so patients here, this is an important milestone for biogen >> biogen shares are trading around 280 maybecan pull out a chart and show that pop to 400 or so do you think it's sort of fool me once, shame on you, fool he twice, shame on me for investors here >> i think that's the opportunity. you take a look exactly what you referred to, which is we totally got fooled on the first go around last year with a lot of fundamentables and disappointment and the second time, here we go again. there has been a pullback on the stock and there's definitely a lot of uncertainty, as i speak with investors, certainly about the launch of the drug, the price of the drug, and importantly, reimbursement by cms, which could take a year or so i do think that there'll be a lot of debate. i think that's the opportunity for investors. and therefore, when this drug is approved, i think the stock can move higher as those things happen and as we climb the wall of worry scott gottlieb was on this morning, referring to reimbursement liable to happen let's get the first step here. >> shares up about 3.5% today. is tha

one was developed in part by biogen. >> bill: very interesting.illian turner in washington, d.c. >> dana: as america's crime crisis continues one democrat-led state is making it harder for police to do their jobs. refraction law enforcement. the justice department accused of hiding hundreds of documents on hunter biden. could a new lawsuit bring them into light? ♪ >> tech: cracked windshield? make it easy and schedule with safelite, because you can track us and see exactly when we'll be there. >> woman: i have a few more minutes. let's go! >> tech vo: that's service that fits your schedule. go to safelite.com. >> singers: ♪ safelite repair, safelite replace. ♪ get refunds.com powered by innovation refunds can help your business get a payroll tax refund, even if you got ppp and it only takes eight minutes to qualify. i went on their website, uploaded everything, and i was blown away by what they could do. getrefunds.com has helped businesses get over a billion dollars and we can help your business too. qualify your business for a big refund in eigh

biogen has another all-time's drug they are seeking fda approval for.r the microscope, what happened -- stuart: and the stock is up. biogenesis a fraction. it is the new year but parents are having the same issue when it comes to finding their children's medications. any signees shortages are coming to a end? >> no and there are signs it is getting worse because we have another major retailer joining others and limning purchases of children's pain relievers and fever reducers, limning purchases to two products for in-store and online. this is a problem plaguing parents because demand has surged to 65% higher than it was last year amid the pandemic and manufacturers are struggling to keep up having not anticipated the demand. another problem plaguing parents, the baby formula shortage is persisting. major retailers limit purchases in their stores and online, parents tell us specialty formulas remain hardest to buy. one massachusetts mother spoke with us, a 20-year-old son with spinal muscular atrophy requires a diet of strictly specialty form you love. >

biogen shares have just reopened they were halted after winning approval for the alzheimer's drug let's get to meg tirrell what's the story welcome back to you, meg >> well, thank you, sara biogen stock looks like it's up about 6% there reopening some analysts had estimated the stock would go above 300 it's 288 now this is largely what analysts were expecting for the approval of this alzheimer's drug it is the second alzheimer's drug from biogen and its partner. this one was led by eisai with all of the clinical development and the fda process. eisai has announced the price of this drug, $26,500 per year per patient. that is in line with what analysts had expected. it was higher than what a pricing watchdog had said would be cost effective. they had said $20,000. we'll see how that is digested by people who will pay for this drug that is the tricky thing medicare had come out from the last alzheimer's drug and said, we're not going to cover any of theis alzheimer's drugs targeting plague are buildups in the brain except for in clinical trials that limits how they get paid for. so that's

the drug developed by biogen is one of the first of its kind for alzheimer's, but could be difficult to access with the cost of over $26,000 per year. astrazeneca is looking to buy cincor it will take $26 a share more than double the $11.78 friday closing price. >>> healthcare is front and center with the jpmorgan chase healthcare conference kicking off today. this is shaping up to be a good year for big pharma. we have emily with us from barclays good to speak with you again especially with the conference stateside. let's kickoff with the themes of the pharmaceutical companies this year. >> thank you the sector developed last year and it did not have a lot of exposure on input cost or demand for products we saw concern with the inflation reduction act in the united states with the u.s. regulation a concern for european investors in particular however, it is an exciting catalyst for european pharma with a lot expected in the oncology space that is keeping investors excited. >> emily, i want to ask about a preferred names. novo nordisc this drug called wogovy a miracle weight loss dru

