. >>> highs and lows for the drug makers roche falls on the failure of a skin cancer drug while novartis rallies astrazeneca gets a boost. >>> and leaks ahead of apple's product launch reveal the tech titan could be ready to unveil a phone that costs $1,000. >>> good morning, everyone it's monday. how are you? did you have a good weekend? >> i did i was put to work in the garden by my mom. >> you were physically active? >> very, very physical very active. >> in a way if we take a look at markets today, they're seemingly very calm. it's because we didn't have the latest missile test coming out of north korea that was factored into the markets because we saw that founding day in north korea over the week end are you surprised it didn't happen or do you think it's precisely because everyone was expecting it that they didn't do it >> i think it's going to ebb and flow it's going to be very, very episodic i think september is going to be one of volatility led by the geo politics and nobody really knows the end game on this one so i think it's just going to be yet another brink in the wall tha

and lead doctors the failed to monitor these patients more closely for potential harm drug makers roche and genentech the manufacturers of a camera are now facing thousands of lawsuits plaintiff's attorneys claims that roche and genentech failed to properly test that camera before placing it on the market they failed to warn doctors and patients that the medication was just as likely to cause serious injuries as competing drugs they concealed evidence of the dangers of the drug from the government in the public and the drug makers misrepresented the safety of the medication and its marketing material and publication pretty much a grand slam of fraud that patients have a right to be able to make informed choices about what medications they take but when you have a drug company that hides the real dangers of their drugs from doctors it becomes impossible for consumers to make an informed.

and it's led doctors to fail to monitor these patients more closely for potential harm drug makers roche and genentech the manufacturers a victim or are now facing thousands of lawsuits plaintiff's attorneys claims that roche and genentech failed to properly test that temora before placing it on the market they failed to warn doctors and patients that the medication was just as likely to cause serious injuries as competing drugs they concealed evidence of the dangers of the drug from the government in the public and the drug makers misrepresented the safety of the medication and its marketing material and publication pretty much a grand slam of fraud that patients have a right to be able to make informed choices about what medications they take but when you have a drug company that hides the real dangers of their drugs from doctors it becomes impossible for consumers to make an informed choice and make no mistake that's exactly what big pharma wants because second people the very time they start questioning the safety of a drug the profits of those big drug companies begin to fall. joini

and drug administration approve amgen's cancer treatment, a biosimilar to an existing drug made by roche, the first made for use in oncology. the agency said the approval of biosimilars can lead to lower health care costs, ultimately. amgen's shares fell. >>> the venture capital firm social capital raised $600 million in its initial public offering on the new york stock exchange. social capital is known as a special purpose acquisition company or spac. it plans to invest in private tech companies that are the no yet public. the company's ceo says social capital has found a way to appeal to tech companies that want to go public without taking the traditional ipo route. >> what we're going to use the spac for is to secure 25 extremely well-known, thoughtful investors who we represent the best of the best. neutral funds, sovereign wealth funds, extremely well-known blue chip hedge funds. and now together what we're going to try to do is to get to a better understanding of great companies and help those companies exist in a more stable context in a public market. >> shares of social capital

general assembly which he called the most feared roche's declaration of war in history in new york north korea's foreign minister really young whole raise the stakes even further have a listen. i think the strongest ever hydrogen bomb test might be conducted in the pacific ocean. draw in correspondence show there in the film now jason what are we to make of north korea's threat to test a hydrogen bomb over the pacific. listening to what foreign minister rewash is saying it sounds like he was just improvising when speaking with journalist there's no sign right now that kim jong un regime is preparing to test a hydrogen bomb out in the pacific it would be logistically challenging of course north korea's previous six tests have all been underground in north korea but doing it out of the pacific would make it much more vulnerable to some sort of preemptive strike an opportunity to shoot it down by the u.s. or maybe even japan so no signs of that is a minute at all and all of korean state media have kicked out at their chinese counterparts accusing them of fighting with the trump administrati

roche, why ison he the one to leave the exploration into the deep. why do we trust this guy? was like, i want to find somebody going out and exploring the ocean, and no one is doing it. each of those four submarines is owned by government, used for national purposes. so, there are a few sobs out there, one off built by engineers. there is very little r&d going into this. going tos like, i'm have to build my own, because there is certainly a need for research, oil platform repair, he has a whole list of things he will able to do once he builds this sub. but tourism is sort of his gateway drug. looking at the business aspect of this, this is the guy who came into some money, he was also driven by this and refurbished some old subs, but the bottom line is he has some money to spend. it seems like largely, he is and he is himself saying, i am willing to do this because i see a market there that is not being serviced. why does he feel like there is such a demand for people to go deep underwater, and paid to do it? >> he originally thought oil companies would be dying for a submari

he stabbed the roche, the robber shot him. both died. he and his twin brother had been robbed before. zaerie of his tennis shoes. >> we don't know anything about him carrying a knife. he carried it secretly but he carried it under pressure because he is tired of being robbed. >> the father told us the twin barely escaped being robbed in the park and texted we spoke to zaire's god sister and godmother. >> the first thing went through my mind when i found out about this was, you know, never see him laugh again. >> he would talk about girls. he would talk about education. he would talk about his dreams. >> he was active in a number of city programs including the mayor youth leadership at d.c. employment services. >> he was a super sharp guy. definitely energetic. funny. sam: this is a picture of 19-year-old sequan gillis, whom police say was the shooter. his sister sent me this picture saying his family is grieving as well. as for zaire kelly's family, they are extremely busy. basically planning memorials, a vigil and a funeral for a young

