Posts belonging to Category United States



Uber IPO Could Be One of Five Biggest NYSE Listings in History

Uber chooses the New York Stock Exchange

Uber Technologies has selected the New York Stock Exchange for its imminent initial public offering, handing the trading floor what could be one of the five biggest listings of all time, according to a person familiar with the matter, who asked not to be identified as the details aren’t public.

The ride-hailing giant is expected to publicly file for its offering in April, kicking off a listing that could value the company at as much as $120 billion and is likely to be the biggest of the year, people familiar with the plans have said previously. At that valuation, Uber would only have to float about 16% of its shares to make the top five, according to data compiled by Bloomberg.

https://www.fortune.com/

FDA Approves Johnson & Johnson’s Ketamine-Derived Drug For Treatment-Resistant Depression

Insurance companies would not pay for an unapproved treatment

The U.S. Food & Drug Administration Tuesday approved Johnson & Johnson’s ketamine-derived nasal spray Spravato for treatment-resistant depression. The green light means ketamine—an anesthetic abused as a party drug but promoted by some doctors without FDA approval as a necessary treatment for the most severely depressed patients—has spawned the first materially new depression treatment in decades.

Following early research by the National Institutes of Health, specialized clinics have offered intravenous ketamine treatments for depression on an off-label basis for many years. But since insurance companies would not pay for an unapproved treatment and psychiatrists are not accustomed to giving patients IV infusions in their offices, Johnson & Johnson began developing and running clinical trials on a related molecule, esketamine, that could receive a new FDA approval and be given to patients more conveniently.

https://www.forbes.com/