soon change a promising new drug developed by japanese pharma company, a side, and us biotech firm biogen may get accelerated approval in the us as soon as today, all timers disease was 1st diagnosed and a woman named august a tear over a century ago. it's the most common cause of dementia. in general, it's expected that 2 3rd of all cases are due to alzheimer's disease. but for a number of reasons, cures, or even adequate treatments for all timers have proven, stubbornly elusive to has been a top who didn't talk about it. second and the funding we have $15.00 to $20.00 times less funding for this disease aria go back to cancer. also, we have equal numbers about 5055000000 in the world. and 30, it's very difficult. this is a brain disorder. and as it most difficult organ of the body, has all timers disease progresses. clumps of protein called amyloid form in the brain of the affected patient. another protein called tao, which usually stabilizes neurons instead begins to form tangles like those here in blue. that also plays a key role in degeneration. there is a picture and metaphor for th

i and hugh as biotech firm, biogen doctor's warn, the treatment comes with potential risks and side effects for patients. a new study is warning that 2 thirds of the world's glaciers will disappear by the end of the century at the current rate of global warming. scientists, they even if future warming can be limited to just a few more tenths of a degree. almost half of the globes glaciers will melt. mexican security forces of capture of the alleged cartel leader of eeoc was my lopez, son of the notorious drug lord known as l chapo authority. se 10 soldiers and 19 criminal suspects were killed in the operation in the city of calia cotton as cartel members trying to prevent the arrest. the city's airport was even caught up in the violence. terrified air passion joe's duck for cover rush. their plane comes under fire during takeoff outside cooley, a con airport. now national ramos captured the moment to mexican air force. plain was shot harold of my mouth destroyed the frenz. i'm super nervous. he and hundreds of others took shelter in the airport. as the terror unfolded, the thought on the i

the fda set to decide today whether to approve a new alzheimer's drug this one also from biogen.r's drug from those companies flopped last year but this appears different meg, what's the latest >> good morning, andrew. you can kind of see the odyssey that biogen has gone through with its alzheimer's drugs if you look at a two-year chart of its stock price, it was in june of 2021 that it got that surprise approval for its previously alzheimer's drug. and you can see that huge pop there in june. folks weren't expecting the approval that they got after that, everything literally starts to go downhill. they priced it at $56,000 a year there were a lot of disagreements over the clinical data and they refused to cover the drug expect in specific clinical trials this job which has partnered with has much different picture, positive phase three data in terms of the slowing of the alzheimer's symptoms the slowing of the decline in cognition. the price is expected to be lower. we will find that out if and when it is approved today. similar side effects in terms of brain swelling and bleedi

rbc estimates biogen stood could go above $300 on approval today.any other problems, down 5% to 10% they believe it could be a $9 billion drug in peak global sales if approved. there's a lot of debate here a long shadow cast over this next alzheimer's drug because of what happened with the first one. guys >> meg, you say that probably a lower targeted price point is it a similar drug in the approach how does the cast benefit analysis likely to play out as people decide how effective it has to be in order for it to get coverage >> yeah, absolutely. is a very similar drug, targets the plaque buildups in the brain, clearing those and hoping that contributes to the slowing in declines in cognition that comes with alzheimer's, and it's shown to do that in its trial. a watch dog group on pricing suggests it would be cost effective at $25,000 a year and under. eisai has put out numbers potentially higher than that we'll see where they price it. reimbursement would be a long road because of that medicare decision on the last alzheimer's drug that's going to

congress weighed in on biogen's decision to charge patients more than $50,000 a year for their drug.ion finds it was an injustifiably high price. the drug approved friday has a price tag of between $8500 and $20,600 a year depending on your insurance. while it has shown more promise in clinical trials than competitors alzheimer's experts are saying the medical evidence isn't clear whether it will make a noticeable difference to patients. >> dana: in massachusetts now there is an arraignment of brian walshe, the husband of ana walshe, the mother of three who vanished without a trace in massachusetts. here is what we know. she left home between 4:00 and 5:00 a.m. new year's day supposed to get on a flight but never did. on january 4th, her husband and her employer both reported her missing. on january 6th, friday, police searched the woods near her home. later that day a fire broke out at a different house where she used to live. then yesterday authorities charged her husband with misleading police. here to talk about it is chris swecker, former f.b.i. assistant director. the arraignme

