Drugmaker Mylan NV said on Monday it would launch its generic version of Gilead Sciences Inc's COVID-19 treatment remdesivir in India this month at 4,800 rupees ($64.31) per 100 mg vial, as infections surge in the world's third worst-hit country. The Drug Controller General of India (DCGI) approved Mylan's remdesivir version, to be called Desrem, for the treatment of suspected or laboratory confirmed severe incidences of COVID-19 in adults and children, the company said in a statement https://prn.to/2By83B9. Mylan's version comes after two Indian drugmakers, Cipla Ltd and privately-held Hetero Labs Ltd, launched their generic versions of the drug.
The FDA has touted the tests as an important tool for combating the pandemic because they can be produced quickly, at relatively low costs, and test patients in a variety of settings. The regulator approved in May the first COVID-19 antibody test, which is made by Quidel Corp <QDEL.O>. Becton Dickinson's test can be used on its existing BD Veritor System platform, which is employed in about 25,000 healthcare facilities across the United States.
(Bloomberg) -- Commodity investors get vital insights into energy, metals and crop markets this week against a backdrop of better-than-expected economic data and countervailing concern over the jump in coronavirus infections. Global confirmed cases are now rising by well over 1 million per week, casting doubt over expectations raw materials demand will rebound.The International Energy Agency leads the line-up with its monthly overview of the worldwide oil market as OPEC and allies ratchet back supplies. Crop traders will dissect the latest WASDE snapshot, with corn a particular focus. And metals markets are primed for more virus-related disruptions in Chile, which may aid copper, as well as signals of booming iron ore flows, which may hurt prices.A brace of companies report, with numbers from Suedzucker AG, Europe’s top sugar producer, and major cocoa processor Barry Callebaut AG. And last but not least, San Francisco Federal Reserve President Mary Daly and Richmond Fed President Thomas Barkin take part on Tuesday in a discussion on the U.S. economy hosted by the National Association for Business Economics.By the NumbersOil-market watchers will keep a keen eye on the International Energy Agency’s monthly report on the global crude market this week for signals on how consumption is recovering from the virus-induced slump. The market will also examine key compliance data, which the IEA releases every month, indicating to what extent the Organization of Petroleum Exporting Countries and its allies are making the cutbacks they’ve pledged to clear a glut and shore up prices.Last month, OPEC’s output fell to the lowest since 1991, while Russia reached near-total compliance with its quota. Meanwhile, tanker-tracking data compiled by Bloomberg show crude supplies from OPEC’s Middle East exporters, excluding Iran, fell for a second month in June as Saudi Arabia and key Persian Gulf allies made further voluntary production cuts on top of the unprecedented 9.7 million barrels a day agreed by the OPEC+ group of countries in April. OPEC will release its own monthly oil market report on July 14.Red AlertIt’ll be a significant week in the copper market as investors assess fresh anti-virus curbs in Chile’s mining industry, export figures from the South American nation, and the metal’s technical backdrop. Prices may extend gains above $6,000 after state-owned Codelco suspended construction work at its largest copper mine, adding to other curtailments and shift-pattern changes. While the country managed to maintain output at high levels in May, the first clear view into how it fared in June comes on Tuesday, with monthly export data.There’s also important technical action in the charts, too, with copper now backwardated. In addition, driven by the powerful recovery in prices since March, copper’s 50-day moving average is now fast closing in on its 200-day counterpart and may move above it in the coming days. That pattern, a so-called golden cross, can portend further gains in an asset. Still, the last time that chart watchers saw it unfold for copper was right at the start of 2020, just before the metal swooned as the pandemic erupted.The Big QuestionThe U.S. Department of Agriculture just rocked the corn market when it said American farmers planted a lot fewer acres than analysts had expected. Traders will be anxious to see how that impacts the U.S. corn outlook in the World Agricultural Supply and Demand Estimates update on July 10. The big question: will the smaller plantings be enough to make up for declining demand in ethanol production, helping to keep inventories under control?And in Brazil, the second-largest corn exporter after the U.S., the crop is now seen coming in below initial estimates after adverse weather affected some