meg tirrell has part 1 of our modern medicine series. >> not wearing any clothes, because she was inhe bath. >> reporter: you would never guess meeting caitlyn johnson, what this spuvgy 7-year-old has been through. >> i was so -- she was like, has nobody told you yet? yes, she does. >> reporter: diagnosed with leukemia at 18 months, 2 1/2 years of punishing therapy. for most kids that regimen works, she was one of the unlucky few whose cancer came back. >> i said, whatever she wants to do this weekend, we're going to do it, because she's not going to be able to go back outside. she's not going to be able to play with her friends. >> we were going to return to our old normal. >> reporter: caitlyn's doctors suggested a clinical trial of a new way to treat cancer called car-t the treatment youths a patient's own immune cells as medicine. >> we know that cancer can learn to invade the normal immune system we were encourages. weld ready to throw the hail mary pass, because we had no other options. >> reporter: t-cells he roar moved, then a virus is delivered, provide the hunters with a ho

meg, thank you very much much meg tirrell joining us stephanie, thank you for joining us >> sure. >>>, bitcoin surging to a high after rumors that china may allow trading again. up next we find out whether the bitcoin boom is for real [vo] quickbooks introduces jeanette and her new mobile wedding business. at first, getting paid was tough... until she got quickbooks. now she sends invoices, sees when they've been viewed and-ta-dah-paid twice as fast for free. visit quickbooks-dot-com. witness katy perry. witness katy perry become a legal witness. witness katy perry and left shark. or a card shark. grandma? witness katy perry work. witness katy perry firework. witness katy perry swish. witness katy perry... aaaaaaw look at that dog! katy perry: with music videos and behind the scenes footage, xfinity lets you witness all things me. >>> welcome back check out the move in bitcoin, it's above $5300 this coming on comments made on the earnings call taking a different stance of jamie dimon. citigroup's cfo said we think the area of cryptocurrency and digital currency is an area worthy of ex

i'm meg tirrell.our business news on cnbc. >>> in chester county, the jeep invasion is over. hundreds of owners turned out yesterday for an newell tent sale. the owners could get all the parts and upgrades they needed. there were lots of family activities at the festival as well. people also got a good look at our own nbc 10 jeep. usually a fall festival is a lot cooler but it was a warm night to enjoy the fall festival. 50,000 people attend. music, food, and a variety of shopping. an island is almost ready to become a new jersey state park. volunteers were cleaning up the shoreline. it was owned by venezuela as a petroleum facility but venezuela agreed to turn it back over to new jersey after ishg cleanup work. also in south jersey folks hit the pavement to raise money for autism. this was the 11th annual autism walk. all the money raised from this event stays in gloucester county supporting initiatives like social skills training, respite care, and workshops for parents and teachers. we're following

meg tirrell, thanks very much. let's get back to our conversation and debate about under armour jimmy, we hadn't heard from you yet. stocks hit a four-year low what's your take >> i wouldn't touch it i think you've got had a long way to go here, and there's an existential risk here. heim not saying this is definitely going to happen, but, you know, the reason they had such mojo two years ago is because they were signing up athletes, getting endorsements like crazy now, particularly in the mast six months you've heard a lot of athletes say under armour is not the place to go to get an endorsement. certainly in the basketball season last year you heard that. and that's going to place more pressure on product placement for under armour which is frankly where i think a lot of the north american shaels growth came, from so, you know, first off, you're not going to want to touch this stock for the next few months anyway. a lot to prove here, but even after that you need to see signs of a tangible turnaround before you ge

meg tirrell has more on the stock reaction >> look at the companies involved here across pharmacies, pharmacy benefit managers and drug distributors, you did see a big leg lower during president trump's speak when they mentioned that a number of investigations going on from states and counties, 41 state attorneys general have sent information requests for subpoenas to manufacturers of opioids. we are wondering if these stocks are down based on trump's comments see here the pharmacies, walgreens, cvs and rite aid taking legs lower. there's an article that came ou from the st. louis post dispatch talki ining about amazon gaining licenses in several states these are stocks affected by fears of amazon coming into the drug supply chain as well. potentially both of these things coming together weighing on stocks in this sector. see the distributors down there significantly. of course, they're also implicated in all these opioid investigations as well, guys >> when you add in amazon, you have a competitive attack, a regulatory attack and judicial attack happening in all the last half hour.

