and not big pharma or big tobacco taking it over. >> before i move on. you say you don't want it to be a gate way use, you don't want it to be considered a bridge to cigarette and tobacco smoking. who is letting you down, if 1.7 million teenagers are vaping. is it your retailers? does there have to be more control on that? on the distribution side to make sure that doesn't happen? you have to understand. i sued theda in 2009. we got ur verdict in 2010. it's been four years. four years since that ruling. four years of zero oversight. that is clearly irresponsible. now after a 2412 page document, on proposed rule, we get 75 days to except on it. four years and in 75 days to comment on a propose rule that is very intricate. at the end, if we would have put age verification in place, right after judge leon stated that the fda has authority over tobacco products we wouldn't even be talking about high school kids utilizing this product. because at is that point in time, it would have been an issue. as 40 attorney general stated they wanted age verification, no

naresh chouhan, head of european pharma research. international monetary fund staff has endorsed a $17 billion loan for ukraine. , russia warns that it will protect its citizens in ukraine. ryan chilcote has all the details. >> ukraine's resumption of its push to dislodge those separatists from government buildings in 10 different cities, that is what prompted the russians to reiterate a threat that if russian citizens are attacked in the east of the country, they will take that as an attack against the russian federation and respond. it is entirely possible that there are russian said harrison's -- russian citizens in the east of the ukraine. we have president obama and japan holding talks with prime minister abe but also talking about russia, saying sanctions against russia are all keyed up and are days, not weeks away if russia fails to implement that geneva accord agreed on in switzerland on thursday of last week. clearly, the situation is not looking particularly positive. rex ryan, how close is ukraine to this real financial as

this is the long fall down from the pharma cliff. it is not business as usual in the pharm industry. the fancy helicopter rides and shrimp dinners are over and now the big pharma companies are trying to figure out how they're going to survive in these new environments. as joe jimÉnez was saying these companies are going to have to look ten years ahead to figure out how are they going to double down on their core strengths, get rid of stuff that is pulling down their bottom line and tighten the ship. they're looking at everything that they can do. a lot of branded companies are getting into generics, but it's a whole new game. it's a whole new landscape. >> generics make up 80% of the drug market. >> right. >> it used to be that they would make their drugs, spend a lot of money on them. a lot of them would fail. but the big ones would be so big, and then generics will take that over, but now you're saying the big names are the generic drugs too. >> yes, we're seeing landscapes where patients can't afford to pay sky is the limit prices

large cap pharma companies are under pressure. they can't provide that revenue growth they enjoyed historically. as a result, i think the large cap pharma companies are in the end game, as far as i'm concerned, no more mega mergers, they're not pattalable for shareholders, they don't want them. that's the end game. if this doesn't work, the pharma sector will have to take a long, hard look at themselves. >> is this the recognition that we're moving away from high growth to something which is going to be very -- >> perhaps even more fmcg, fast moving consumer goods and potentially utilities as an angle. where i do see the growth is the biotechnology sector. i think it's tremendous in terms of enknow vacation, growth, look at gilead and hepatitis c. the pharma sector will dip in and acquire assets s on an as needed basis. >> lovely seeing you this morning. head of life sciences research at senco securities. get your questions through on e-mail or twitter. @cnbcwex is the twitter address at cnbc.com as well. >>> staying in the sector

big pharma works together, separately. stocks moved yesterday on what's being called a major 3-part transaction in the drug industry. glaxosmith kline is selling its cancer products business to novartis for the price tag of 14 and a half billion dollars. novartis will turn over its animal health division to u.s. firm eli lilly for 5 billion dollars. and glaxo will buy the vaccine division from novartis. shares of glaxo and novartis made advancements during the session ... eli lilly dropped 1%.the deals are expected to be complete in the first half of 20-15. another quarter of disappointing results for mcdonald's. fir the first 3 months of the year it reported a sales decline of 1.7%. the world's largest restaurant chain has been struggling for more than a year to introduce new menu items while its rivals did that and pushed discounts. the company did point to some good news - declines were narrowing and global sales were slightly higher in april. mcdonald's closed down 35 cents yesterday. the activist investor pressing dar

