Supplier woes stir Apple demand fears, stock drops below $400

Customers visit the Apple store on 5th Avenue in New YorkBy Poornima Gupta and Noel Randewich SAN FRANCISCO (Reuters) – Apple Inc's shares fell below $400 on Wednesday for the first time since December 2011 after a chip supplier's disappointing revenue forecast fanned fears about weakening demand for the iPhone and iPad as competition intensifies. The stock dropped below $400 briefly before bouncing back to end 5.5 percent lower at $402.80, losing more than $22 billion of market value in a single day. …

Indian supply drives down the cost of childhood vaccine

LONDON (Reuters) – The cost of immunizing children in developing countries with a five-in-one vaccine is set to fall after a deal by an Indian supplier to slash the price it charges the GAVI global vaccines group. The agreement between Biological E and the GAVI Alliance, which funds bulk-buy vaccination programs for poor nations, highlights the growing role of India’s low-cost drugs sector in supplying products around the world. …

FDA advisory panel backs Glaxo/Theravance lung drug

By Toni Clarke (Reuters) – An advisory panel to the U.S. Food and Drug Administration has recommended that the agency approve an experimental treatment for smoking-related lung damage made by Britain’s GlaxoSmithKline Plc and Theravance Inc. Glaxo’s U.S.-traded shares rose 1.9 percent to $50.34 following the vote. Theravance’s shares rose 17.4 percent to $32.89 in after-market trading. The drug, Breo Ellipta, is a once-daily inhaled treatment for chronic obstructive pulmonary disease (COPD), a condition that includes emphysema, chronic bronchitis or both. …

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