Target beat second-quarter earnings expectations thanks to an increase in traffic and sales. The retailer boosted its full-year estimates.Retailread more
Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
"Lowe's has lagged for years ... it seems that under the guidance of Marvin, the new CEO, Lowe's is really getting its act together," said Oppenheimer analyst Brian Nagel.Retailread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
After a rush on refinances, homeowners took a breather last week, despite still seeing the lowest interest rates in about three years.Real Estateread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
Huawei CEO Ren Zhengfei laid out plans to bring more efficiencies to the organization. This included simplifying the reporting structure, cutting down on surplus staff, axing...Technologyread more
Wall Street still has an appetite for Beyond Meat, but two traders have a better way to play the stock.Trading Nationread more
China has used both monetary and fiscal measures to lift economic activity as its trade war with the U.S. looks set to intensify in the coming months.China Economyread more
Novartis@ (Adds Novartis response)
Aug 9 (Reuters) - A U.S. judge on Friday said two patents relating to Amgen Inc's blockbuster rheumatoid arthritis drug Enbrel were valid, denying a challenge by Novartis AG, which is seeking to launch a copycat version.
U.S. District Judge Claire Cecchi in Newark, New Jersey rejected arguments by Novartis' Sandoz unit that the patents covering Enbrel's active ingredient until 2029 should not have been granted because their concepts were already contained in previous patents.
Novartis said it would appeal the ruling to United States Court of Appeals for the Federal Circuit.
Enbrel generated $5.01 billion in sales for Amgen in 2018 and belongs to a class of medicine known as biologics, made from living cells and are therefore difficult to copy with precision.
The FDA in 2016 approved Novartis' Erelzi as a so-called biosimilar, meaning it is not different from Enbrel in any clinically significant way, but is not identical as a generic drug would be.
Amgen has the exclusive rights to patents originally granted to F. Hoffmann-La Roche AG on etanercept, the protein in Enbrel.
The company sued Novartis' Sandoz unit in 2016, seeking a court order blocking Erelzi sales on the grounds that it would infringe the patents. (Reporting by Jan Wolfe and Ankur Banerjee; Editing by Shinjini Ganguli)