talking paypal. >> let's send it to meg tirrell for a different earnings report. >> looking at skechers third quarter on earnings coming in at 59 cents a share versus analyst estimates of 43 cents. also a beat on revenue coming in at $1.09 billion versus analyst average estimate of $1.07 billion. the q4 eps guidance looking maybe slightly conservative at 9 to 14 cents versus 12 cents estimate that not affecting the stock up about 22% after hours, kelly. back to you. >> i got a lot of questions for you on skechers, meg, i want to know everything you know about this company. >> it's shoes. yeah >> thank you very much, meg. >> thank you >> huge move for skechers there. >>> netflix taking a shot at nielsen after the ratings tracking company said it developed a system to track netflix streaming programs what the video giant has to say about that we will have next. >>> still ahead google and facebook feeling the heat from capitol hill in the wake of russian advertising reportedly influencing last year's election what congress is looking to do and what it could mean for investors coming up. ♪

i'm meg tirrell.ss news on cnbc. >>> in chester county the jeep invasion is over. jeep wrangler owners turned out for an annual tent sale. the owners could get all the parts and upgrades they needed. there were lots of family activities at the festival. people got a good look at our own nbc 10 jeep, news 410. just about 6:28 right now, we are following a fire that destroyed two homes, damaged a third, and sent a firefighter to the hospital. plus, bill is tracking showers in your sunday forecast. >>> we're already seeing a few rain drops in the area but the main event is yet to come. those showers will move in this morning, a warm-up this afternoon but you may still need your umbrella in a few neighborhoods. i have your neighborhood forecast just ahead. right now we're watching cape may. a few clouds overhead, getting closer to sun rise just after 7:00 this morning. this is what i make... honey bunches of oats. it's crispy sweetened flakes, plus crunchy granola clusters, plus a touch of honey. it is 'm

but i suppose he's focused on the headline number meg, thank you very much krrp thank you. >> our meg tirrellte tomorrow for one of retail investors' most widely held stocks in the market. details on what's becoming one of the most expensive shareholder prices ever next. >>> coming up on "fast money money,"errinmoney," earnings season is habit to kick off. one strategist will tell us what to expect this time around and there's more "closing bell" right after this with full service brokerage firms... again. and online equity trades are only $4.95... i mean you can't have low cost and be full service. it's impossible. it's like having your cake and eating it too. ask your broker if they offer award-winning full service and low costs. how am i going to explain this? if you don't like their answer, ask again at schwab. schwab, a modern approach to wealth management. not rebalancing your portfolio. focused on what you love, not how your money will last through retirement. we make it easier to plan for retirement with day one target date funds from prudential. look forward to your 401k plan. >>> th

meg tirrell has details for us. >> reporter: that's right, wolf, an eye drop that brings many more thanbillion a year in revenue for allergan a prescription eye drop for chronic dry eye disease. allergan had been defending the patents which were due to expire in 2024 against alleged infringement from generic drugmakers teva, mylan and acorn pharmaceuticals. they will repeal the ruling which could take a year to year and a half no generic competitors have been approved by the fda. allergan's stock had been under pressure leading up to the decision as allergan grabbed headlines for transferring patent to the st. regis mohawk tribe, part of a bid to shield them through the tribe's sovereign immunity for challenges in another patent system at least nine congressmen challenged that deal and one, senator claire mccaskill, introduced legislation seeking to aggregate the immunity in the setting to which the tribe responded it was outraged. of course it's debate that will continue to brew as drug companies argue the ipr system puts them in double jeopardy defending pa techtents on two t simultan