>> pharma frenzy. astrazeneca shares soar. pfizer says it is still interested in a deal. >> the french connection. jeff immelt arrives in paris to defend his offer for alstom. siemens proposes a european solution. >> president obama says new sanctions against russia will be unveiled today and will target sectors including high-tech defense. good morning to our viewers in europe. good evening to those in asia. a welcome to those waking up in the united states. i am guy johnson. >> i am francine lacqua and this is "the pulse." >> it has been a bit of a day when it comes to m&a. it is a merger monday. pfizer has confirmed a possible offer for astrazeneca. that's talk about what is happening in the pharmaceutical sector. here with me is manus cranny and sam. gentlemen, good morning. it has been a busy morning. we have bayer to talk about as well. let's start talking about this astro transaction. maybe this isn't such a great deal but is being driven more by pfizer wanting to put all that cash it has got sitting overseas to work ra

big pharma, it's beyond my can. i still haven't learned how to handle that sort of volatility. >> thanks. time now for pops and drops. big moves up the day. charter communications up 8%. >> this stock is going to go higher and really positive subgrowth. stocks expected to go higher. >> ja solar. >> much of this is the entire solar entry ba solar industry based in china. stay a way for a few more days. i like the stoolar names but yo don't want to catch the falling knife right now. >> jcpenney. >> you have to remember there's a shortage of 33%. anything is going to spark the stock to move higher. i still wouldn't be a buyer but not a short seller. no touch at this point. >> drop for wynn down 4%. >> this one looks nasty. 200 at the neckline. a round trip of 30% move that it was up a few weeks ago. listen, i think still clear this thing unless it closed above 200 consistently. >> and a porn site with the name similar to fire tv. it didn't take long for the adult channels, fyre tv to file suit. it states that content c

to discussus now novartis and the other farmer pharma deals is sam.att, let's kick it off with you. this is novartis streamlining, selling off to yet and said they are ready -- 2 younis and send they are ready to sell off. but this is actually 4 transactions in one day which is remarkable for any company especially a company that has been going through as a joe him and has mentioned this portfolio review. ishe alluded to, the company built around a visa three big businesses. they do have a roadmap going for. the question becomes, the pharma sector is very rapidly moving dynamic sector. no one is standing was dealt -- still as we have seen from other companies. this a very fast-moving sector. whether it is enough for novartis to keep going is the big question. and were is a lot of m&a learned that pfizer was looking into a deal. it has now stopped. what does it mean for novartis? the strategy is clear but fast-moving. do they have it right? >> two or three things they have done has been in line with what they have been saying. realizing value. getting

if you like cannabis, it's gw pharma.s their target 103? >> 103. >> probably going to be there in 48 hours. this is a real company, it is a -- there's a lot of pent up demand to play medical marijuana stocks. you want a real company that dabbles in it, it's gw pharma. >> keep our eye on that. >> mad tonight? >> three of the controversial stocks out there. rich kiner from kinder morgan, dramatic under performer, gme paul raines, people short that thing, one of the heavily shorted stocks and david lesar has not done tv in a decade, halliburton has done a smoke show quarter and he's coming on to talk about it. i feel like we did the boston marathon, congratulations. >> see you tonight 6:00. existing homes after break. don't go away. ♪ [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ she can print amazing things, right from her computer. [ whirring ] [ train whistle blows ] she makes trains that are friends with trees. ♪ my mom works at ge. ♪ in today's market, a lot can happen in a second. with fide

