Morning Business Report: Most FDA approved Alzheimer’s medication will be covered by Medicare
FDA approved drugs for Alzheimer’s will likely be covered by Medicare. The Centers for Medicare and Medicaid Services say they will require physicians to collect data on how well the drugs perform in the real world. Two new Alzheimer’s drugs are currently available, but only to patients who are enrolled in clinical trials.
U.S. factory activity shrank for a seventh consecutive month in May. Sliding orders for big ticket items and rising interest rates have put a damper on business growth.
Stocks rose Thursday as the debt ceiling bill was passed by the House.
Both the S&P 500 and NASDAQ closed at their highest levels since August.
Falling behind on credit card payments isn’t stopping some traveling. Visa says that travel, especially international travel, is driving credit card purchases. Meanwhile, credit card delinquencies are the highest they’ve been since 2008 and student loan payments are set to resume in August.
The Arctic Rescue Roller Coaster opens today at SeaWorld in San Diego. It will be the longest and fastest straddle coaster on the West Coast, featuring snowmobile type seats. The ride is also designed to raise awareness of the threats that climate change poses to Arctic Ocean life. The experience doesn’t end when the ride stops, though. Guests getting off the ride will walk straight into an exhibit with belugas, walruses, and seals.