first, meg tirrell has the cnbc market wrap. >> hi, katy. dow dropped 12 points. s&p losing 4, nasdaq down by 10. walmart introducing a service to speed up returns to just 30 seconds. customers can use a new app to generate a qr code for an item, and return to a store for refund. and richard thaler won the nobel prize for research on behavioral economics and this can affect how they react. this is a story about mail and packages. and it's also a story about people and while we make more e-commerce deliveries to homes than anyone else in the country, we never forget... that your business is our business the united states postal service. priority: you we are the tv doctors of america, and we may not know much about medicine, but we know a lot about drama. we also know that you can avoid drama by getting an annual check-up. so go, know, and take control of your health. it could save your life. cigna. together, all the way. it could save your life. i'about thinking.g. i mean, think of all the things that think these days. thinking planes. thinking cars. thinking phone

shares of merck having a bad day wherever withdrawing a application for a key drug meg tirrell here withs dragging the shares down >> reporter: shares performing this way today and closed down 6% on friday this is when we got two important pieces of news on merck's important cancer drug. the company got three downgrades today based on worries about overreliance on this drug. this is the new immunooncology drug which harnesses the indy's magic money system to fight cancer on friday they said a key clinical trial would have its results delayed until 2019 so they can assess how well the drug helps patients live longer versus the compared arm in the study and that's going to be delayed. friday, after the market closed, merck said it was withdrawinging a european application for approval of that drug in a specific indication of lung cancer presumably because it's going to need to use those data which are going to be delayed in the clinical trial to support that approval to give you a sense of how big this market is, it's about 120 patient a year according to isi, a $15 billion potential marke

drug-makers to sign a bill before they hike prize l.it go nationwide and will it bush rising prices meg tirrell is here with more on that story this is like regulating drug companies like utilities here in california. >> reporter: yeah. they are saying if their rate hike is beyond a certain threshold they have to give notice in advance. it's 60 days for drug price increases of 16% or more over a two-year period. it would also right company to provide documentation of what went into the price increase, including any increases in clinical efficacy, if anything, the bill say, and it's not just the drug companies that are reported here. they are also required health insurers to provide big information on their biggest spending on drug costs this is not regulating drug prices we need to know how much these things cost and when they are increasing but this would affect the fast majority of big drugs in the industry. pharma, the city lobbying group is against this legislation. they say, quote, no evidence that drug cost will be lowered because it doesn't shed light on rebates and insurance companies a

the president of mylan personally named in the latest complaint, meg tirrell is following this storyat's right guys the expanded complain ads add 12 companies including lynett and the company found no evidence on the price fixing on the part of mylan. now, it is just a massive suit to read the filing and much of it centers around indian drug company, m-cure. >> stating that the two companies work together to keep prices higher than they should have been. there is a lot of alleged schemes going on in the suit which is 200 something pages long >> some of them involvedd antibiotics and big diabetes drugs, right >> yes that's right, a combination is one of themme a lot of things are in here. a lot of it is redacted. i asked one of his folks and staffers, why is there so much redacted here? there is an ongoing doj criminal investigation, what's behind those marks could jeopardize the doj's investigations they are not working together but over lapping inspection. >> meg, stick around lets bring in ronald gal >> maif you read through the indictment, and many of us have skimmed through it is

don't move >>> welcome back meg tirrell has a market flash. >> a big patent battle on their big cholesterol drugs. it looks like a win today for regen ron and sanofi essentially a federal appeals court throwing out a ban on the drug and remanding the case for a new trial. amgen is down there. we don't know when it will reopen we've reached out to both companies, and will bring you any extra news on this >> thank you, meg. it's budget day on capitol hill. the house is bringing forward the resolution to the floor and will begin debate. ylan mui ask in washington with more. >> reporter: the vote is expected to begin about 11:00 am speaking ryan was on the floor making it clear this vote is all about getting to the special rules that republicans want to use to pass tax reform >> it paves the way for historic tax reform it unlox the reconciliation process. we need to pass this budget so to that we can deliver real relief for middle-income families across this country we need to pass this budget for the people who are living paycheck to paycheck in america, who are trying to juggle it all. >> rep

