In today’s news update we’ve provided links on the health care filibuster, oil and stem cell therapy.
Democrats Unite to Break GOP Health Care Filibuster
Moderate and liberal Democrats unified behind a health care overhaul bill in the Senate today that critic Sen. John McCain dubbed “one of the great Bernie Maddoff gimmicks.”
Democrats broke a Republican filibuster in the wee hours of the morning and inched their sweeping $871 billion health care package toward passage before Christmas.
Oil hovers above $73 ahead of OPEC meeting
Oil prices hovered above $73 a barrel Monday ahead of an OPEC meeting where investors expect the cartel to keep production levels unchanged.
By mid-afternoon in Europe, benchmark crude for January delivery was up 14 cents to $73.50 in electronic trading on the New York Mercantile Exchange. The January contract, which expires later on Monday, rose 71 cents to settle at $73.36 on Friday.
Traders also have begun to watch the February contract, which was up 43 cents to $74.85 on Monday.
Athersys Inks Deal With Pfizer on Stem-Cell Therapy
(Reuters) – Athersys Inc said it sold the rights of its stem-cell therapy to treat inflammatory bowel disease to Pfizer Inc, the world’s biggest drugmaker, and shares of Athersys nearly doubled in value.
Under the agreement, Pfizer will pay Athersys $6 million upfront and up to $105 million in milestones for the investigational stem cell therapy, MultiStem.
Athersys may elect to co-develop the therapy with Pfizer and both the companies will share expenses as well as profits and losses on an agreed basis, beginning at late-stage study, it said in a statement.