. >> we have breaking news on biogen the stock is halted. what did they decide >> yeah, kelly, the fda approving the second new alzheimer's drug in two years. the brand name for this drug is called -- we'll expect to wait and see when it opens. the stock could go above 300 we'll see if that indeed happens. in the approval, billy dunn who is the director of the office of neuroscience at the nfda saying this treatment option is the latest therapy to target and affect the underlying decide process of also instead of only treating the symptoms of the disease. we know this has been a controversial class. the first drug was priced high it ended up being a commercial flop this one has more clear data we're going to wait to hear where they're going to price this that will be the next big question and then, of course, after that, whether the centers for medicare and medicaid services because they declined to pay for the first one, and that was for the entire class of alzheimer's drugs, guys. back over to you. >> a huge decision, hugely impactful. thi

>> well, the first real breakthrough was the east side biogen product that was just approved a few weeks on one aspect of alzheimer's. namely, the early stage part that is caused by amaloyd. there's a buildup that gets to a platform and the plaque starts to build up rapidly and that carries the disease into its most severe state. apranoya a is focusing mainly on the tau part so it's complementary to the wonderful product that biogen just got approved and that bioof jen biot will be on the market probably the end of this month. ma

lilly is down and biogen that makes the approved drug we saw get on the market but it's not being usedi did see a headline that this fda request extends biogen's lead so to speak, i guess to be the first to market to some degree would these be directly competing treatments, meg? i mean, essentially you would do one or the other for those patients who might qualify >> that is the expectation they would be directly competing. we haven't seen any -- i haven't seen a lot of discussion about them being combined. that's an interesting idea they do target the plaques in different ways they would be directly competing and there is that idea that they're out front. >> got it. thanks so much rich, as a broad category, we actually did see a really good outperformance by traditional pharmaceutical stocks, biotech also got pretty washed out and came back. does this qualify as the kind of defensive type group that you might want to prefer these days? >> well, mike, i think you have to make a distinction between large cap pharma and large cap biotech, and then kind of sexy smaller biotech. large cap

how everybody feels about the matter and getting more pointed as go thanks so much >>> coming up, biogen getting a boost from the fda to approve its alzheimer's drug we'll speak to the commissioner about that >>> everyone looking forward to thursday's cpi report. but we're looking at alternative indicators that might get you an even better picture of what's going on "pow lchwi brit erun" lle gh back wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq if your business kept on employees through the pandemic, getrefunds.com can see if it may qualify for a payroll tax refund of up to $26,000 per employee. all it takes is eight minutes to get started. then work with professionals to assist your business with its forms and submit the application. go to getrefunds.com to learn more. i screwed up. mhm. with its forms and submit the application. i got us t-mobile ho

breakthrough was the east side biogen product that was just approved a few weeks ago by the fda and that mainly focuses on one aspect of alzheimer's. namely, the early stage part that is caused by amaloyd. there's a buildup that gets to a platform and the plaque starts to build up rapidly and that carries the disease into its most severe state. apranoya a is focusing mainly on the tau part so it's complementary to the wonderful product that biogen just got approved and that bioof jen biot will be on the market probably the end of this month. maria: and the publicly traded company, when does this go public? >> well, we went public in march of 2011. about 60 days after i left the government. maria: congratulations, wilbur. it's great to hear you're making progress here. i'm sorry? >> go ahead. thank you very much, maria. it's good to be on with you. maria: and to you. good to see you, wilbur ross joining us on that major investment. the next hour of "mornings with maria" begins right now. ♪ maria: good morning, everybody. thanks very much for joining us this morning. i'm maria bartiromo i'

drug maker biogen. earlier this month, the al fadhli greenlighted it for approval in the u.s. now the japanese drug maker is applying to the market in japan. scientists say it curbs mild symptoms of early alzheimer's. it could slow progression of the disease by about three years. but there are some troubling side effects like brain swelling and bleeding. the drug could be available in the u.s. next week and in japan by the end of this year. >>> dr. martin luther king jr. is being remembered in various ways including in the rock and roll hall of fame. we'll show you next. >>> the music community today honoring the life and legacy of dr. dr. martin luther king jr. there were exhibits and virtual programs. a number hall of fame musicians like bob dylan and joan baez advocated for social change alongside dr. king and others in their music. don't forget, you can watch it on apple tv and roku. >>> right now at 5:30, after weeks of being battered by rain, our infrastructure is showing the si inclung our highways and roadways. you've been over this. potholes! so many of them! what you

