The past few years have brought some groundbreaking drug launches, such as the record-breaking Gilead Sciences rollout of its hepatitis C medicines and the first PD-1 cancer fighters from Merck and Bristol-Myers Squibb (BMY). This year, though, looks to be somewhat slower on that front. Drug firms will aim most of their new launches at smaller markets or will build on existing franchises. Still, Merck (MRK), Gilead Sciences (GILD) and Eli Lilly
Major averages finished mixed yesterday on lower volume. It is a red flag that markets could not stage even a modest rally after the drubbing they took on Monday. It is a double red flag that markets had the worst start to the year since 1932 and the worst first day close since 2001. Minutes from the Federal Reserveâs December meeting will be released at 2 PM EST. Futures are off almost 2% at the time of this writing on news that North Korea has successfully tested its hydrogen bomb, capable of mass destruction. Oil and junk bonds are also trading lower.