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.

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.”

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.”