Diamonds and Dogs
Good news for people with knee pain. Drug company, Vericel (VCEL) saw its shares jump 57% after the FDA has approved its treatment of symptomatic cartilage defects of the knee in adults, or MACI. The treatment of articular cartilage defects in the knee is challenging because articular cartilage in adults has minimal capacity to repair itself. While orthopedic surgeons have long understood that autologous chondrocyte implantation can regenerate cartilage tissue, the previous surgical procedure was technically complex and time consuming, and the indicated patient population was limited. MACI is the first product to show a statistically significantly greater improvement in pain and function scores compared to microfracture, a commonly performed alternative surgical treatment for cartilage repair.
General Motors (GM) caught between Trump and China. Trump has made some harsh comments toward China and our trade unbalances. China may be firing back warning that a penalty for monopolistic behavior will soon be issued against a U.S. automaker for impeding competition. China Daily didn't name any U.S. automaker, but Wall Street thinks its GM with the stock dropping 4% today verse Ford down only 1.8%. It may get tougher for US companies in China going forward.
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