In 2007, the Maryland lottery had a record year. It pulled in more than $1.5 billion of revenue… $50 million went toward running lottery operations, $110 million to retailers, $500 million to the state, and winners collected the remaining $900 million.
For the first time in modern history, the US economy finds itself back with the masses, flying coach instead of first class. These shocking facts say it all:
There’s an old Wall Street adage that tells us that “the trend is your friend.” And there’s a witty bit of wisdom we’ve developed here at Money Morning to help guide our readers and us that says: “Go global or go home.”
The Japanese have gone on a shopping spree. In the last six months, two of Japan’s biggest drugmakers in have scooped up two midsized U.S. biotech firms at nothing short of whopping valuations. This international binge bodes well for us biotech investors.
Back in December, I told you the bleak story of Neurocrine Biosciences (NBIX). A week earlier, the company had received a crushing blow from the FDA, dished out in a notorious “approvable letter.” Approvable letters are the FDA’s way of turning a “yes/no” decision on a new drug into a “maybe.”