december the cognitive decline study rocketed it to 280 at this point i think people with concerned biogen has a pipeline problem i wouldn't be chasing this, although exciting for the world. >> we were talking about covid for so long. we're not talking about covid. that's the overarching thing if you're going to buy one of these names, by the top four, make your own etf. it's too by nary up and down. >> thanks, guys. up next, red hot sizzling chart of the week. we'll reveal the name next. >> sizzling. >> sizzling! later on "options action," a face-off in energy financials emerging markets and etf battle royale you're watching "fast money" live from the nasdaq mkeart site we will be back after this re re. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want - your team, ours or a mix of both. with the nation's largest ip converged network. from the most innovative company. bring on today with comcast business. pow

some external events , stress factors and endogenous depression, which is based on a violation of biogenicin of metabolic processes. eh, so if we are talking about a mild degree of reactive depression, then, of course, a person can cope on his own or with the help of psychotherapy or work with a psychologist, if we are talking about uh, moderate and severe depression, then without antidepressants it will be very, very difficult, the mechanism of action of antidepressants is associated with blocking the breakdown of monoamines under the action of monoamine oxidase and reuptake blocking monks talking about addiction, you need to know that this is a mental disorder. and as any mental disorder, it has certain clear criteria for any type of addiction, it will be alcohol, drug addiction , gambling addiction or food addiction, there are certain criteria in the first place. this is the formation of an irresistible craving for the use of a substance, the second is tolerance, that is, the desire to increase the dose of the drug taken. and the third is the loss of control over amount of substance tak

and you, as biotech from biogen, has just been approved by years regulators all swimmers, disease was 1st diagnosed and a woman named august to tear over a century ago. it's the most common cause of dementia. in general, it's expected that 2 thirds of all cases are due to all times to cease. but for a number of reasons, cures, or even adequate treatments for alzheimer's, have proven, stubbornly elusive to hasn't been a turbo. people didn't talk about it. second, on the funding, we have $15.00 to $20.00 times less funding for this disease area. go back to cancer. oh to we have equal numbers about 5055000000 in the world. and 30, it's very difficult. this is a brand disorder. and as the most difficult organ of the body has all timers, disease progresses, clumps of protein called amyloid form in the brain of the affected patient. another protein called tao, which usually stabilizes neurons instead begins to form tangles like those here in blue. that also plays a key role into generation. there is a picture and metaphor for it. so the emily ta celibacy is the trigger that of the gun. but

eisai and biogen have gained clearance for an alzheimer's treatment. by the fbi -- fda under an accelerated process. they expect the drug to start generating profit in the second half of the second year of launch. shery: the ceo of delta says he is optimistic that 2023 will be a very strong year for travel. he talked about the value of providing free wi-fi on flights. >> there is an underlying belief that connectivity is what we do. it is no secret that while you can connect anywhere you are on this planet, once you get into the sky, you lose connectivity. it is very hard to maintain. even if you are paying for it. this is about giving our customers something they have been asking for. and wondering about for years. we know there is no place in the world you pay for wi-fi than on an airplane. we needed to fix that. >> a lot of this is coming full circle as part of your big tech plan. you will have to make larger investments. talk us through that. is there a dollar value you can put around all of this? >> we have invested over a billion dollars to bring

and you as biotech from biogen, has just been approved by years regulators. oh swimmers, disease was 1st diagnosed in a woman named august to tear over a century ago. it's the most common cause of dementia. in general, it's expected that to a 3rd of all cases are due to all times disease. but for a number of reasons, cures, or even adequate treatments for alzheimer's, have proven, stubbornly elusive to hasn't been a turbo. people didn't talk about it. second on the funding, we have $15.00 to $20.00 times less funding for this disease area. go back to cancer, alter we have equal numbers about 5055000000 in the world. and 30, it's very difficult. this is a brand disorder. and as the most difficult organ of the body has alzheimer's disease progresses, clumps of protein called amyloid form in the brain of the affected patient. another protein called tao, which usually stabilizes neurons instead begins to form tangles like those here in blue. that also plays a key role into generation. there is a picture and metaphor for it, so the emily pathology is the trigger t

it was developed by japanese pharma company eyesight and you as biotech from biogen doctor's war and the treatment comes with potential risks and side effects for patient. mexican security forces have captured the alleged cartel leader of video guzman lopez, son of the notorious drug, notorious drug lord known as l chapo authority. se 10 soldiers and 900 criminal suspects were killed in the operation in the city of coolio con. as cartel members trying to prevent the arrest, the city's airport was even caught up in the violence terrified air passengers dock for coverage. their plane comes under fire during takeoff. outside cooley, a con airport national ramos captured the moment a mexican air force plane was shot at harold of my mouth, destroyed the phrase from super nervous he and hundreds of others took shelter in the airport. as the terror unfolded, the thought on the i was filming when the armed forces arrived here at the airport . and they were welcomed with shops. we tried to leave walking towards a friend's house for them, but we couldn't because they were shot into plane had t

