airbnb, allstate insurance company and eli lilly. [applause] none of this would be possible without your assistance and support, so we thank you again. [applause] >> this week we've had the pleasure of hearing from some of the top leaders in this country, and this afternoon we have another from the great state of maryland. governor larry job in was inoculated as the 62nd govern of the state of maryland on january 21, 2015. since taking office, he has worked tirelessly to grow maryland private sector and jobs and create more friendly future for his to his focus on improving the quality of life for marylanders, making it an easier place to live, to work, raise a family and retire with the goal of changing the state for the better. these and gentlemen please welcome the honorable larry hogan, governor of the state of maryland to the stage. [applause] >> good afternoon. good afternoon. thank you all very much. it's great to be here with you as your official host governor. i want to take a moment to officially welcome each and every one o

new competitors coming into the market including eli lilly. we have america and mmerck and coming in with generic insulin which is important with people with diabetes. >> it's a very complicated disease too. are they heading in the right direction in terms of their cooperation with technology companies because a lot of it seems to come from being able to monitor yourself and being able to give yourself the best treatment along the way too. >> we think there's a couple of things going on here. price pressure from insurance company which what we're seeing in the diabetes market is similar to glax co-a couple of years ago. there's a broader thing going on here. digital health is using technology to help patients manage their disease better and getting someone to have a better diet and exercise in some cases may have a more gant impact on their disease their some of the new drugs that are coming out. i think this is a big change that's happening in the drug world, but also across health care. >> it's not just about the insurer so it's about the ph

competition you talk us, we understand eli lilly will ramp up the competition next year. have you managed to prepare yourself and your own lineup facing similar competition? >> we have been trying to establish strategic partnerships with some of the major ppm's. in some cases, we have elected not to be on form, because we believe we have premium products that are wanting higher higher price. so, it's a normal competitive negotiation which takes place. for 2017, we are secured. we have good access. it came at a slight cost on price, but we can compete next year. anna: the health sector always a big political issue in the united states. you have an election looming. do you see any, a difference in the candidates? it is too early to say what their agenda will be and what they can do to your business prospects? >> we have not had real specific proposals from the two candidates in terms of health care, other than they feel that drug prices are too high in the u.s. we have to remind ourselves also is beingever discussed during an election campaign is not necessarily what is bei

pete, use ely lilly. >> real quick, cisco is in all the right areas because of security.u look at the fundamental story of what this company really is and the direction they're pushing, robbins is early in his tenure and i've compared it time and time again, i look at this name the way i saw hike crkr microsoft. which is why i think the stock is a $35 to 37 pd sto$37 stock next 12 months. lilly, i'm still in it. merck i just got out of this past weekend, but i might jump back in. a buy right took me out of position. >> and now the buzz kill, apple seeing its worth day since the beginning of august falling nearly 1%. this on the same day that ceo tim cook celebrates five years at the helm. and it is up some 100%. although it trails the nasdaq. dan, what do you think of apple? >> obviously this was a great example of a quarter the one reporting late july that was not as bad as expected. and the fact that the stock actually had that gap up to about 103 and then kept on going tells you that people were offsides on this one. i would not expect this thing to fill up the gap tow

meanwhile, eli lilly, after its breast cancer drug failed it meat goals bb but they still recommend continuing the trial through the first half of next year. >> we're also watching oil prices lower today as the global oversupply situation weighs on the market. venezuela is hoping to get a meeting of oil-producing countries to discuss a production cut and help prop up prices as its economic crisis worsens here. >> and talking about the geo-political fall out for oil price answers back with us from rdc capital markets, it is sort of counter intuitive that country that needs the money the most is looking for a production cut of some kind where the country that doesn't immediate the money, saudi arabia still want to keep the production the way it is. i know why they want to do that. but it is just a strange time right now for oil producer. >> if you're venezuela, you're on a bus driven by saudi arabia. so they are doing everything they can to try to get the powerful producing countries to pair back production. i didn't expect them to actually cut production but if prices were to move lower it woul

eli lilly should be in medvation their pipeline is getting challenged. >> maybe so. >> who should beng. >> that's a lot of potential. >> some of these biotech stocks like biomer rin, using the strength to raise capital to do these very difficult drug trials, but yeah, medivation is on the block. notice who else is not buying and i salute them, whom i love so much in big pharma, alice score ski, that war chest, everyone else was spending like a wild ban chi, ban chi, season four was the best of all. >> okay. >> but i do think that there was a remarkable by alex and j&j. he didn't blow his head off. let the other guys do it. >> let's get to bob pisani for a check on what is moving this morning. >> good morning, david. mixed on the markets here. remember, closing at historic highs yesterday. energy up as oil stabilizing around 43. banks are having a little tough time today, but not dramatically so. we have enough data points on the retail to make general conclusions already. the important thing is we've had five department stores reporting, including dillards and nor strom all had beat

big pharma, eli lilly, one thing left that matters alzheimer's and you know how hard that is to solve>> interesting point on medivation, which i may update people on in the not too distance future. as i reported a lot of interest there. whether it's sanofi or pfizer or celgene. gilead and or merck. >> and merck. look at gilead. one of the greatest single discoveries of all time but it's a cure. and you know cures, unfortunately, are not as good as continuals. >> yeah. >> but anyway, i bring lily to mind because once again, what i find is that when you have faith in big pharma, you better really have it nailed down. and i was shocked at opdivo, wasn't sure about -- i think lily is a little -- frankly, bau i like those guys, a little too promotional. >> noncell lung cancer. >> i went to a doctor who didn't tell me that was -- >> you heard the opening bell. here at the big board the autism society did the honors, nasdaq, communications network, there you go, celebrating their 40th anniversary. congrats on that. s&p real time exchange getting itself together, a mixed open at this point. p

in terms of eli lilly turning to biotech, parma, health care, a panel is recommending the company's lateot eat an interim goal. those results expected in the first half of 2017. a look at pfizer on the back of this, they are rivals to this breast cancer drug. now we look at other stocks around the world. cory johnson imprints and -- in san francisco has the latest on solar city. -- showing the company's turnaround plans may just be working. very different from some other retailers we have been hearing from. what is ralph lauren doing right? >> basically taking his own medicine. taking step out of the department stores where they are not selling, they will close unproductive stores. they said they will not return to growth until 2019, so anything that is better than nothing is pretty good for ralph lauren right now. alix: this is a stark contrast with other retailers like idle cores, that are trying to protect their margins and do not want to discount their sales, but say that but traffic is struggling. this wholert is thing of wanting to reclaim this one sure a brand, we want to try to b

drug maker eli lilly, a breast cancer treatment failed to meet goals.shley webster, liz peek, shah galani. i wanted to start with the economy, central bank stimulus, zero percent interest rates and no one do we see growth. scott shellady, this is for you. why don't you give your opinion on what's going on around the world. >> as we go down this rat hole of negative interest rates we are going to find that capitalism doesn't work in that environment. so what we have now is no growth with stimulus, what does that mean? i know some folks are calling the highened of the the stock market. i've never seen so many respected individuals, soros, miller, have come out and said, we're getting to the point here where good news doesn't rally the market anymore, stimulus doesn't rally the market? what's going to rally the market? probably nothing. at the end of the day we are going to set new all-record highs, but is anybody at home having an all-time high with their economic situation? absolutely not. 14 million for people out of the work force in the last seven yea