. >>> meg tirrell is joining us. >> that's right, there is a lot of attention paying in this. exposure making these drugs and the revenues they get from them it is not something you hear sales of opioid in the united states and prescription of opioids have climbed and matching the numbers that we hear all the time to more than $8 billion in 2016 and u.s. sales of prescription opioids alone. they are fairly distributed among drug companies when you look at the investigation into these companies, they tend to focus on some of the same names, teva and endo are among those those two companies are exposed in opioid revenue and of course, today just had news that the founder and the chairman have been arrested under cancer drug probe. we also have some other names that are under investigation as well distributors are being looked at quite close high here for their roles as well. right now is more reputational thing than it does and any sort of bottom line hit >> even before anything happens out of washington, insurers are saying we are not going to reimburse anymore. that's a first

. >>> we got another market flash this time from meg tirrell, what now, meg >> hey, kelly, wooelookingf flexion therapeutics, up this afternoon on fda approval of the company's arthritis knee drug. digging into why they're giving back some of the gains they're getting the positive nod from the fda on their drug back to you, bill. >> wow, we've had so many companies that the have popped on these fda approvals this week, right? >> yes . >> it of course, milan and teva. there had been delays of the fda waiting for the drug to get approved flexion, it's interesting that it's giving back some of the gains. david marist at wells fargo highlighted this is a big event for them. >> thank you, meg. >> thanks. >> see you later have a good weekend. >> you, too. >> heading -- what >> biotech up 2.6% this week. >> there you are. >>> we got 19 minutes left in the trading session. yes, it looks like some of these win streaks may be coming to an end today for the dow, the s&p and the nasdaq the dow right now down 16 points >>> you know, back in h 1982, harrison ford starred in a futuristic film set in

meg tirrell looking at this news and the ripple effect it's having as well. >> it's a generic version of teva's ca pax yoen which is teva's biggest problem. this came ahead of expectation. mylan has seen a few set backs. getting the approval today maybe a yearly ahead of what analysts had expected. you are seeing teva down there as mile lan is soaring on this news. this accounts for 19% of 2016 revenue. $3.5 billion in u.s. sales, $4 billion in total worldwide sales. analysts are now expecting that mylan could bring this to the market at 25 to 40% discount capturing maybe a 40% market share here as a result teva does see a hit to its q4 epc. this is an injectable drug. he wanted to speed those up and we see copaxone getting improved. this is expensive drawing, $90,000 a year for that lower dose of it. and we are seeing ripples not just from mylan and teva but buy owe gen a little bit and a lot more from mow men ta which is working on a generic competitor. mylan beating it there so mow meanta seeing negative hits. >>> david mar ris, thank you for phoning in, i appreciate it. >> ig want

. >>> welcome back let's get over to meg tirrell for a market flash here. meg?hey, kelly, we're looking at voyager therapeutics, down sharply in the after hours on the announcement the company's partner decided not to opt in o the rights to a parkinson's disease program and gene therapy. that stock down more than 15% now. voyager says it's going to have a conference call at 4:po 30 and have an ongoing relationship saying essentially their understanding is because the partnership didn't include the u.s. rights to this potential drug, sano ifi decided not to o in back to you, kelly. >> wow 15% drop meg, parkinson's, who are the other companies doing sort of focused in this space? >> well, it's interesting because voyager is taking a gene therapy approach to this space what a lot of companies have worked on really are symptomatic relief for parkinson's, this would actually be a different approach to it so voyager is one of few companies really working the space. more companies are starting to work in parkinson's, kelly. >> all right we'll see what they have to say.

meg tirrell joining us with more >> a lot of the positive performance in the drug sector year to date has been an alleviation of fierce of federal mumpt movement on drug prices and now trump making familiar comments including the phrase which he originally used in january saying that the industry in terms of its pricing is getting away with murder listen to what he said >> the prescription drug prices are out of control the drug prices have gone through the roof and if you look at the same exact drug by the the same exact coma in the same box and sold someplace else, sometimes it's a fraction of what we pay in this country. meaning as usual the world is taking advantage of the united states they are setting prices in other countries and we're not. the drug companies frankly are getting away with murder about that. >> so trump focusing in on the drug companies, but also the i have deny shal betweifferential pays and what other countries pay. he's sort of implying that he will try to get other countries to pay more for drugs and for the u.s. to pay less there is less of an imbalance. >>

