. -- $13.4 billion for celgene's otezla.y did that to get approval with a merger with some iris squibb. a private equity firm that parted with berkshire hathaway to end the merger that created cap times. reeling afterill that $15 billion write-down on the value of its branded this year. that is your latest bloomberg business flash. half $1 billion, the amount that andrew luck walked away from when he retired from the nfl saturday night. we now discuss his stunning announcement. everybody is talking about it today. seasons, 37in seven euros old, has taken a lot of hits. why so stunning? >> there are times in history where players walk away before they are done, but this is a guy who was in his prime. money,think about his the owner was saying, the shelf life for a quarterback, if you can stay healthy, is until about 40, as tom brady is doing. year, there isa a chance that if he played until he was 40, looking at another $500 million in his career. vonnie: how much has he earned and why doesn't matter if he doesn't have the ca

transaction celgene was forced to unload after the federal trade commission raised antitrust concerns regarding anti-inflammatory drugs bristol myers squibb doesn't currently have a drug to treat psoriasis such as otezla but does have an experimental drug in late stages of approval to street the street the street can stick in condition and stock price spike more than $2.00 and a half percent on the news is salable tesla eclipse the want to have $1000000000.00 mark in 2018 while celgene stock price had a similar increase of 2.7 percent pushing it well above the $95.00 point. time now for a quick break but straight joan because when we return as if the climate climate couldn't get any more tricky a new threat is descending upon one of the world's favorite fruits fred kaufman author of bet the farm peels past the headlines to take a look at why banana farmers are going crazy with anxiety and as we go to break here are the market numbers at the close. one. body. the. nation you know that the community yeah. you could feel that he had a ticket. i e-mailed him with a photo of the. temple. s

dollars in all cash transaction celgene was forced to unload after the federal trade commission raised antitrust concerns regarding anti-inflammatory drugs bristol myers squibb doesn't currently have a drug to treat psoriasis such as otezla but does have an experimental drug in late stages of approval to st the street the street can stick in condition and join stock price spikes more than 2 and a half percent on the news as sellable tesla eclipse the one i have 1000000000 dollar mark in 2018 while celgene stock price had a similar increase of 2.7 percent pushing it well above the $95.00 point. well that's my life but you know i started on wall street 40 years ago and i've been living in a log cheeriest life of ever cheaper money ever since and literally not having to work a day in my life because the assets bought it 40 years ago have gone straight up. with this manufactured dream sentenced to the public will. when the room in closest project themselves. in the final merry go round lifts only the one percent. to ignore middle of the room 6. 1000000 real muses. join me every thursday on

dollars in all cash transaction celgene was forced to unload after the federal trade commission raised antitrust concerns regarding anti-inflammatory drugs bristol myers squibb doesn't currently have a drug to treat psoriasis such as otezla but does. an experimental drug in late stages of approval to street the street the street. price spike more than 2 and a half percent on the new. eclipse the $1000000000.00 mark and 2018. stock price had a similar increase of 2.7 percent pushing it well above the $95.00 point. as if the climate. of the world. headlines. well that's my life and you know i started on wall street 40 years ago and i've been living in the luxury areas life of ever cheaper money ever since literally not having to work a day in my life because they assets bought it 40 years ago and gone straight up. you know world of big. law and conspiracy it's time to wake to dig deeper to hit the stories that made history media refuses to tell more than we need to be smarter we need to stop slamming the door. and shouting past each other it's time for critical thinking it's time to figh

all three are after after celgene agreed to sell a drug to amgen.quibb also announcing a share buyback. why we areer deal, seeing so much optimism and the shares up 3% is because of this divestiture of the tesla, celgene's psoriasis drug. that was one of the assets that made celgene an attractive target for that takeover by bristol-myers squibb. one of their top-selling drugs that will bring in about $1.8 billion this year. bristol-myers squibb is developing their own therapy, so that was an antitrust overlap. they have cleared the way toward the merger, getting approval and pistol myers says they expected to be approved this year. also optimism that they will get $11.2 billion in cash from this and use that to pay down debt from that acquisition, so this helps them from a leveraged standpoint. why is this such an attractive purchase for amgen? >> otezla is a growing drug. amgen'sl add to some of former best sellers are starting to taper off. it is interesting because they are paying a lot for this. one analyst estimates the price tag is equivalent