regions. Traders will be looking for the Conab release on Wednesday to make that adjustment in its July report.Hungry for InformationEarnings this week from Suedzucker and Barry Callebaut should give a fresh glimpse of how the sugar and chocolate sectors are holding up, particularly as more shops and restaurants reopen in Europe. Figures from Suedzucker, Europe’s top sugar producer, are due Thursday and traders will watch for clues on whether the region’s prices will gain amid previously expected shortages, despite worries that slowing economies will curb demand.Barry Callebaut could give the cocoa market more clarity on how chocolate demand is faring when the major processor reports results on Thursday, too. Grindings beat expectations in Europe and Asia earlier this year, but analysts said that was more to do with ramping up output ahead of potential supply-chain disruptions, rather than real consumption. The market’s been under pressure lately, with London futures near the lowest in more than a year.Hitting FiftyIron ore is on the slide, dropping into the $90s a ton on indications that surging global supplies are easing tightness in the seaborne market. With vessel-tracking data pointing to a jump in flows from Australia, this week should bring confirmation of another bumper month at Port Hedland, possibly a record. The world’s largest bulk-export terminal is used by miners including BHP Group, Fortescue Metals Group Ltd. and Roy Hill Holdings Pty.The print for June’s performance should come in the opening half of the week -- there’s no fixed date -- and the figure may surpass the peak of 48.9 million tons set a year ago and could top 50 million tons. Last week, Brazil reported exports of 30 million tons for June, well up on the prior month and narrowly ahead of the year-ago number. Between them, the two nations account for the majority of worldwide exports, with cargoes feeding China’s steel industry.For the DiaryClick here for oil marketsClick here for gas marketsClick here for metals marketsClick here for agriculture marketsClick here for the latest DaybreakAnd for the global stage, click hereFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The "World - Composite Paper and Paperboard - Market Analysis, Forecast, Size, Trends and Insights" report has been added to ResearchAndMarkets.com's offering.
Monthly development in June well ahead of plan with 1,729 metres achievedKakula's 2,000-tonne-per-hour ore conveyor system begins operationAll major equipment and the majority of structural steel now on site, or en route, for Kakula's first phase ...
(Bloomberg) -- Warren Buffett finally found his next crisis-era deal.His Berkshire Hathaway Inc., which has stayed relatively quiet during the tumult of the coronavirus pandemic, broke its silence at the end of a holiday weekend with its biggest acquisition in more than four years. The agreement for Dominion Energy Inc.’s natural gas pipeline and storage assets signaled to the market that Buffett is willing to pounce despite his cautious tone in May about the pandemic, according to David Kass, a professor of finance at the University of Maryland’s Robert H. Smith School of Business.“He’s willing to make investments now, of a fairly sizable amount,” Kass said. “It’s very positive that he’s sending a signal for the right deal at the right price, $10 billion or more, ‘We’re ready to go, we’re ready to invest.’”Buffett, who has crafted Berkshire into a conglomerate valued at $434 billion, built his reputation as an investor able to swoop in during volatile markets to strike unique and complicated deals in past crises. After being stymied on the acquisition front during the recent bull market for stocks, Buffett still wasn’t striking any deals during the initial stages of the pandemic and even dumped his stakes in the major U.S. airlines.His inability to make a major acquisition recently has drawn scrutiny from his critics, who argued that Buffett lost his ability to pull off the game-changing transactions that helped vault Berkshire into the ranks of the most valuable U.S. public companies. Now, the deal to buy substantially all of Dominion Energy’s natural gas transmission and storage assets for $4 billion, along with the assumption of $5.7 billion in debt, shows that Buffett is willing to put his money to work, Kass said.“We are very proud to be adding such a great portfolio of natural gas assets to our already strong energy business,” Buffett, who is chief executive officer and chairman of Omaha, Nebraska-based Berkshire Hathaway, said in a statement Sunday.