pharma, football, fashion.ahrendts leaves to apple this week highlighting the focus of the tech giant on improving its retail performance. let's find out what is going on. even thoughe, earnings impressed investors last week, angela ahrendts is getting a tough gig here. >> she could well be. the euphoria of more money being given back to shareholders, a 17% increase in iphone sales, but scratch the need for service. there are some weaknesses when it comes to the retail aspect of apple. retail sales were flat for the last quarter. they are getting less bang for their buck from these gorgeous stores that they have that were really steve jobs' incarnation. we are seeing 2013 retail profits down 13%. even though they opened 26 more stores. what is going on here? it seems to just be the key issue that is confronting apple in general. the fact that you are getting cheaper competitors and copycats. now they have got asian rivals copycatting to a certain degree. hic isn't only being done by apple anymore. the genius is

an investigative panel set up by the swiss based parent of japanese firm novartis pharma has concluded its employees manipulated tests of a new leukemia drug. executives of novartis pharma have admitted their staff interfered with trials on the drug known as to cigna the university of tokyo hospital in organizations conducted the studies. the panel report says the employees and to the geese guidelines and worm will have a chance for the planning to data analysis stage. the panel concluded the employees got three of the relevant documents last december after learning of any cheese coverage of the issue. the report says staff are deaf patient data is obtained from doctors. a possible violation of privacy laws. the panel said their managers are responsible for failing to provide proper supervision and for allowing their involvement in the drug trials the night. it is going to have great faith that the company has been contacted in korea but the company. penalties could be a lot of the called involvement of the staff of polling. novartis pharma officials say they take to study seriously th

on the pharma side, judge, i think pete's got the bold points on pharma.n the bioagain, i end on the celgene side. there's so much potential, whether it's multiple sclerosis, non-hodgkin's lymphoma, those are reasons to be focused on the big, total addressable market, rather than over on some of the orphan drugs and so forth. so biotech, love it on this correction. i don't hate it. >> here's where you're losing me. >> okay. >> at the top of the show, we're talking about you should be shorting some of the momentum names. >> rather than buying them, yes. >> okay. you're talking about buying -- i would consider -- >> i'm talking about -- >> gilead and celgene, the momentum -- >> but the valuations are different. they're much different between large cap biotech and small cap biotech, and if you look at the social media, you can't even use p/e on a facebook. >> because there's no "e." >> right. and there's no such thing as gilead, celgene, they do have the earnings. a pipeline. you have to get do the day where the stocks end up. we have seen this entire high fl

but what are you looking at large cap pharma. >> i think it's fine.lk about the bubbles in biotech. but if you compare it to their close knit brothers, and they're actually cheap, so i don't think so there's a bubble at all. bubble to me implies valuations are stretched. >> it doesn't have to be just valuation when you look at the s&p spider select biotech. that thing went parabowl lick. it was the prior to 52 weeks and went up. to me, it's at the prior breakout level. it stopped at the moving average. if the market kind of holds, that's probably one you want to go back to and make back some losses over the last couple weeks. >> tonight is the highly anticipated ncaa championship game. yukon versus kentucky. could the stocks predict the winner? we've got a stock face-off next. mine was earned in korea in 1953. afghanistan, in 2009. orbiting the moon in 1971. [ male announcer ] once it's earned, usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection. and because usaa's commitment to serv

ctives wearing lab we will show you how big pharma goes after drug counterfeiters. his bossesawyer says were too scared to go after wrongdoing on wall street. you're watching bloomberg television. ♪ >> you're watching "market makers." i am erik schatzker. untold story of ineptitude of the securities and exchange commission or it could be a case of sour grapes. this is the talk of the securities bar this morning. a longtime sec trial attorney agency a fearful organization of lawyers who go easy on companies they regulate. phil mattinglynt is as fascinated by the story as i am. not only is this a parting shot at the sec by a retiring along your, he actually says he tried to get the sec to go after goldman sachs executives in that $550 million case. he wasn't successful. tell us more. critic of how the sec has operated in the wake of the financial crisis may have found their voice. to a talking point, he gets what -- what theye been have been wanting. they police the broken windows of the street level. they are unwilling to go into the penthouse floor. that is basicall

