teva tumbled. meg terrell explains why this would be the first of more drug ap to come. >> reporter: the food and drug administra doesn't control the price of drugs. it does control whether drugs are approved. that's a key part of the agency's strategy to lower the cost of medicine. >> what i think the fda is trying to do is use market forces in the form of more competition, to put pressure on drug prices. obviously when things go generic, the prices of the drugs drop. >> reporter: late tuesday, the fda approved a generic version of a multibillion dollar of a medicine for multiple sclerosis made by israeli pharmaceutical teva. it's considered a complex generic, one that's harder to copy under traditional approaches, making last night's approval a surprise. >> one of the bottlenecks at the fda was so-called complex generics which are hard to make, or have some unusual tweak to them that are different than your typical white solid pill. >> reporter: analysts estimate mylan could price the generic at

teva, they are dropping. what's behind the vemo, plus the najarians seeing unusual moves in biotech stick around to see what their trades are what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create, not just wealth, but things that matter. morgan stanley >>> we're back on halftime to you big names are on the move and in opposite direction. mylan is up and teva is down meg is here with more on why the stocks are moving in the opposite drug. >> teva with the multiple sclerosis drug copaxon, two doses, and analysts thought this wouldn't happen this year or even the year after that analysts are calling this a nightmare scenario for teva because it is its biggest product bringing in more than $4 billion in sales in 2016 and 3.5 billion in the u.s about 19% of their total sales analysts are estimating that they may come on market with a discount of 25% to 40% and captured

. >> 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 to skip right to the impact on teva since it's such a

include purdue pharma, which makes the widely prescribed painkiller, oxycontin; johnson and johnson; teva pharmaceuticals; endo health solutions; and allergan. the pharmaceutical companies filed a joint motion to dismiss the lawsuit. none agreed to our requests to be interviewed. purdue pharma told "newshour weekend": in a statement to us, jannsen, a johnson and johnson subsidiary, noted its painkiller pills... is that going to be difficult for you to convince a jury that this was harmful, when the f.d.a. was very clear in its approval? >> well, merely because the f.d.a. approves something does not mean that a pharmaceutical company cannot mislead people. and i think the evidence is clearly going to show they did consistently over a number of decades. >> reporter: attorney jodi avergun is a former chief of staff for the drug enforcement administration. now, she represents drug companies, though she's not involved in this lawsuit. >> the people that pharmaceutical reps market to are doctors; they're trained physicians. and an opioid is an addictive drug. so, it's hard for me to believe tha

teva andig seller for brought in sales of about $3.6 billion. mylan will have exclusivity for 180 days, at least on a marketing basis. shares up 19%. would be losing out and though shares are down 14%. i want to check on oil prices, because we had a fascinating weekly inventories report. it is not much changed in the price of oil, but you can see the volatility we have had in the wake of the inventory report . we had a big drawdown on crude oil inventory of about 6 million barrels, however a climb in inventories at cushing. exports from the u.s. set a a recordet imports at low so exports and a high, imports at a low, and also production rose. a lot of crosscurrents here and it looks like all of that is equally not much change as there is a lot of push and pull in the market. oil holding above $50 a -- a barrel. vonnie: thank you, julie hyman. shery: donald trump could be one step closer to appointing the next fed chair. we are learning his advisers have given him a short list of candidates they are recommending for the position. janet yellen is

you look at the investigation into these companies, they tend to focus on some of the same names, tevae 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 step of a crack down from the private secotor. >> yeah, it is interesting of different groups coming out we'll only give you a seven-day prescription and limit it in other ways there is also been scrutiny on the insurers and the pharmacy benefit managers' roles of reimbursing. opioids are generic and pretty cheap and more expensive drugs looking at the reimbursement >> and you wonder how it beca became -- >> perdue farma took that study, all the country says look,

teva very challenged on the debt side. >> a new ceo just appointed and now more challenges. >> mylanwin and a big win for multiple sclerosis sufferer wheres. i'm val. the orange money retirement squirrel from voya. i represent the money you save for the future. who's he? he's the green money you can spend now. what's up? gonna pay some bills, maybe buy a new tennis racket. he's got a killer backhand. when it's time to get organized for retirement, it's time to get voya. way to senate banking. we will see what senators like elizabeth warren will say to him a day after he says a, he has no opinion about whether these hackers are from another company. said the executives who sold stock were honorable men and followed due process. >> that's not true they may have followed due process for themselves but if i were senator warren, it's very obvious, the top level management, they knew there was a serious network traffic hack, they should have immediately closed the selling window. on august 1 the key cfo sold stock. the president of the solutions who would have known it, the work force solu

