for the company's plant based burgers and sausages is forecasting a revenue gain of a whopping 170 percent on its full year revenue to $240000000.00 fee. you know that little facebook like button in the corner of so many websites well it's but at the center of a very big court case in europe for several years now the question whether web sites need to inform visitors that that little button is sending data to facebook even when it's not activated europe's highest court today said yes they do take a look. it's yet another privacy depok involving facebook the social media giant

guts detailed information about customers and pekin brooks fashion website fashion i.e. whether they like that or not here's how it went the online vendor displayed facebook's like button on its website once the 3rd party site was opened by unassuming customers the site sense data to facebook information on the user's ip address browser settings and process history this process worked whether or not the customer had ever clicked the like button now europe is making both the 3rd party site and facebook responsible for protecting the users privacy the highest court had this to say about who has to act there and once the owner of a website in this case fashion id implements a social media plug in on their site they can be seen as responsible with regards to the safekeeping or transfer of any personal data. did.

you see invent it. which means website operators are responsible for collecting and providing data while they are not responsible for social media platforms subsequent use of such data they have to give customers the chance to opt in to any possible distribution of their data. a cornerstone of the e.u. is freedom of movement the right to live and work anywhere in the bloc of course that doesn't guarantee you a decent job some laborers turn to illegal work even though the pay can be pretty pathetic. it's 5 30 in the morning in buffalo on the outskirts of rome. this is where day laborers wait for someone to offer them work most of them from rumania. and then pulls over. one of the men climbs in discreet you course

the police could show up any minute. here to stay behind and keep on waiting most of the time in vain basically so construction sector is in crisis patrick under no you had no luck finding with this morning his unlucky streak has lasted for over a week now. the automobile i knew but i'm off the books all employers prefer that so they can avoid paying taxes insurance. they would rather take us in on the clear work or sometimes i don't get paid at all when you they say don't pay to morrow. and then they never show up again. if you're not in a good gamble money don't like the 63 year old welder has been trying his hand here for years but with less and less success. he says a while ago his wife left him with their 2 children. since then he's

been living at the edge of the city in this makeshift hart. every evening petra goes to bed early. i have to wake up at 430 if he wants a chance of getting any work tomorrow. god what a curse of life this is patrick andre nor you was looking for a better life when he set out from romania to italy many years ago this is where he used to live in the village of s. and. now his house is abandoned his family has moved away many other houses stand empty here the village appears deserted the local bar is the only place left with a bit of life in it here they remember their former neighbor. said there was no point staying here now he's earning his daily bread and everything else he needs. your record being i think it's better to stay here. on our romanian fields

at least here you can get some cheap cheese even if romania is poor but. the shop. back in rome. like every morning patrick andriano you is openly driven by the hope of earning a few years as today. one of europe's biggest urban development projects is finally getting the green light in madrid after over 2 decades of deadlock surrounding the 7300000000 euro scheme the sprawling site is is in the north of the spanish capital the plan centers around moving the shell martina underground train station to create a park over $10000.00 housing units and offices the city says will bring billions of euros into the region and create nearly a quarter of a 1000000 jobs. and that's it for me in the business team as with all of these stories you can find more online at www dot com slash business on facebook and

twitter i'm stephen beardsley and thanks for watching.

how horrible to. say this 100 german street on the dublin. it's all happening much of it coming to your link to news from africa and the world your link to exceptional stories and discussions genuinely welcome to the day after going program tonight from funny jimmy from the use of easy to go out with say deputed smash africa join us on facebook t.w. africa. the world is getting better soon. moore's contrast of use a lot of problems. to global $3000.00 talks would seem british researchers to take a more optimistic view. the world is not always a good points but it's much much better than it was how. is the world really

getting better. a global $3000.00 special reports. starts august 19th on the deeds of. the spectacular alps dazzling ice against a brilliant blue sky johnny arnold and his friend are extreme mountaineers on a quest for the ultimate trail. good luck.