a few pharma deals.manchester united and we have china mobile reporting, imissed estimates. jonathan ferro has all the members for apple. >> decent attempt at a segway, i don't know how you follow talk of botox. a miss for china mobile, profit down over 9% on the quarter. the share of china's market coming down, 62%. don't be sold. million customers. the only reason we are talking about is because apple finally got their iphone in the game. they went on sale january 17. you can already buy the iphone in china. they did get one million pre-orders for the device. when we get apple earnings tomorrow, forget about a new product entry. look at some of the numbers. they are stellar. on the quarter, iphone skills will come in at 37.7 million units, just under 20 million ipads and 4 million macs. some tech companies would want that on the year. one company like china mobile that has a mass amount of customers and another company like apple that sells a serious amount of product. we get the numbers tomorrow. >> l

india andn pharma in it is buying ranbaxy to become the biggest from us -- pharma company in india.remember that ranbaxy, late last year, was the target of an fda rejection of some of its generic drugs being produced in the u.s. facing similar concerns as the u.s. banned some imports from sun pharma late last month. it has dragged on for weeks. tensions between students and lawmakers in taiwan have remained high. there has been a minor breakthrough. david inglis is here with the latest. what is the breakthrough? >> we had the speaker of the taiwan legislature come out and appear to have given them the biggest gesture to reach out and bridge what has been major differences over the course of those protesters. they have been there for 21 days. what do we have exactly here? he announced that there would not be any review of the services pact with china, which sparked the latest round of protests, until an oversight mechanism is past and in place. in other words, there will be no ratification of this deal just yet. it was signed in june of last year. keep in mind, it still needs approva

the worst big pharma stock -- the worst big pharma stock is doing better than the best biotech. that's harsh. bottom line, what can i say? the market made a statement today. it wants corn flakes and sham o shampoo. maybe some steel, machinery. but it doesn't want the stock it favored for the last couple years when the economy was week. holy cow, who would have thought the sweet embrace of growth would become in seven short weeks the ultimate kiss of death? let's do something new. let's take a video question. >> caller: booyah, jim, i'm from penn state university, i wanted to give a shoutout to my sister brianna and my question today is ariel pharmaceuticals. i'd like to know where you see the company going, if you see a buyout happening and what price range you can see the buyout happening? >> booyah, and brianna, a worthy shoutout to brianna. however not a worthy stock. the reason i they is because just like i mention there are some stocks that are speck or revenues. this one happens to be at the lower end of the spec cancer quadrant. ef-cell gene doing a magnificent job and th

that's what pharma has done traditionally well.etter about pharma after we got through the whole obamacare thing because we have more certainty. but the only reason you do a deal in pharma, and if you address me as a shareholder, is tell me how it's creative. don't tell me the vision and how -- show me how it's -- >> acreedive means when you buy that company, it immediately adds to your bottom line. >> absolutely. >> a company will say this will be acreedive in two years, in other words it's not going to add to our bottom line in two years because there will be costs involved. but oftentimes, a deal can be immediately acreedive. the day we buy it, that means it's going to add to our profitability, right? >> absolutely. if you're telling me it takes two years to become profitable, or make me more free cash flow, that means you overpaid for it. that's why you're not seeing as much optimism as perhaps you thought you'd get. people like me are elephants. they remember. i remember. >> amgen is out with earnings. >> we just saw a blowout

you are talking about pharma comingstocks which are into new age drugs.eople who suffered from leukemia a few years back had a survival rate of one third. now it is 90%. you are talking about new age .rugs you will see a lot of these things happening. manager,investment maybe you have some exposure to glaxo, whatever. do you begin to eat say to yourself, if i haven't got exposure in these other names, i should begin to add that into the portfolio? >> we have investments in novartis. a balance between biotech and old name for a companies. that is how i manage portfolios. m&a in europe is also going to catch up. you are going to see not very strong gdp growth or a lack of growth that we have seen. you will see companies merging together to increase their profitability, to hit their return on equity target. there could be more deals in europe. yourself?you position is it a shorter-term perspective? industries, do i begin to cherry pick industry groups where i think the value is? you pick stocks, you still pick good businesses. you position yourself with the