eisai and biogen gets fda's accelerated approval. more to come on "bloomberg daybreak: australia." is bloomberg. it's official, america. xfinity mobile is the fastest mobile service. and gives you unmatched savings with the best price for two lines of unlimited. only $30 a line per month. that means you could save hundreds a year over t-mobile, at&t and verizon. the fastest mobile service and major savings? can't argue with the facts. no wonder xfinity mobile is one of the fastest growing mobile services, now with over 5 million customers and counting. get in on the savings and switch today. ♪ >> investors are intensified focus on when the u.s. government might run against a borrowing cap. kevin mccarthy barely got elected speaker. he said now the hard work begins. how difficult will it be to raise the debt ceiling this year? >> he could be very difficult. what you saw last week was valid after ballot at sir valid. there were 20 dissidents that he picked off. they were just starting to warm up for some of the fights they are going to have. there are a lot of ingredients here remini

first solar, moving again as wells fargo says is one of the -- biogen, when china and -- i want to shine a light on biotech. fda giving approval, we are seeing it up 2.8%. overall want to dial it back to what is happening at ces, on the floor, what is happening in the car story, it is up everyone's lips, it feels like a car show rather than an electronics show. ed: day two in las vegas, evs is top of mind. everyone paying attention to tesla, dropping as much as a percent friday. ev competition heating up in china shares are down after the company slashed its prices in china for the second time in two months. i'm so pleased, that bloomberg's kevin is alongside me here in las vegas, bloomberg intelligence senior analyst for autos, you have a very clear view on this, this is a demand problem for tesla is net -- isn't it? >> globally, regionally, the auto industry is cyclical. tesla has not been through this kind of demand dearth year or in china. here money was easy and cheap for this -- years we went through this period where valuation went through the roof because it was easy to afford ve

finding with the fda rush approval process for a different alzheimer's drug by the same manufacturer, biogeney say it's highly atypical and deviated from the efforts and procedures in significant suspects, and also congress weighed in to charge patients the initial drug more than $50,000 per year, saying the investigation finds that was an unjustifiably high price. so far in the wake of the damning congressional report, the fda is stauchly defensive, saying fda remains committed to the integrity of the drug approval process. fda will use the accelerated approval pathway. the drug approved last friday, 5800 and $26,000 a year, and they say medical evidence is not clear at all whether it will make a notable difference for patients who go on it. far from a cure. >> john: my mother passed away from alzheimer's in 2010 and you hope for anything that will come along and help even just a little bit. gillian, thanks for the report. >> sandra: kevin mccarthy was finally able to secure the speaker's gavel, but at what cost. >> john: we will speak about the negotiations on capitol hill and where the si

biogen, calling the review process highly a tipple and $56 per year price tag for that drug unjustifiablythat price tag and concerns about efficacy, that drug fizzled on the u.s. market. the fda insisted it remains, quote: committed to the integrity of our drug approval process. autonomous zone says will he quem buy has shown mow process but the medical not known if it will make a difference. >> tell us how patients in the current trial fare over longer periods of time. >> serious risks from the drug mr. brain swelling and bleeding it will be $26,500 a year. last than half the cost of the predecessor condemned by congressional investigators. trace? >> gillian, thank you. a federal judge in west virginia has upheld a state law that prohibits biological male student athletes who identify and present themselves as female from playing on girl schools sports teams. the court found that west virginia's definition of biological sex for school sports is, quote: substantially related to its important interest in providing equal athletic opportunities for females. up next, the u.s. begins changing

it's possible lecanemab, which is made by biogen, will be fully covered once it receives full fda approvalt brian is denying claims he recently fired the territories attorney general denise george because of her investigations into jeffrey epstein, who owned two private islands in the virgin islands. denise george's firing came days after she filed a lawsuit against j.p. morgan chase for the bank's role in financing the late epstein's human trafficking empire under the u.s. virgin islands and elsewhere. george recently secured $105 million settlement from the estate of jeffrey epstein who died in 2019 of an apparent suicide in a federal jail in new york. three environmental groups are suing french company danone for failing to reduce its plastic footprint. the yogurt and bottled water maker was recently found to be one of the worst plastic polluters, along with coca-cola, pepsico, and nestlÉ. the lawsuit is being filed under france's 2017 duty of vigilance law, which requires companies to track and reduce human rights and environmental violations. the company markets its products in the u.

