Year: 2020

AbbVie’s (ABBV) Allergan has told Molecular Partners that it will withdraw application filings with both the European Medicines Agency (EMA) and the Japanese Regulatory Agency (PMDA) for Abicipar pegol, a novel DARPin therapeutic for patients with neovascular (wet) age-related macular degeneration (nAMD).Age-related macular degeneration (AMD) occurs when a part of the retina called the macula is damaged, resulting in disturbance to the central visual field. Wet nAMD is less common but much more serious than dry AMD. Wet AMD is when new, abnormal blood vessels grow under the retina, causing scarring of the macula.In June 26, the U.S. Food and …read more […]

(Bloomberg) — Billionaire Jack Ma’s Ant Group is kicking off its much-anticipated initial public offering, with plans to list simultaneously in Hong Kong and on China’s new tech bourse in Shanghai.The parent of China’s largest mobile payment company is marching toward what could be one of the largest listings seen in years. It was valued at $150 billion in its last funding round. Ant will pursue a dual-listing in Hong Kong and the Shanghai stock exchange’s STAR board, the Hangzhou-based company said in an emailed statement. It’s seeking a valuation of at least $200 billion, people familiar with the matter …read more […]

(Bloomberg) — Billionaire Jack Ma’s Ant Group is kicking off its much-anticipated initial public offering, with plans to list simultaneously in Hong Kong and on China’s new tech bourse in Shanghai.The parent of China’s largest mobile payment company is marching toward what could be one of the largest listings seen in years. It was valued at $150 billion in its last funding round. Ant will pursue a dual-listing in Hong Kong and the Shanghai stock exchange’s STAR board, the Hangzhou-based company said in an emailed statement. It’s seeking a valuation of at least $200 billion, people familiar with the matter …read more […]

Protests in Portland, Ore., continued over the weekend, resulting in fires and clashes with police. Tensions have flared since President Trump deployed federal agents to the city. Now local and state officials want the agents to leave. Photo: Leslie Spurlock/Zuma Press …read more […]

(Bloomberg) — Apple Inc. will soon invite a mainland Chinese company into the exclusive club of global iPhone assemblers, marking the biggest change to a decade-old production model just as Washington-Beijing tensions escalate.Luxshare Precision Industry Co. struck a deal to acquire Wistron Corp.’s iPhone unit and become the first mainland company to assemble Apple’s marquee device. It’s another win for a company that went from making cables and antennas to AirPods, sending its shares higher by as much as 7% Monday while Wistron fell up to 10%.The introduction of a homegrown Chinese star helps Apple scores points with Beijing, at …read more […]

Jul.20 — Things could be looking up for EU leaders in search of a deal on the recovery fund. Overnight, talks failed to produce an agreement on how to structure the 750 billion-euro package, but now officials have told Bloomberg the four countries who have been holding back in negotiations are ready to agree on a compromise. Bloomberg’s Maria Tadeo reports on “Bloomberg Markets: European Open.” …read more […]

Jul.20 — Philipp Rickenbacher, chief executive officer at Julius Baer Group Ltd., discusses client activity throughout the pandemic, his business outlook and how the bank was impacted by Covid-19. He speaks on “Bloomberg Markets: European Open.” …read more […]

Jul.20 — Frans van Houten, chief executive officer at Koninklijke Philips NV, discusses his outlook for business in the covid-19 era, earnings in the second half and ventilator production. He speaks on “Bloomberg Daybreak: Europe.” …read more […]

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(Bloomberg) — Deep in the electric-vehicle industry’s supply chain is a little-known Japanese manufacturer that makes a seemingly mundane, but essential, device: coil-winding machines.If the motor is the heart of an EV, then coils in turn are the heart of the electric motor. Odawara Engineering Co., founded 70 years ago as a supplier for appliance makers, is an expert in the making the dense loops of wire that go into those motors. Tesla Inc., manufacturer of the Model S and Model 3 sedans and most recently the world’s most-valuable automaker, is one of its biggest customers.Although the coronavirus pandemic has …read more […]

Pfizer Inc (PFE) and BioNTech SE (BNTX) have announced an agreement with the UK to supply 30 million doses of their BNT162 mRNA-based coronavirus vaccine candidate, currently in development. The agreement is subject to clinical success and regulatory approval for the vaccine.Financial details of the agreement were not disclosed, but the terms were based on the timing of delivery and the volume of doses.“We’re harnessing our scientific expertise, and we’re marshaling our manufacturing resources to ensure that the vaccine would be available as soon as possible,” said Albert Bourla, CEO of Pfizer. “This agreement is a testament to our shared …read more […]

Britain has signed deals to secure 90 million doses of two possible COVID-19 vaccines from the Pfizer Inc and BioNTech alliance and French group Valneva, the business ministry said on Monday. Britain had secured 30 million doses of the experimental BioNTech/Pfizer vaccine, and a deal in principle for 60 million doses of the Valneva vaccine, with an option of 40 million more doses if it was proven to be safe, effective and suitable, the ministry said. …read more […]

(Bloomberg) — Bullish factors building in the bullion market are set to see prices take out the record set in 2011, according to Citigroup Inc.Prices are benefiting from loose monetary policy, low real yields, record inflows into exchange-traded funds and increased asset allocation, analysts including Ed Morse wrote in the bank’s third-quarter commodities outlook. Gold is expected climb to an all-time high in the next six-to-nine months, and there’s a 30% probability it’ll top $2,000 an ounce in the next three-to-five months.“Nominal gold prices have already posted fresh records in every other G-10 and major emerging market currency this year,” …read more […]

Jul.20 — The global demand for electric cars, particularly those from Tesla, is boosting a South Korean battery maker that is now the world’s number 1. LG Chem has surged more than 60% this year to a valuation of about $30 billion and is now the sixth largest stock on the Kospi index. Bloomberg’s Heejin Kim reports on “Bloomberg Markets: Asia.” …read more […]

Jul.20 — Japan will start paying its companies to move factories out of China as the Abe government looks to secure supply chains and reduce dependence on manufacturing in the mainland. Bloomberg’s James Mayger reports on “Bloomberg Markets: Asia.” …read more […]