much of the money migrated from big old boring pharma.ut have you noticed how big pharma is not all that boring. pfizer might be buying astrazeneca. merck might be splitting up. people talking about buying the consumer product business. allergen rallied after getting a monster takeover bid. that's talks surrounding virtually every major drug company i know. who needs expensive high-flying drug developers when there's so much good happening to the cheap, big old pharmas. at the same time the model went belly up, the ipos came marching in and over the cliff and big pharma came roaring back to life. the shocking decline in interest rates, which created an environment where any stock with a good yield even if the company's not doing that well is worth owning. that's how the utilities can have a great run. even though there's no lift in the business. it's how proctor & gamble and mcdonald's probably two of the biggest earnings disappointors in the dow have been some of the best performing. people want the safety and yield that proctor and mcdo

it is now being sold for $4 billion to sun pharma.at has happened in the last best >> it has run back. >> yes. under investigation by the fda. facing troubles with the u.s. includes fourhich of their indian facilities. they have banned exports to the u.s. for not meeting standards and they have put out recalls again in the cholesterol-lowering medicine. that is the background of the concern. pharma hass, sun ranbaxyo buy laboratories. why it wants to buy it? it is because it wants to buy into the india markets and the u.s. markets with a huge potential. with these u.s. concerns, they must know how to deal with it. daiichi shares -- >> it is all shares, isn't it? >> yes, stock. daiichi shares are down by 1%. >> it is more or less a done deal. >> they must deal with this u.s. concern. last year, shares gained 25%. -- stocks have been bringing have been gaining ground. it was announced this morning, wasn't it, this deal? >> yes. three hours ago. onthe stock went up 8% friday. ok, thanks, john. -- let's take a look at some of the others.

this should make it one of the biggest takeovers in the pharma sector.ave ended, but there are still speculation that this may come back at any moment. for more on the story, let's get back to our markets editor manus cranny. what do we know so far? >> pfizer are back at the front door of astrazeneca. the price they originally discussed, 46 pounds. just shy of $100 billion. if pfizer do make an offer, they have until the 26th of may according to the rules and toulations of this country do so. they would be chasing after the early stage cancer type line that astrazeneca holds. the immune system drugs they have for cancer area and put the two together and you're talking about one of the biggest companies by revenue. 20% of pfizer sales are going to go off patent by 2017. they need a new pipeline, that is what astrazeneca offer them. just to give you a sense, astra has three dogs with the ilion dollars coming online in terms of trial. 11 new drugs in late stage in studies. what hurdles to the face? it could be such a huge company that they may have to sell

. >>> pharma frenzy, more than $60 billion worth of deals, what is driving them and is the industry entering a new era? >>> changing the channel, the supreme court is hearing a case that could shake up the television business and change the way people watch and pay for their favorite shows. >>> where is the beef? mcdonald's reports another disappointing quarter. what is ailing the world's largest restaurant chain and what is being done to turn things around. tonight, on "nightly business report" tuesday april 22. >>> good evening, everyone, some are calling it a merger boom. others say it is a tsunami. there has been a frenzy of mergers, acquisitions, and deals in the pharmaceutical industry just in the past 24 hours. the big one today? novartis, the swiss drug maker announced a series of transactions valued at more than $20 billion that will retool its pipeline. the news comes a day after valiant teamed up with bill ackman to buy for $50 billion. there were hopes there could be a lot more deals to come as some of the biggest names in the industry looked to get out of non-core businesses and

