The markets traded higher during the midday with the Dow climbing 89 points to 19,341. Nasdaq rose 5 points to 5,338.
Sprint partnered with Pokemon Go to create a unique gaming experience at the wireless carrier's retail locations across the nation. Specific details are still under wraps but there will be Pokestops to collect items and gyms to battle rival teams at over 10,500 stores. Players will also be able to recharge their devices.
The drugmaker that increased the price of its lifesaving EpiPen from approximately $60 to over $600 will restructure the company and eliminate approximately 10% of its employees. Details of the plan are still being finalized. Mylan agreed last month to a $465 million fine to settle charges that the company underpaid government healthcare programs such as Medicaid.
The Competitions and Markets Authority the United Kingdom fined Pfizer $106 million for raising the cost of an anti-epilepsy drug 2,600%. Approximately 48,000 patients in the U.K. need the medication to prevent and control seizures. Doctors do not recommend that epilepsy patients switch medications so those who were already taking phenytoin sodium capsules had to pay the increased prices.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 index gained 6 points to 2,218. Bitcoin added $3 to $760.