. >> so let's talk about these deals that you've done today both with bristol-myers and with roa roche drug delivery technology it sounds like it might make it easier for patients to take medicines, maybe not have an onerous process. could you explain what your technology does? >> yes, the enhanced technology when combined with drugs that today have to be given into the vein changes them and allows them to be give b n in a simple shorter injection underneath the skin if you can imagine if for patients instead of having to have a multi-hour intravenous injection they can now have a shorter injection under the skin freeing them up to be able to get back to work or spending time with family >> all right talking about the burden these patients have to face, citi has a note out saying for bristol-myers, ketruda, a 60 minute injection every two weeks versus mercks' drug given 30 minutes every 2 weeks. could this give bristol-myers a benefit over merck's in terms of convenience? >> obviously the clinical studies haven't started yet. i think that's exactly the hope that several companies have

that is what she said about roche -- racial profiling in arizona under sheriff joe. what do you think about that? caller: it is not right. if they pull over people who have on muslim garb, yarmulkes, it is wrong. host: let's hear from grace calling from quincy -- i call from brownsville, texas. good morning. -- youclose the decision oppose the decision by president trump, why? caller: the law is the law. , the law istempt the law and you cannot change the law. -- would hee done have parted and hispanic or black person? when will this stop, how many people will he parted, his son that he parted, his son for dealing with russia -- will he pardon his son for dealing with russia? that is wrong. the laws are there for a reason. you cannot say, it is ok, you can do whatever you want because you're quite. -- white. what about the blacks or hispanics? host: brownsville is a border town, what is the situation with immigration there? caller: the immigration -- the patrol are decent people. they do not mistreat people. it looks like it will change. if he keeps going the way thi

you point out that democracy broke out in roche i russia after the bolshevik resolution and after gorbachev lost pair. why did democracy disappear from russia? >> guest: well, one thing i seek to do in the book is dismiss one of the explanations you sometimes get about russia. that the russians don't have the right dna for democracy. i just don't believe that there are any people on the face of the earth who aren't capable of democracy. david, you know that we have used cultural arguments so the germans were once supposed to be too martial. the asia were too confuse shoes. the africans were to tribal but you have ghana, bat about wanna. latin america is men 0 hornsback and champion african-americans were too child like to care about the vote but we have had black president, black attorneys general, black secretaries of state. so, i just reject this cultural argument. and with the russians you get it all the time. they just like strong men. but really, what the story is, it's the story of the failure of institutions to take hold under enormous pressure. if you think about the collapse of the

you point out that democracy broke out in roche i russia after the bolshevik resolution and after gorbachev lost pair. why did democracy disappear from russia? >> guest: well, one thing i seek to do in the book is dismiss one of the explanations you sometimes get about russia. that the russians don't have the right dna for democracy. i just don't believe that there are any people on the face of the earth who aren't capable of democracy. david, you know that we have used cultural arguments so the germans were once supp the asians were too confucius. you have south korea, japan. africans, they were too tribal.e you have ghana. you have botswana. you have kenya, going through very interesting period in democracy. latin americans prefer men on horseback. now there is bra civil and chile, colombia.n 0 horn african-americans, they were toh child like to care about the thing called the vote. we had a black president. a black attorney general. we have had attorneys general. we had black secretaries of state.t it i reject the cultural argument. you with the russians you get it all the time. they lik

look at the fact that roche is turning down as well by similar amounts and you have to back that storyhis morning. the other thing is the swiss franc is recently well bid so that is another factor, a mathematical curtsy goes up, stock comes down. they your money take a choice on that one. about two more political news. that is setting the tone of this morning. president donald trump threatening to hold sanctions with any country willing to do business with north korea after they tested a hydrogen bomb over the weekend. sensory general james mattis said north korea would face military response if u.s. or any of its allies are threatened. let's bring in yvonne man insult. bring us up this -- in seoul. bring us up on this. we have further development taking place. south korean intelligence has been able to detect the north might be preparing for some kind of missile launch. here we go again. tensions has escalated in the last 45 minutes. no timeframe according to south korean officials on when that will happen, but we have seen history in the past that they like to choose monumental dates

with their ailing eye care division, and the perennial question of what they do with their stake in roche for him. the company faces what could potentially be a return to growth in 2018. that is what the company is banking on. he is coming on at a crucial juncture for the company. guy: thank you. that chart was back to the beginning of joseph jimenez is tenure at jimenez's novartis. this is bloomberg. ♪ ♪ 5:30 a.m. in new york. this is "bloomberg surveillance." guy johnson, i am in london. tom keene enjoying the day off. francine will be back next week. let's get to first word news. >> president trump has promised to increase sanctions to any country doing business with north korea. china has called the move unacceptable and unfair, meanwhile james mattis says pyongyang will face a massive military response if the u.s. or any allies are threatened. >> we have the ability to defend ourselves and allies, south korea and japan, from any attack. our commitments to our allies are ironclad. any threat to the united states or its territories, including guam, or our allies will be met with the ma

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, with some of the checkpoint inhibitors that you've heard about from bristol-myers squibb, merck, rochen hold until we sort through the data and make sure that while we develop these experimental combinations we don't do more harm than good so that's where we are today. >> you can't even tell whether the risk profile is higher at this point, right? >> in some instances, the answer is yes so it's very widely known that the drug from merck in combination with some of celgene's products led to an imbalance in deaths in a clinical trial that's been reported earlier this year. these latest versions of the trials don't show this yet but it's very important not to get too far ahead of ourselves in miy emyel risk than benefit so we have to slow down. now relapse setting so take the world where drugs are being developed for relapsed all, cll, myeloma there the benefit risk is easier to take on so we're dealing with this ratio of benefit risk early versus late in conjunction with the fda and all of our partners developing these medicines we're stopping to make sure that we understand what's happe