. >> stephen: what if i were to till you sound like you are the-- popular of big pharma. they make the inoculations, they are making money, greasing your palms that is out there now, respond to it. >> yeah, so-- (applause) >> you know, it's amazing to me that we just keep knocking big pharma when in fact you can't on the one hand praise the fact that these vaccines have saved their lives, have allowed our children to live longer, better, healthier lives and then say that just dismiss the people that make it, that make these vaccines safely and effectively. (cheers and applause) >> stephen: all right, all right, all right. if you want to-- if you want to play the longer better healthier lives card, there's nothing i can do well, doctor, thank you so much for joining me. dr. paul offit. dr. paul offit. we'll be rig♪ ♪ack. new hershey's spreads. bring the delicious taste of hershey's chocolate to anything - everything. with new hershey's spreads, the possibilities are delicious. >> stephen: welcome back, everybody, thanks so much nation, it's no surprise but i have had it up

he's the director of pharma research at morningstar. welcome good to see you. what is the name of the drug? who is it for? and what did the trial show? >> the drug is palbociclib and i think it's pfizer's most important product in their pipeline. and it's targeting a special subset of the breast cancer population. and right now the subset really doesn't have a lot of good treatment options. and what this drug showed was almost a double the benefit in progression-free survival. now that's an important end point that is a positive for the drug. however, expectations for this drug were much, much higher, hence that's why we saw the major pullback today with pfizer. >> all right. i understand, damian, that novartis and eli lilly are also working on some kind of similar breast cancer drug so it seems like between these three companies the race is on. what does this mean for breast cancer patients? how soon can they expect one of these drugs or pills to be on the market? >> i think it means a lot for breast cancer patients to have more treatment options. when you thi

an explosion of ma in pharma. we have every angle covered. bill ackman teaming up with valiant to bid for the botox maker. novartis, lily in a strings of multibillion dar deals. we call it pharma palooza. what does it mean for you? this, folks, is "power lunch." this, sue, is your "power lunch" on drugs. >> indeed it is, certainly today. we have it all covered with a fantastic team. pershing square's big ackman and valiant's ceo presenting their idea before investors and the media in new york a bit earlier. kate kellie has the takeaway. high, kate. >> we're well into hour number two of this investor presentation when we heard from both. big ackman taking the stage for the second time since i've been here just as i walked out. he'll be taking q&a in just a few minutes. a quick reminder on what this deal entails. it's essentially a proposes cash and stock transaction in which every share of allergan would be received for cash as well as a large majority of a valeant shares, a lot of talk from michael pearson today who's been successful in dlirg

friendly ones. >> the friendly ones really took place in the orchestrated swap of parts of these pharma companies in you novartis buying glaxo's canner business. glaxo selling the vaccine business to novartis, and then teaming up in consumer health cares with brands lie exdrin and sense odine. >> it sounds lie an nba trade. is this good for everybody? >> some people are saying it really looks like it is good for everybody. novartis was number two in cancer, glaxo number two. glaxo for a long time has been a leader in vaccine, now they're beefing up even further. >> and it has been a very strong start to the year when it comes to pharma m & a. the strongers start since 2009. >> and that doesn't include the hostile deal we're talking about. >> let's talk about the not so friendly deal of today. and in order to identify some of the targets out there. >> you know what happened, you are staring in herb's eyes. >> totally distracted. i'm not used to gazing at herb's beauty. >> it happens to me all the time. >> it was amazing. >> herb greenberg is here. >> he is here, distracting me. we want t

. >> meg, what is going on in biotech and pharma? this is the fifth or sixth deal above $2 billion we've seen. m&a the hottest it's been in at least five years, if not longer. what's going on? >> well, these companies have got a lot of money, and they've been through this patent cliff, as you were mentioning. they're kind of repositioning. they're finally signaling what they're doing going forward. it's been interesting. the three companies in europe that you mentioned, novartis, glaxo, and here in the u.s., lily, what they're doing is getting into areas where they're strongest. novartis beefing up, and glaxo admitting maybe it's not where it's the strongest. buying the vaccine area from novartis. so the companies are saying, hey, we won't do everything anymore, but we'll do what we do well really, really well. >> you wonder how much this is moving the same pieces around versus creating new value for shareholders. >> well, it's interesting -- >> what is gsk doing with the oncology vaccines? >> novartis is a proven leader in oncology.

