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Roche’s Alzheimer drug fails, Newman’s Own Foundation CEO retires, Dolly Parton receives $100M award

Yahoo Finance Video

Yahoo Finance's Julie Hyman breaks down leading business stories including news that Roche's potential Alzheimer's drug has failed, the Newman's Own Foundation CEO plans to retire amid a lawsuit, and Dolly Parton has received a $100 million award from Jeff Bezos to further her philanthropy.

Video transcript

JULIE HYMAN: Let's get down to business now and look at some of our top stories in business and beyond. Pharmaceutical giant Roche seeing its shares moving after it reported the failure of a promising possible treatment for Alzheimer's. The drug failed a pair of studies conducted by Roche. That drug showed-- the study showed its use did not slow the decline of patients suffering from the disease. Top rivals Biogen and Eli Lilly, which have competing treatments that are still being researched, also saw some moves on the news, particularly Biogen getting a bump as Roche declines.

Newman's Own seeks a new leader. The charitable organization's CEO, Miriam Nelson, will retire by the end of the year. That's according to the "Wall Street Journal." This leaves open the top post at the foundation that controls the food maker Newman's Own. It specializes in dressings and pasta sauces, among other processed foods.

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The foundation currently grappling with a lawsuit filed by two daughters of the late actor Paul Newman. He's the one who founded the company. They allege the namesake charity has limited the sister's involvement and is straying from its philanthropic goals.

And staying with philanthropy, singer and songwriter Dolly Parton receiving a $100 million award from former Amazon CEO Jeff Bezos for Dolly's philanthropic efforts, including a scholarship program for high-school students and work on HIV/AIDS awareness, animal rights, and bald eagle conservation efforts.

Bezos also recently told CNN he would give away the bulk of his $124 billion net worth during his lifetime. He says his money will go to efforts to combat climate change and people who can unify humanity. Dolly Parton is probably one of those people. Gone into detail-- he hasn't gone into details about how he would give away his fortune yet. Meanwhile, Parton says in a tweet, she tries to put my money where my heart is and pledges it will go to good things.