celgene has sold its psoriasis drug.ol-myers squibb had previously said it would divulge it as part of its deal with celgene. the trade war boosted demand for gold come arising more than 20% this year. the price of silver is also up. apple's reliance on china is looking like it's biggest handicap. the world's most influential consumer electronics company lost $44 billion of market value on friday. that happened after the u.s. and china escalated their trade war. almost all of the world's iphones are made in china. it would take years for apple to -- removeuction production or move it elsewhere. that is your bloomberg business flash. alix: thanks so much. it would take three years to move about 20% of iphone production out of china. here's something else of the caught my eye taylor: -- that caught my eye. an upcoming shift in investment would end up funding chinese investment. senators marco rubio and jeanne shaheen sent a letter wanting to reverse investment into the ms ci all country world index, which includes several

bristol-myers announces an agreement between celgene and amgen. $13.4 billion.re forced, as you know, having followed this closely to divest it. it had the effect of delaying the close of bristol-myers acquisition of celgene they get a good price. and the fact is the spread between what the deal was worth and where celgene is trading has closed you see it and bristol-myers benefitting a great deal this morning overall. >> dr. giovanni caforio, going back and forth with, you recognize bristol-myers, revenue stream has been challenged by merkel okay this deal, i thought they would get 10 billion max, i was very afraid that bristle mol-myers wd not be able to reduce the debt that they have taken down to get celgene. the stock was down 5 at one point. amgen is desperate for more revenue streams until the cancer drugs play out, until repatha, cholesterol drug plays out, they have enbrel, new jersey win, and now tesla, big win, and what i would tell you is there is two winners here i really believe the winner may be the celgene people who now know the deal will close

also coming up italy's far right interior minister mattel's celgene it hopes to push through a no confidence vote in the government so that he can win a snap election in italian lawmakers are to meet to set a date for the vote. and russia tries to tighten the screws on you too over the live streaming of recent posts in moscow demonstrators have been calling for free and fair elections to the city council. i'm sorry kelly welcome to the program tonight as china's show signs of losing patience with demonstrators in hong kong a senior u.s. official is calling on all sides to avoid violence saying that societies are best served when diverse political views are respected and can be freely and peacefully expressed the official spoke on condition of anonymity hong kong authorities shut down the airport earlier today as thousands of activists staged a sit in there the shutdown came as the chinese government signaled rising anger at the pro. test announcing some of the violent demonstrations as terrorism for the 1st time for. a huge occupation hong kong international shut down for most of the day i w

and celgene has prevented that from happening. the result, it was introduced in 2005 with $6000, it cost $18000, one capsule cost $720. this is an old drug. there is no excuse for this. cell gene is not piling on the money back in r&d, they are milking an old drug which is how they are keeping the stock price up and if we did not let them do that they would be forced to innovate to make money which is what we want them to do. >> think agreements. ms. norton. >> thank you very much. first for this hearing, thank you for the testimony we heard today and i appreciate mr. mitchell's. no one on the side wants anything less then a return for the extraordinary work that the drug companies do. we have had evidence here over a great deal than what anybody would regard as fair return and of course people go to canada and there's every reason to believe that drug companies want a fair return to. i think you've made the best case that we could've made by describing your own experience. i would like to ask a question, i was intrigued by she an

to go ahead with its buy of celgene within the year. they are selling the drugs amid concern from the federal trade commission because of a competing treatment that it is developing. shares of apple, meanwhile, are leading the dow higher after president trump said china had shown a willingness to resume trade negotiations. apple up about 1.5% on the day. take a look at some of the other tech stocks, those most affected by china, facebook, amazon, alphabet, netflix, all the big tech stocks all moving higher. also the chip stocks today as well. >>> take a look at tesla. starting the last week of august, as you can see, up 1%. it lost ground last week. people familiar with the matter say that the elon musk-led car maker will raise prices in china earlier than planned with another possible price increase in december. doesn't hurt the stock. tesla up more than 1%. >>> now to the group of seven. president trump not backing down but standing firm when asked about the impact that his trade strategy with china has had on the international market