valliant pharma, artificially low rates. it's enabled a rollup where guys in biotech have no distinguishing idea between the quality of revenues they're buying. maybe the worst deal we've ever seen and can't even figure out why you would do that deal if you've done any research on quest core. we think biotech is ripe. >> could talk to you all day about this stuff. thank you. >> thank you. >> i want to hear what they think about some of your ideas. what do you think? >> i love it. i would love for viewers to pay attention to what mr. fickthorne was saying. he's a pro. he can manage his risk better. you, the viewers, need to basically be -- rather than shorting stocks because you're not as nimble and not as able to hedge as he is. >> i never understood 3d printing. i missed the upside for sure. now the downside i completely understand. tons of competition. now you have hewlett packard trying to figure out if they're going to get in there and what their mix is all about. i agree with the 3d. >> if hewlett gets in there, they wi

the pharma industry has been getting heat, most specifically from congress.ou can look at prices in isolation. we don't -- it may appear we sell a pill, but the pill is just an artifact. it's an artifact of 15 years of research and risk. so i think when you look at pricing, you have to look at value. and you have to look -- the whole constellation of both access, insurance, and the value we need to continue to invest in research. >> are patients able to access those drugs at the prices where they are now? >> well, patients, if they have good insurance -- and that's what insurance is for -- they can access those drugs. if they don't have good insurance, or they have no insurance, in the united states, pharmaceutical industry stands ready to provide drugs. pfizer, particularly, i think in the last five years, we've given aw away, like, 31 million prescriptions. nobody in the u.s. who has bad insurance or no insurance need go without pfizer's products. >> well, then, let's talk about the affordable care act, because that's aiming to ameliorate the situation, peo

it becomes the fifth biggest generic drug maker in the world and the biggest pharma in india. -- a huge population. >> the hope is that they get over those as well. that is exactly what we have in prospect possibly. openlls are beginning to in india 45-week election that some observers say is the most important in more than 30 years. live pictures now as the world's biggest election gets underway. someone in mumbai. a very big day, a very big month in fact. what is at stake? india, aa big day for big day for the world's biggest democracy. voting underway. two seats are at stake in the eastern part of india. modiattle is between the the party that is trying to get back to office. facing allegations of bribery and corruption and most opinion polls in to suggest that they are likely to be thrown out of office. it will take one and a half months, this election. the magic number is going to be 272. the political formation there reaches 272 will form the new government. it looks like the momentum is clearly with the bjp. >> some criticism about modi. gandhi and his party facing crisis -- faci

big pharma. a $100with nearly billion takeover offer for astrazeneca. london-based company shrugging off the bid. up with options. our bloomberg news reporter is an expert, and we have the president of a securities specializes in the pharmaceuticals industry. great to have you both here. shannon, i want you to start it. what about the play for astrazeneca? >> as you said, pfizer made a play for astrazeneca, and astrazeneca said no way. coming back with a better deal. in the meantime, maybe somebody else can make a play, maybe amgen possibly. bigger money, or someone else's going to come in. >> steve, if anybody else comes in, don't they have to check their balance sheet and see how much money they have offshore outside the united states? >> that is very important. we are trying to figure out an acronym. divert attention. >> increase profit and reduce taxes. >> so doing all of you are of these things with this potential deal? >> if you can pull it off, doing all four, because what you have here is a situation where they can have people focus on what is h

big pharma. pfizer with nearly a $100 billion takeover offer for astrazeneca.he london-based company shrugging off the bid. saying it's too low. coming up with options. our bloomberg news reporter is an expert, and we have the president of a securities company that specializes in the pharmaceuticals industry. great to have you both here. shannon, i want you to start it. what about the play for astrazeneca? >> as you said, pfizer made a play for astrazeneca, and astrazeneca said no way. too low. we're not even talking. coming back with a better deal. in the meantime, maybe somebody else can make a play, maybe amgen possibly. otherwise, bigger money, or someone else's going to come in. >> steve, if anybody else comes in, don't they have to check their balance sheet and see how much money they have offshore outside the united states? >> that is incredibly important. we are trying to figure out an acronym. divert attention. increase profit and reduce taxes. >> so doing all of you are of these things with this potential deal? >> if you can pull it off, doing all fou