ibb is the way i would play it look what we've seen in teva and mylan. if you want to cancel out all that noise with individual stock plays, ibb is the way to play. >> mike, thank you, see you tomorrow, "options action," full show tomorrow 5:30 p.m. eastern time >>> next, are you buying pete's pitch for home depot the results when we come bk.ac well, it's earnings season once again. >>yeah. lot of tech companies are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritrade. ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ can i kick it? ♪ yes you can ♪ well i

we don't do that because our security people they may not know what m&a is and what teva pharmaceuticals is. the security is phenomenal, but certainly at the airports. let me segue to the markets, a stock market adam up 20 points. it's as though nothing can get investors down, right? despite the fact that we've had horrible natural disasters recently. >> right. trish: a horrible tragic situation in las vegas, which would think might take a chunk out of vegas's profits in the near future. >> you might think. trish: people might be reticent to travel there. the market you can't get this thing down with 22,661. >> let me just note, what happens in las vegas was one sicko. one deranged sicko. there was no conspiracy that the police have been able to point to. nor that they can prove. i think that's an important statement we have to embrace and recognize. this country is not under threat by something now suddenly because of what happened in las vegas. it was a sick, deranged person who inflicted horrible things to us. >> that's what investors are doing. >> this is not a market story, it's a h

tumbling after the fda approved mylan's generic version of teva's multiple sclerosis drug treatmentaxone >> the latest read on the housing sector and mortgage applications out just minutes ago. diana ohlich has more on the numbers. hi, diana. >> hi, becky >> rising rates and rising home prices are cutting into mortgage demand total application volume was essentially flat last week down 0.4% seasonally adjusted. that per the more importantly banker's association is now 24% lower compared to the same week one year ago that's mostly due to refinances. they were down 2% on the week. down 40% compared to a year ago when rates were lower. now, the average rate on a 30-year fixed with a conforming balance didn't move much last week up to 4.12% from 4 .11% for loans with 20% down payments mortgage applications to purchase a home, though, are still running well below historical averages and moved just 1% higher for the week. they're nearly 5% higher than a year ago, and home sales had been weakening for five out of the past six months, indicating a slowdown in the overall housing market, and

teva says they comply closely with all federal regulations.nic pain. >> purdue said they contribute safety guidelines and work with law enforcement. they deny the allegations. purdue, which makes oxycontin, pled guilty in 2007, to criminal misbranding. misleading doctors about the drug's addiction. three executives were found guilty. they've already admitted fault, at least in part. what more do you need? >> i want them to be held accountable in my county, where i live, where this damage is done. >> reporter: he and a growing number of officials taking pharmaceutical companies to court across the country, hoping the suits will be a new weapon, on what they have called the worst drug crisis in american history. >> there's going to be accounting, legally, they did this and harmed the community, their fault. >> reporter: what's the message to the drug companies? >> we're not going to stop. >> reporter: ronan farrow, nbc news. >>> coming up tomorrow, we'll look at a growing number of teens seeking help for addiction from their pediatricians. >>> j

. >> it of course, milan and teva.ad 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 the year 2019 that featured flying cars, android robots and never-ending rain here we are in 2017 and that world is still far off, but a se sequel is not. up next, we'll see if the much awaited "blade runner" sequel can re-energize hollywood's box office woes this weekend. >>> are twitter and facebook about to get sacked by current and former nfl players a new platform has l

took a bite out of teva though look at the dow and off nike gaining 1% of course it's been hard hit latelygeneral electric, jpmorgan down about 1% where do you think things stand here as we size up october >> well, you know, we talked to mike tuck a little bit about the ism numbers which were both into boom territory for manufacturing services and interestingly, even though manufacturing only represents about 12% of the economy, services is much more important. the isma is a high correlation to the stock market, in fact more so in the last ten years than in the long-term. over a 70 correlation on the positive side. so, i think we have to be label the careful though because some of these numbers in some cases have been biassed up or down because of hurricane affects so, it's still going to be a little bit murky, but i think we're an environment to mike's point that is very healthy for the stock market the only thing i think we have to be mindful of is the risk that we start to see inflation heat up which may force the fed to have to become a little bit tighter than what people anticipate ri

the patents which were due to expire in 2024 against alleged infringement from generic drugmakers tevalan 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 simultaneously the federal court judge ruled against allergan, of course driving its shares down, guys. >> meg, the interesting thing about this, though, is going back to the legislation that created the opportunity in the first place