A new trade deal be­tween the US and the Eu­ro­pean Union will in­clude 15% tar­iffs on phar­ma­ceu­ti­cal prod­ucts, ac­cord­ing to a White House of­fi­cial.

But the broad deal an­nounced Mon­day means that drug com­pa­nies' Eu­ro­pean ex­ports won't face ad­di­tion­al, tar­get­ed tar­iffs that the ad­min­is­tra­tion has been de­vel­op­ing through what's known as a Sec­tion 232 in­ves­ti­ga­tion, the of­fi­cial said, who spoke on con­di­tion of anonymi­ty to de­scribe de­tails of the deal.

The 15% tar­iffs on drug prod­ucts will go in­to ef­fect when the sep­a­rate 232 in­ves­ti­ga­tion tar­iffs are an­nounced, they said. That process was ex­pect­ed to con­clude as soon as Aug. 1, but is still on­go­ing, they added. Oth­er de­tails of the trade deal were in­clud­ed in a White House fact sheet that was re­leased Mon­day.

HHS Sec­re­tary Robert F. Kennedy Jr. said he in­tends to "fix" the fed­er­al pro­gram for com­pen­sat­ing vac­cine in­jury claims, which he says has “de­volved in­to a morass of in­ef­fi­cien­cy, fa­voritism, and out­right cor­rup­tion.”

Pri­or to HHS, long­time an­ti-vac­ci­na­tion ad­vo­cate Kennedy made mil­lions of dol­lars by re­fer­ring peo­ple with vac­cine in­juries to po­ten­tial court cas­es. Build­ing on that work, Kennedy says he's work­ing to re­vamp the Vac­cine In­jury Com­pen­sa­tion Pro­gram (VICP) and put vac­cine de­vel­op­ers on the hook for more com­pen­sa­tion, with ex­pe­dit­ed pay­ments to claimants.

Cre­at­ed in the 1980s, the VICP is a no-fault al­ter­na­tive to court pro­ceed­ings to re­solve vac­cine in­jury pe­ti­tions. The pro­gram has paid out more than $5 bil­lion since its in­cep­tion thanks to a trust fund en­dowed by a 75 cent sur­charge for every vac­cine, ac­cord­ing to Kennedy.

Bavar­i­an Nordic could forge an ap­prox­i­mate­ly $3 bil­lion buy­out in the com­ing weeks as pri­vate eq­ui­ty firms cir­cling the com­pa­ny have come for­ward on po­ten­tial deal terms.

Large in­vest­ment firms Nordic Cap­i­tal and Per­mi­ra have set up a pri­vate com­pa­ny called In­nosera, with the goal of mak­ing an all-cash takeover of­fer for the Dan­ish vac­cine mak­er with­in four weeks, ac­cord­ing to a Mon­day re­lease.

The firms plan to of­fer 233 Dan­ish kro­ne ($36.4) per share, which is a 21% pre­mi­um to the Copen­hagen-based com­pa­ny's clos­ing price on Ju­ly 23, when mar­ket ru­mors be­gan cir­cu­lat­ing about a po­ten­tial buy­out. Bavar­i­an Nordic con­firmed the deal dis­cus­sions short­ly af­ter.

The of­fer fol­lows "in­tense ne­go­ti­a­tions aimed at se­cur­ing the best pos­si­ble terms," board chair Luc De­bruyne said in a state­ment. De­bruyne was pres­i­dent of vac­cines at GSK un­til De­cem­ber 2018.

A small pub­lic biotech’s new Phase 3 breast can­cer tri­al, in which its drug sharply cut the risk of death in some pa­tients, could put it in a po­si­tion to over­take sim­i­lar med­i­cines from No­var­tis and Roche.

On Mon­day, Cel­cu­ity re­port­ed topline re­sults from a sub­set of a tri­al test­ing its ex­per­i­men­tal med­i­cine geda­tolis­ib against ful­ves­trant, a long­time treat­ment op­tion, in sec­ond-line HR-pos­i­tive, HER2-neg­a­tive ad­vanced breast can­cer. The re­sults sent Cel­cu­ity's stock price CELC sky­rock­et­ing 160% at mar­ket open. Pa­tients in the co­hort had the wild-type ver­sion of the PIK3CA gene, which usu­al­ly mu­tates and makes them re­sis­tant to oth­er drugs as they progress.