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Yahoo BusinessOct 25, 2020
Pelosi, White House Say Each ‘Moving the Goalposts' on Stimulus
(Bloomberg) -- House Speaker Nancy Pelosi said the chamber could pass a pandemic relief plan this week, though a deal with the White House remains elusive and the Republican-led Senate might not act before the Nov. 3 U.S. election.Pelosi and White House Chief of Staff Mark Meadows accused each other of "moving the goalposts" on stimulus legislation in back-to-back Sunday interviews on CNN, showing why there's so much pessimism among U.S. lawmakers that a deal can be reached before Election Day. Pelosi cited a continuing lack of agreement on funding for stemming the coronavirus pandemic and on aid related to education."It could happen this week in the House," Pelosi said on "State of the Union." But it's up to Majority Leader Mitch McConnell "as to whether it will happen in the Senate," she said. "We want it the sooner the better, and that's why we're making concessions."Meadows didn't sound optimistic. "We continue to make offer after offer after offer, and Nancy Pelosi keeps moving the goalposts," he said on the same show.Pelosi said the administration was delivering updated proposed language on some unresolved issues, including those related to a testing and tracing program. "My understanding is we will be reviewing that over the weekend and will be having some answers on Monday," she said.If no coronavirus relief bill is passed before the election, Pelosi said House Democrats would keep pressing for an agreement in the lame-duck session after the election. She said they would not wait until Ja

Yahoo BusinessOct 25, 2020
The Week Ahead In Biotech: Kala FDA Decision, Merck & Pfizer Earnings, Vaccine Updates And IPOs
Biotech stocks posted weekly declines in the week ended Oct. 23, pressured by the broader market decline amid mixed earnings reports and the impasse on fiscal stimulus.After declining in the first three sessions of the week, the iShares Nasdaq Biotechnology Etf (NASDAQ: IBB) rebounded in the next two, thereby recouping some of the losses.Biogen Inc's (NASDAQ: BIIB) third-quarter report headlined the biopharma earnings news flow of the week. Although the initial reaction was positive due to the better-than-expected headline numbers, the stock came under selling pressure subsequently, as investors fretted over accelerating decline in Spinraza sales and the looming binary event for Alzheimer's treatment candidate aducanumab.On the coronavirus vaccine front, AstraZeneca plc (NASDAQ: AZN) experienced another scare as a trial participant was reported as dead in Brazil. The U.K. biopharma, however, was vindicated as reports later said the said participant was administered placebo and not the investigational vaccine.Moderna Inc (NASDAQ: MRNA) completed enrollment in its Phase 3 COVE study, with the company now looking ahead to the interim readout.Gilead Sciences, Inc.'s (NASDAQ: GILD) Veklury was accorded full FDA approval during the week.Expectedly, Zosano Pharma Corp (NASDAQ: ZSAN) was handed down a complete response letter for the NDA for its migraine patch. The penny stock slumped about 40% at one point in time in the week before recovering some of
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