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Market Update for Week of August 1, 2025
The Week at a Glance:
Stocks Fall Due to Weak Labor Market & Tariffs: Despite strong GDP data and tech earnings, major indices fell by an average of (~2.5%) thanks to new tariffs and the Bureau of Labor Statistics’ (BLS) eye-popping job market revisions
Sarepta’s Saga Continues: After one week of recommending that Sarepta stops the shipment of Elevidys, the FDA has approved the resumption of Elevidys shipments for ambulatory DMD patients
Dr. Prasad’s Short Tenure: Vinay Prasad resigned from the FDA as the Director of CBER and Chief Medical and Scientific Officer after three months in the role. The exit comes amid escalating pressure from Trump-aligned figures and backlash over actions blocking and then restoring Elevidys shipments
PE Eyes Biotech: KKR acquired a majority stake in HealthCare Royalty Partners (HCRx), and Bain Capital spun out a NewCo with five I&I assets from BMS. HCRx was a presenting company at the 2025 DNB//Back Bay Nordic American Healthcare Conference