. >>> bristol myers is taking a major step toward completing its $74 billion acquisition of celgene.ceutical companies found a buyer for a skin treatment. the sale they hope will address antitrust concerns. amgen has agreed to buy the psoriasis medicine for $13.4 billion. the decision comes after the ftc raised anti-competitive concerns. >>> pet stores are suing to block a maryland law that will bar them from selling commercially bred dogs and cats. the measure is billed as a check against unlicensed and substandard puppy mills. the lawsuit challenges a law set to take effect next year. maryland is the second state after california to pass a ban on the sale of dogs and cats. >>> and starting today, kentucky fried chicken plans to test plant-based chicken nuggets and boneless wings. kfc is partnering with beyond meat to develop the new product. beyond meat also sells plant-based burgers and sausages at grocery stores and fast food chains including carl's jr. the fake chicken will be sold at one of the atlanta restaurants. kfc may expand the test to other markets h. brook? >> have you

bristol-myers and celgene trading higher.t disney today, it was another dow leader, last time i checked it was top five. they are teaming up with target. they are opening up 25 business any stores in conjunction with target stores. ceo brian cornell says this is a great synergy with the two companies. the chairman of disney saying there is 90% overlap between the customer categories here. disney has the own stores, 300 of them globally. this will give more exposure starting to october. you have to think if the shops are successful in the target stores, perhaps they will do expand and do more, connell. connell: jackie deangelis at nyse. we have a half a day of trade optimism for the markets but certainly months of uncertainty for businesses. moody's managing director is here with how companies plan for the future of the environment. good to see you, ann. >> thanks for having me. connell: what we talk about more than anything else, what ceos tell us, analysts tell us, we don't know what's next so -- >> right. the market is givi

so taking a swipe at celgene he on his way out this is what the interior minister had to say in response. i would do everything i did again everything. like that and therefore i have the great strength of being a free man and. when they will do so i'm not afraid of the judgment of the italian people. if you want to complete the reform process that we started i'm here. so with conti now appointed to the role of caretaker prime minister what will happen next that's a question i asked our correspondent in rome max sander. things have changed so fast the last couple days and we don't know we don't even know what's how going to happen in the next 48 hours or so if snap elections take place it's likely to be in fall and whether or not people here are going to hold it against me that he actually brought he personally created this crisis without there having been a crisis before actually it's not clear yet if people hold that against him or if he will still come out as a as powerful and as popular as he expected to in the 1st place well that's a question max with such a tough economy blasting sa

we have some of the pharmaceutical companies up as well on a deal with bristol-myers, up 3%, celgene up 3%, and so on. we are keeping an eye on the g7 finale in france. we are waiting for president macron and president trump to speak together at a news conference. we will be live there when it happens. this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. this is "bloomberg markets." let's get a check now on global markets with taylor riggs. taylor: we are getting quite a bit of a rebound. a friday we had a four -- 4.4% decline in the stocks. you are seeing the trade sentiment reversed today, getting some green on the screen. europe, though, some of the markets are closed. europe stocks off to tents of 1%. as we know, there's not going to be a lot of moves in either direction until you get a big resolution on trade. over the months, we are bouncing ofund 2850, which has sort provided some key support levels down here. around thatouncing level, so start to take a look for any sort of resolution to see if we can move significantly higher or lower from here, depending on

in order to win approval for its pending merger with celgene. shares up 2.5% dish upgraded to a strong buy at raymond james. involving both its pay tv and wireless operations. dish shares are up just under 4% semi conductors are on pace for their best pace in a week. the sector has had a rough august, though still down more than 5%, even with this 1% to 2% move upwards. let's get to sue herera for a cnbc news update >> hi, kelly thanks so much here is what is happening at this hour. as the g7 wraps up in france emmanuel macron and angela merkel plans to organize next month. russian and ukrainian leaders would also attend that meeting. >>> here in the u.s., republican congressman duffy of wisconsin is announcing he is resigning on september 23rd to spend more time with his family duffy says he and his wife have learned that their ninth child, which is due in late october, has a heart condition. >>> new england patriots safety patrick chung pleading not guilty to a felony cocaine possession in new hampshire where he has a residence state court sai

