Trump's remarks came a day before the Fed was set to announce its next decision on interest rates.Politicsread more
The S&P 500 is closing in on its all-time high, and is likely to sail past it, as long as the Fed promises lower interest rates and the trade war calms down.Market Insiderread more
President Donald Trump on Tuesday announced that he will not nominate acting Defense Secretary Patrick Shanahan to hold the position in a permanent capacity. Army Secretary...Politicsread more
But a look at state-by-state data clarifies the scale of Trump's challenge. As the president tries to rally supporters at a 2020 kickoff rally in Orlando on Tuesday, he is...Politicsread more
In a tweet, Trump said that he and Xi "had a very good telephone conversation," and that "our respective teams will begin talks prior to our meeting."Politicsread more
A Bloomberg News report Tuesday morning said the White House had looked at such a move in February.Marketsread more
The order for 200 737 Max jets from British Airways parent IAG was a vote of confidence for Boeing's beleaguered aircraft following two fatal crashes.Airlinesread more
Adobe expects fiscal third-quarter earnings and revenue that are below what analysts were looking for.Technologyread more
Stocks surged after President Donald Trump said he will be meeting with his Chinese counterpart, Xi Jinping, at the upcoming G-20 summit.US Marketsread more
The move is part of a larger trend that saw the survey's 179 participants move away from risk and toward positions that reflect fear of a coming economic slowdown spurred by a...Marketsread more
Democratic frontrunner Joe Biden on Monday appealed to a billionaire Republican donor for fundraising help in his presidential campaign. But the financier, Trump-supporting...Politicsread more
The IBB, an ETF that tracks biotech's biggest players, was down more than 2 percent Wednesday, on pace for its worst day since Feb. 7, when it lost 2.5 percent. The biggest drops were Amgen, Gilead Sciences and Biogen, which were all down more than 2 percent in midmorning trading.
Salim Syed, senior biotech analyst at Mizuho Securities, told CNBC that Gottlieb represented a more "friendly FDA," adding he was "generally really liked by the biopharma investment community."
"Finding somebody better than him, that'll be hard," he added.
Gottlieb is resigning to spend more time with his family, he said in a letter to FDA staff. The physician has been commuting from his home in Westport, Connecticut, where his wife and three young daughters live. He tendered his resignation to Health and Human Services Secretary Alex Azar in a letter Tuesday.
Graham Parry, a research analyst at Merrill Lynch who covers the sector, told clients late Tuesday that Gottlieb's resignation was a "net negative for innovative biopharma companies."
Gottlieb is widely respected in the industry. In his first year as commissioner, Gottlieb approved a record number of new and generic drugs. Before his appointment, he served on the board of several drug companies and worked as an industry consultant.
"Gottlieb, in our view, as a healthcare policy expert, has been a key influence and architect, along with HHS secretary Alex Azar (former Pharma executive), of relatively innovator-friendly, evidence-based Trump administration healthcare policies and reforms laid out in its drug pricing blueprint last year," Parry said.
The FDA has not selected a replacement for Gottlieb.
— CNBC's Angelica LaVito and Gina Francolla contributed to this report.