“I’m inspired to see that, given that he’s bearish, he’s still willing to make acquisitions where he thinks it makes sense and where it meets Berkshire’s hurdle points,” said Darren Pollock, a portfolio manager at Cheviot Value Management, which invests in Berkshire shares.Dominion Energy gained 2.3% to $84.61 in early New York trading at 6:46 a.m. Berkshire’s Class A shares, which lost 21% this year through Thursday, haven’t yet posted early trades on Monday.Buffett has considered its energy business one of the “lead dogs” of Berkshire’s non-insurance operations alongside its railroad. Berkshire’s purchase expands its hold in the sector, adding more infrastructure to handle natural gas to its already sprawling energy operations across states such as Nevada and Iowa. Berkshire also struck the deal at a low point in the market. Natural gas futures in the U.S. dropped last month to their lowest point in 25 years and have recovered just slightly since then.“This looks like confirmation that commodities like energy are undervalued,” Bill Smead, chief investment officer at Smead Capital Management, which owns Berkshire shares, said in an emailed comment. “At the bottom, assets move from weak hands to strong hands.”Berkshire is digging deeper into a business that’s been facing increasing scrutiny amid the push for energy companies to shift away from fossil fuels. In its own statement on Sunday, Dominion Energy cited its target to reach net-zero emissions by 2050.The deal also highlights the work of one of Buffett’s key deputies, Greg Abel, who led the energy business for years and is now chairman of Berkshire Hathaway Energy alongside his role as Berkshire’s vice chairman for all non-insurance businesses. Abel has gained a reputation as a key dealmaker for Berkshire with the 2013 purchase of NV Energy and even the battle to buy Oncor Electric Delivery Co., which didn’t ultimately come together. Abel is viewed as a potential successor to Buffett, 89.The Dominion deal is set to be Berkshire’s largest acquisition ranked by enterprise value since its purchase of Precision Castparts Corp. in 2016. Still, Buffett ended the first quarter with a record $137 billion on hand and has been hankering for an “elephant-sized acquisition” to put a chunk of his cash pile to work. The Dominion agreement’s total enterprise value would account for about 7% of that total.“It’s not something that’s going to move the needle from a balance-sheet standpoint, but it’ll produce several hundred million dollars a year in net income to Berkshire,” said Cheviot’s Pollock. “That’s no paltry sum. That adds up over time.”(Updates with share prices in eighth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Emerging-market investors are getting selective even after bonds, stocks and currencies kicked off the second half of the year on a high note.Money managers are questioning whether the developing world’s economic troubles will be short-lived as massive central-bank stimulus bolsters demand for risky assets. Emerging-market dollar bonds posted their longest weekly winning streak since February in the five days through Friday, while stocks and currencies had their best performance in a month.Inflation data in at least 10 developing economies, including Russia and Mexico, will provide clues on how much more room there is for policy makers to reduce interest rates, with many already at record lows. Malaysia’s central bank will likely cut borrowing costs this week, while Peru and Israel will probably remain on hold.“We are mainly focused on tracking mobility data to gather how different the pace of recovery is from country to country as we believe this will influence the level of attractiveness of the individual currencies,” said Anders Faergemann, a London-based portfolio manager at PineBridge, which manages about $96 billion. “We expect some central banks will continue to cut interest rates, but the bulk of rate cuts are behind us.”The majority of developing-nation central banks will maintain “an exceptionally easy monetary policy” for some time, Goldman Sachs Group Inc. analysts, including Andrew Tilton and Kamakshya Trivedi, wrote in a report. While growth will bounce back relatively sharply toward the end of this year and into 2021 as developing economies emerge from lockdowns, the crisis will leave a lasting effect on the level of their gross domestic product, they said.While BNP Paribas Asset Management continues to favor emerging-market credit and is increasingly positive on currencies, it isn’t as optimistic on local rates.