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 next key question. the second alzheimer's drug in the class now. >> i think that was a question, too, whether it would ultimately be approved. we talked to eisai throughout the process and there were safety questions about this. good news all around on the slowing of the progression of the disease by eisai ivan cheung will be on at 5:15 >>> let's get back to talking to the economy and slowdowns. you expected the fed to pause along with the market's expectations in the middle of this year. is your position that

from additional approval can be granted, and that's exactly why, meg, as you and i speak now, the eisai team is working hard to file the application for full traditional approval here friday evening, so that as soon as possible upon the full traditional approval by the fda, we can work with the cms to grant broad access for medicare beneficiaries. >> so you say they're working on it right now when do you expect that full approval application actually to be in? >> actually very soon. so stay tuned. very, very soon. >> okay. >> as we speak. >> after that, what is the time line going to -- sorry, were you going to say something else? >> as we speak very, very soon. >> as we speak what is the time line then to get medicare to sort of change its current coverage decision? >> yeah, meg, what we're going to do is while we send this approval for application into the fda we'll be working with cms and asking cms to go through the phase-three data simultaneously with the fda review so that upon the fda approval for -- under the traditional pathway, we're hopeful the cms can act very quickly. so we

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

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

. >> elsewhere in the healthcare space, shares of eisai improve after the alzheimer's drug were approved the first of its kind and we spoke earlier in the week from emily field from barclays about the drug it is helping to slow the rate of cognitive decline for patients in clinical trials. a price of $26,000 a year has raised concerns as the drug wadiw waiting for broader insurance coverage in the u.s. the ceo said reimbursement for patients should be coming soon. >> this should be the first time we had an answer to one of the puzzles. it would make a difference that is the perspective one has to take. right now, according to the guidance, they are looking for full approval. based on a file for full approval on friday evening we don't know how long the fda will take to do that somewhere i think probably toward the latter half of this year >> a significant breakthrough in that space cincor shares in a deal worth $1.8 billion astrazeneca will take $26 a share which is double the $11.78 closing price. jpmorgan chase conference continues today. our colleagues in california will bring you the

this one is being led by the japanese partner, eisai.hase 3 trial so it's a different setup. priced lower, potentially $20,000 to $30,000 it still has the same side effects, perhaps less of them. brain swelling and brain bleeding is what people are looking for there. rbc estimates biogen stood could go above $300 on approval today. if it's delayed or 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

news friday night, the accelerated approval of a new drug for alzheimer's disease from biogen and eisai. how would you characterize considering how many millions of patient have alzheimer's doze disease right now and nothing for them, where this field stands in terms of solutions >> it's been so depressing you have such a serious disease growing rapidly because we're living longer and affecting so many people and their families now we have a treatment which lowers of the risk of progression of your ability to think and calculate and all the things that are important to life that's not a cure for the disease. it just slows the rate of progression according to the clinical trials. there's new hope it's very exciting we have a lot more data that needs to come in, though, before we'll know the full extent of the benefits and exactly who should get the treatment and what the risks are in the long term but there's a lot of reason for optimism. >> so the situation right now is this drug is approved, but unfortunately very few people will probably be able to access it because medicare is not co

because there's another mover coming online in the last minute or so -- the japanese pharma company eisaioval along with its u.s. partner biogen, accelerated approval for its alzheimer's drug. >> millions of chinese traveling domestically to head home for the 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 y

eisai were up over 4%.ing approval, actually the fda declining to give approval to eli lilly's alzheimer drug, giving them an advantage as they are rival. ok, asian-pacific index, msci, up .3%, firm bowl market terrain, gaining 24% since october. bloomberg daybreak middle east is next. ♪ >>

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