markets to main street >>> plus, it's decision day over at the fda on whether or not to approve biogen'sr's drug could it set the tone for all of biotech this year? we'll ask. >>> and

going into a slowdown i like -- i know amgen's always doing something good i'm not as big a fan of biogenke their alzheimer's drug but i don't think it will be successful as lily's which i prefer and which is one of the reasons i own it for the charitable trust and spent so much time analyzing for the investing club i honestly could have populated the whole segment with nasdaq drug names i even have some good things to say about astrazeneca, and if you put a gun to my head and i say -- i bet you gilead has something positive although i haven't seen it but in the end regeneron's got a broad pipeline with a ridiculously cheap stock it's a really, really excellent situation. especially if you're expecting a severe recession because this industry is largely recession not resistant but proof. after that, though, things go off the nasdaq rails because most of last year's winners are not exactly emblematic of the index. all right. we'll start with one -- oh, you're going to hate me for saying it. i don't care did you know that pepsico's in the nasdaq r nasdaq? tremendous company with lots of raw

live from the jp morgan health care conference we're going to bring it to you. >>> in the 8:00 hour, biogenther boushey >>> take a look at the dow this morning. tesla is up 3.5% right now "squawk box" is coming right back 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. just look around. this digital ageis fast, we're living in, it's pretty unbelievable. problem is, not everyone's fully living in it. nobody should have to take a class or fill out a medical form on public wifi with a screen the size of your hand. home internet shouldn't be a luxury. everyone should have it and now a lot more people can. so let's go. the digital age is waiting. >>> jp morgan health care confer

delay the commercial introduction of the drug by several months if the agency decides to approve it biogen could benefit some analysts say it means it will have a full year to market its drug as eli lilly awaits approval. >>> alphabet will eliminate 12,000 positions the ceo telling workers in the email the cuts are global. this comes the day after microsoft stated it will cut jobs as well meta and amazon and this news about alphabet >> and why wouldn't you cut? you have cover you have macro cover you have industry cover. you have every reason to say it is time to get lean. >>> speaking of layoffs. wayfair reporting to layoff 1,000 workers. that is 5% of the work force according to the wall street journal. this is the second round of layoffs for the company. >>> fed officials getting everything out of their system before the central bank begins its pre-meeting quiet period tomorrow that includes new york fed president john williams who spoke last night steve liesman is joining us now. a lot of fed speak this week now we will have that quiet period, steve. >> not quite, scott. i'll tell you

partner biogen, accelerated approval for its alzheimer's drug. >> millions of chinese traveling domesticallythe nation's biggest holiday season. a discussion on that with eric zheng, a little later. details of the bloomberg school, next. this is bloomberg. ♪ >> chinese officials are set to be molding a record quarter for local government bond issuance this year as well as raising the budget deficit target and further moves -- in further moves to bolster a sagging economy. stephen engle, is this the old debt playbook? what do we know? >> yes, the old cocktail they often turn to of course, that is getting growth from infrastructure spending from the various provinces, so the local government finance vehicles, there's a quarter every year for them to be able to sell bonds and raids -- and raise funds for the, we are hearing from persons within the chinese government that they are mulling a record increase or a special quota for these bonds this year to be at a record level of 3.8 trillion yuan. that's 560 billion u.s. dollars, the previous record was $3.75 trillion. just a little bit of an incr

eisai and biogen have gained initial u.s. clearance for their alzheimer's treatment. under the brand name lecanemab was approved by the fda under an accelerated pathway and will cost around $26,000 a year. the drug started generating profit in the latter half of the second year of its launch. avatar the way of water is retaining the top spot at the box office for the fourth week in the u.s. even as the horror film megan debuted with a $30 million ticket sales. the low-budget slasher is hollywood's first hit of the new year with sales are still below the 3d sequel which has raked in $500 million domestically. $1.7 billion globally. haslinda: you have not watched avatar, you have to catch it. it is fantastic. there is jubilation in cities across china as the long-awaited reopening sparks a homecoming rush for many chinese who have been living abroad. we sent reporters to three major airports to gauge public reaction. >> i am here in the border with hong kong where thousands of travelers are about to make their journey back to mainland china for the first time in three y