Obamacare puts a floor under U.S. economy in first quarter

Murillo reads a leaflet at a health insurance enrollment event in Cudahy, CaliforniaHealthcare spending increased at its fastest pace in more than three decades. That surge is attributed to the implementation of President Barack Obama's signature healthcare law, the Affordable Care Act, also known as Obamacare. "GDP growth would have … been negative were it not for healthcare spending," said Harm Bandholz, chief economist at UniCredit Research in New York. Healthcare spending increased at a 9.9 percent annual rate, the quickest since the third quarter of 1980, and it contributed 1.1 percentage points to GDP growth.

Exclusive: Merck explores $15 billion-plus drug portfolio sale – sources

A view of the Merck & Co. campus in Linden, New JerseyBy Soyoung Kim, Olivia Oran and Sophie Sassard NEW YORK/LONDON (Reuters) – Merck & Co Inc is considering selling a big portfolio of mature drugs that could fetch more than $15 billion, according to people familiar with the matter, as the U.S. drugmaker continues to streamline businesses to focus on high-growth areas. Merck, which is also in the process of selling its $14 billion consumer healthcare unit, is working with an investment bank on the potential sale of the off-patent drugs, which could draw interest from generic drugmakers, the people said. Merck's off-patent drugs are called "diversified brands" and many are sold in emerging markets. The sale processes underscore efforts by large drugmakers to shed smaller divisions they view as non-core so they can better focus on their mainstay products.

Dare to Be 100: A New Old Age

Dare to Be 100: A New Old AgeCertainly we're growing older, fast and in great numbers. But at the same time, we are getting smarter and more valuable in our intellectual competence. Hopefully this can trade-off against the tendency to stagnate and withdraw from the mainstream of life.

Republican strategy memo focuses on Obamacare, not immigration

U.S. House Majority Leader Cantor speaks at Anne Frank Tree Dedication Ceremony on Capitol Hill in WashingtonBy David Lawder WASHINGTON (Reuters) – A memo outlining the legislative agenda for Republicans in the House of Representatives lists replacement of President Barack Obama's healthcare law as a priority for the coming weeks but does not mention plans to tackle immigration reform. House Majority Leader Eric Cantor sent the memo to fellow Republicans as they returned from a two-week recess, employing a regular tool to help keep the party unified on its political message in the run-up to congressional elections in November. Republicans have put criticisms of Obama's healthcare reform law at the center of their efforts to wrest control of the Senate from Democrats and to boost their majority in the House. Cantor said House Republicans would work to "reform our healthcare system by replacing Obamacare with policies that improve patient choice, access to doctors and hospitals and lower costs." The memo also said the Republican-controlled House would pass permanent extensions of six temporary business tax breaks, including a credit for research and development activities.

Scientists urge government to save Britain’s pharma industry

The GlaxoSmithKline building is pictured in Hounslow, west LondonBy Kate Kelland LONDON (Reuters) – Leading British scientists called on the government on Wednesday to act now to save the nation's pharmaceutical industry from being swallowed up in a wave of consolidation driven by overseas rivals. In a statement prompted by a planned $100 billion (59.26 billion pounds) takeover of Britain's AstraZeneca by rival U.S. drugmaker Pfizer, leaders in pharmacology, biology, chemistry and biochemistry said the entire UK life sciences sector risked losing its lead. "The UK has been a world leader in medicines research and development, but recent closures and restructuring put this position under threat," they said. AstraZeneca, Britain's second-biggest drugmaker behind GlaxoSmithKline, is an important part of the sector and employs nearly 7,000 staff in the country.

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