. >>> this controversial patent -- cnbc's meg tirrell has the latest on the story. she join us. >> reporter: a very fast-moving story. just this afternoon, four congressmen on the house oversight committee have joined the chorus of government criticism of allergan's unusual patent agreement with a native american tribe this comes after five senators criticized the deal already and today allergan's ceo responded saying the company isn't trying to avoid patent challenges for its blockbuster eye drug restasis, just trying to avoid what he calls double jeopardy, having to defend patents in two systems simultaneously, one of which allergan is asking the senate judiciary committee to review quick stepback to review what's going on here. last month facing charges from generic drugmakers who want to make cheaper copies of restasis, allergan transferred the patents of the drug to the st. regis tribe. native american tribes it turns out have sovereign immunity to a specifickind of patent challenge known as interpartis review or ipr. the tribe moved to dismiss the ipr challeng

meg tirrell has much more from headquarters. >> reporter: i hope they're not considering strategic alternatives either, kelly. pfizer says today it plans to make a decision next year over whether it will spin off, sell or keep its $3.5 billion consumer health care unit which contains the world's best known health brands. ceo ian read said the unit is distinct enough from our core business, there's potential for its value to be more fully realized outside the company." continues a recent theme for pfizer and the rest of the pharmaceutical industry. many companies spinning out or selling so-called noncore businesses merck of course sold its consumer product units to bayer in 2014 for $14 billion. pfizer, itself, spun off its animal health business the year before pfizer had at one point been discussing splitting more broadly into two separate companies, one its faster growing newer medicines and the other, its established products business now with talk of a potential sale of the consumer unit, analysts suggested pfizer could use the proceeds to make an acquisition of its own with most speculatio

. >>> we have a news alert on merck here meg tirrell, what's happening there?hing shares of merck after hours after the company said it's withdrawn its application in europe for approval of its big cancer drug, kitruda, in combination with chemotherapy to treat a form of lung cancer that spread to other areas of the body the company not given information for why they've withdrawn this application essentially saying they're still confident in the clinical data that was supporting the application. they do have sort of accelerated conditional approval for that indication here in the united states but this drop after hours comes after a big drop today after the company reported earnings. merck closed the day down around 6% the company said they were going to delay some results from a confirm toir study in lung cancer this further news pushing it further down after hours, kelly. back to you. >> since this morning the shares are down -- >> what i find interesting about, you know, this is not the only drug stock that's had big issues celgene in particular over the pas

report third quarter results on october 24 >>> the first gene therapy approach is coming to market meg tirrellk therapeutics. >> an outside team of at visors to the fda i is meeting to discuss this new drug that could come to the u.s. market. there have been a couple approved but this is new gene therapy aims to fix the genet genetic root of the problem. it uses a virus to deliver the healthy copy of a gene spark therapeutics is working on ge gene therapy for a rare inherited form of blindness. we visited two kids part of this trial, caroline and coal carper. they were ten and 12 we talked with caroline about what her sight was like after she took part. >> i remember these kids. >> they're fantastic listen to how caroline describes this change. >> before, i couldn't see snow when snowflakes were falling and i went outside when it was snowing and i was like, oh, i can see the snowflakes. >> really? >> yeah. >> what does that feel like? >> it was really cool. like to actually see something that i've never seen in my life before. >> she can see snowflakes for the first time her brother cole could

approved for a cancer immunotherapy we will talk more about that treatment including the costs with meg tirrellthe next hour >>> blue apron cutting about 6% of its work force. the meal kit delivery company's valuation dropped by more than 50% since it went public four months ago it's been dealing with rising costs, declining customers and the threat of competition from rivals like amazon >>> look at adobe shares they are rising this morning the company offering upbeat full-year earnings and revenue guidance at its analyst's day >>> president trump is walking back support for a bipartisan healthcare deal. eamon javers has more on the story. he joins us now. >> on tuesday in the rose garden the president said some things about this bipartisan deal between senators alexander and murray that appeared to a lot of people to suggest that he supported the deal we reported to you that afternoon that the president did not, in fact, support the deal, despite what a lot of people were interpreting from his comments yesterday the president made clear that he does not support the deal here's what he said. >>