amgen is buying psoriasis treatment otezla from celgene. 13 billion-dollar deal.aken over by bristol myers. the companies agreed to sell tesla to satisfy regulatory concerns they would be over their merger. >>> markets giving a sigh of relief as trade tensionsized this morning but all the noise really is taking away from the stock market, the fundamentals of the stock market. you can believe we'll dive into that. later in the hour, american values shifting dramatically. according to a new poll huge trends counter media hype what americans really care about. the question, how does this influence the 2020 election? we'll be right back. i'm off to college. i'm worried about my parents' retirement. don't worry. voya helps them to and through retirement... dealing with today's expenses ...while helping plan, invest and protect for the future. so they'll be okay? i think they'll be fine. voya. helping you to and through retirement. you may have gingivitis. when you brush, and the clock could be ticking towards bad breath, receding gums, and possibly... tooth loss. help

a couple of you spoke specifically and i went back and looked at celgene. that took over 14 years to develop that drug. $800 million to produce that drug. from what i have been able to see, about 140,000 patients taking hematology and oncology medicines and they have been assisted through the support programs which has contributed over $1.4 billion back to patients who are involved in taking drugs. reinvesting some 37% of the revenues back into research and development. somehow we have to strike a balance here. there is no question as to the enormous cost of people like you who are here today. all of us in this room are grateful for the tremendous job that drug companies are doing to come up with drugs that help. where you are able to be with your grandchildren. being able to get those drugs back to us in an affordable way is another issue. i am grateful for you coming here. pharmaceutical companies spend over $169 billion in newly on research development. we are blessed to be in this country where they are putting that kind of money in the research and dev

helped pave the way for bristol-meyers squibb acquisition of celgene. incredible stuff. amgen stock slightl down slighte sale. potentially dangerous goods are for sale on amazon.com, what you need to know ahead. getting through airport security faster, the 3d technology being tested to scan your bags and speed you on your way. and a surprise retirement, indianapolis colts quarterback andrew luck saying good-bye to football. we have the very latest. to our top story this half hour, futures are pointing to a l rally at the open, following comments from president trump on china trade negotiations. >> very big things are happening with china. you probably read the breaking news a little while ago, that they want to make a deal. they just came out and they want calm and that's a great thing, frankly. china called last night our top trade people and said let's get back to the table. so we'll be getting back to the table and i think they want to do something. they've been hurt very badly but they understand this is the right thing to do and i have great respec

. >>> amgen buying otezla from celgene. guess what they're paying? $13 billion. cash. as a sidebar, the deal paved the way for bristol-myers to complete its purchase of celgene. that shows you how much money there is in treating psoriasis. >>> take a look at gold. holding steady at $1540 per ounce. you have been cautious on the market. do you ever put any money in gold at all? >> i have been invested in gold for probably 15 years. now i think it's probably a better time. stuart: who knew? now he tells us. >> well, i have endured some real ups and downs. >> real ups and downs. stuart: are you buying gold mining shares or a gold etf? are you getting the gold coins? >> i'm buying the gold coins. stuart: really. >> yeah. stuart: why would jeff sic aa d that? >> first of all, i do not trust governments and the way they handle currency. i think gold is a very good hedge against currency manipulation. what i see happening now with governments -- the more the governments mess up, the more gold becomes attractive to me. i think the fact that gold has had the year it's had

had been up on wall street, won a ruling most importantly they paid $13 billion plus to get it from celgenebristol-myers now they recognize imbrel. you can't hate them because they have a cholesterol drug that isn't selling well and a migraine selling okay and some in the pipeline that could be excellent. amgen back in favor. it's extraordinary. >> it was a price above what people thought they would get particularly as a seller. >> once again, i think it's juul behind the largest deal of the year i'm sorry i couldn't contribute more altria, their stake in juul is what they think is the future. >> philip morris tag lioness focused on making america healthier. >> do you feel like taking it up it's so healthy. >> no. >> i have splunk down. mark schneider from nestle i book and book and book everybody knows that listen to my podcast. >> podcast >> i've got one. >> he's coming back. you're not leaving you are and coming back. jim will help us interview brian goldner, ceo of has broke. lots to talk about keep it right here seasoned trav. and they took my toothpaste away. and you should be mad at