big news in the world of big pharma.ing up to take over allergan, the maker of glaxosmithkline and --announced their own deal. i want to discuss this with three experts. bloomberg's drew armstrong covers the industry, cristina alesci knows deals with anyone in the house and coming back as a hedge fund manager and director at the columbia university business school. that you have been watching this webcast, with the speaking right now. >> what he discusses is a very done and dusted deal. you can see his involvement in every step of the process. this is a fairly compelling and devastating presentation in terms of the hopes of maintaining independence in part of their takeover target. we have the financing lined up, yes, we will observe every bit ourselves, weisk will sell from our own portfolio requires.he fpc step-by-step he has gone through and laid out a very powerful case as to why they should do it. but there is still the white knight issue, they made it look like it is a very attractive product for someone else. what

the actual old line pharma had been doing well.ised if they have this nice franchise going and it represents a stock and it fits the parameters of what is working as opposed to what is not working. >> it is not working today. some disappoint given what appear to be better results. this is a phase two trial by the way. phase two is so far away from approval. >> you are along way away from an nda. >> a lot of main stream play this morning. doubling to 20 months the time that an advance tumor does not progress or grow. >> that is a mistake to sell that stock. it has done well and phizer has a lot of things that are doing well right now. there are a lot of people that want to make a stand and i say, i had a fellow by the name of david crane on. >> he's the ceo of a large company. probab probably the most forward looking. they say you ought to look at solar city. it represents the way to have a panel on your roof rather than have first solar on tonight. they are the ones you think of. you have the vast array of panels. i want to watch s

in the farmer sector -- in the pharma sector, investments in biotechnology.l industry said we cannot do rad internally. the smartest kid is going to set up a biotech company, a large pharma company finds it cheaper to buy the company and ipl rather than hiring accountants and physicists in their own department. the pharma company buying biotech companies is like investing, the equivalent of external r&d. top ing over the internet infrastructure, not just the fiber cables. >> content? >> content, people keep investing. third, i see there is investments having in robotics and mechanics. taking out costs. what is happening is you have a laborpact in terms of because the skills that are required are changing. ats should be said, we are the beginning of a third industrial revolution. we have already been it for the last four years or five years. how can 12 people setting up what's out generate $19 billion of value. you can make a product that can be massively scaled over the top. you are creating value but this is being distributed to many jobs. >> thank you so mu

. >> pharma fever.oneshis means for doc and other patients -- doctors and other. >> amazons deal picks up the battle between amazon prime and netflix. what is in it for the network it felt? we will talk to one of the creators of hbo go. it the for preparing for kentucky derby. how the company who runs the track has never been more diverse and rest reliance on horse racing than ever before. is friday. >> we are going to end the week on a high note. next week we are going to be joining you from the conference in a late. >> got to live it up in new york city while we can. time for the newsfeed. federal prosecutors what bank of america to pay a record amount to resolve investigations into faulty mortgage loans. than $13is more billion. that is in addition to the 9.5 billion dollars that they agreed to pay last month for a similar case. [indiscernible] with three small cable tv operators. adding a service on par with traditional networks. here's a be able to search for shows on netflix3. for president it is

there is talk to another big deal in big pharma.uary there was a deal to buy astrazeneca for $99 billion. they rejected the offer. pfizer said that they are still interested in coming up with a number that they can recommend to shareholders. >> and absolutely fascinating story. i thought that fill out of the paris and her -- paris news bureau did a fascinating job of giving the background to astrazeneca and pfizer. he joins us from geneva right now. i was stunned at the divide over this transaction. set up the division between optimists and pessimists on pfizer. isi think the word disbelief. a lot of analysts said that this does not make sense, given what pfizer has been saying over the last few years. they have been putting in place a system where down the road pfizer could split the company into a couple of pieces. they have also sold their animal health business. so, everything that pfizer has been talking about is pointing to a smaller, more focused company. and then this comes along and analysts and investors retching their hea