“The shape of the recovery could be problematic as markets are increasingly pricing in a V-shaped recovery, with still accommodative policies,” said Jean-Charles Sambor, the London-based head of emerging-market debt at the firm, which oversees the equivalent of about $460 billion. Emerging-market “gains will not be as strong as in the second quarter.”EM Weekly Podcast: China’s Rally; CPI Watch; Argentina DeadlineHere’s what investors will be watching this week:Rate DecisionsBank Negara Malaysia will probably cut its overnight policy rate by 25 basis points on Tuesday, according to economists’ median estimateThe nation’s benchmark 10-year government bond yield traded around 2.8% last week after briefly spiking above 3% in mid-JuneOn Friday, Malaysia is expected to report a smaller decline in industrial production in May compared with April. It will also release manufacturing sales dataRead: Mahathir Risk Looms for Malaysian Bonds After Outlook CutPeruvian policy makers will probably hold interest rates steady on Thursday and reiterate plans to keep them low, according to Bloomberg Economics. The sol was one of the worst-performing currencies in emerging markets last weekAll of the economists surveyed by Bloomberg expect Israel to keep its benchmark rate at 0.1%The Bank of Israel wants a primarily fiscal response to the Covid-19 crisis, and will provide support including expanding a record bond-purchasing commitment if needed to keep borrowing costs low, Governor Amir Yaron said in JuneRead: After Fed Cue, Israel Looks for Answers to Second Virus WaveSri Lanka, Serbia and Mauritius will also decide on interest rates this weekCroatia VotesCroatia’s ruling party scored a surprise victory in Sunday’s general election, defying predictions for a tight race and putting it within touching distance of a majority in parliament. Croatia’s Eurobond due 2029 rose a 15th dayRead more: Croat Ruling Party to Keep Power After Surprise Election TriumphEconomic DataContinued signs of recovery in China may help support risk assets as the largest developing economy is forecast to see continued credit growth in JuneThe nation will announce inflation data for June on Thursday that is forecast to show an uptick in consumer prices for the first time in four months. The pace of declines in factory prices is seen slowing due to a rebound in commodity prices, according to Bloomberg EconomicsChina will also release credit data between Friday and next Wednesday that’s expected to show continued growth amid supportive measures by the People’s Bank of China. PBOC Governor Yi Gang said in June that he expects 20 trillion yuan ($2.8 billion) of new yuan loans this yearBetter-than-expected numbers could help propel Chinese stocks higher, after the CSI 300 Index surged to a five-year high last weekIndia will announce May industrial production on Friday. While economists forecast another substantial slump, signs of a rebound in demand are emerging in June data. A falling jobless rate and improving factory outlook has helped the S&P BSE Sensex Index rally for the third consecutive week in the five days through FridayTaiwan’s end-June foreign exchange reserves rose $4.18 billion from the previous month to $488.7 billion partly because of the monetary authority’s measures to smooth currency fluctuations after large capital inflows caused volatility, Taiwan central bank said MondayThe benchmark Taiex Index erased year-to-date losses Monday after rallying for the past three weeksTaiwan will release trade and inflation data on Tuesday. Exports are seen falling more than the previous month, narrowing the country’s trade balance. The pace in decline in consumer inflation is expected to easeForeign reserves and inflation data for the Philippines are due Tuesday while the country will announce its trade balance on FridayInflation in Russia likely accelerated in June, while remaining well below the central bank’s 4% target“That may reflect one-time markups relating to the reopening of the economy, rather than the start of a trend,” Bloomberg Economics said in a report. “Further ahead, soft demand is likely to weigh on inflation, which creates space for a bit more monetary easing”While Brazilian inflation probably ticked up in June, Bloomberg Economics expects it to remain well below the target when figures are released on WednesdayRetail sales data for May due to be released on the same day will show the impact of the rapidly-spreading coronavirus on consumer behaviorMexico will post June inflation figures on Thursday and May industrial production data on Friday, which will also flag the effects of the virus and measures to contain itMinutes from the central bank’s June meeting, expected on Thursday, will provide context for the decision to cut the interest rate by 50 basis pointsFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Fashion brands and retailers re-opening around the world to patchy demand, and carrying unsold stock from spring have cut fall orders by as much as two-thirds in moves spelling more pain for Asian suppliers.
Here are a list of socially-distanced activities and exercises recommended by the U.S. Department of Health and Human Services.
Shares of Tesla Inc. shot up 6.2% in premarket trading Monday, putting them on track to open at another record high, as even the most bearish Wall Street analyst got a little less bearish, after the electric vehicle maker's better-than-expected deliveries data released last week. The stock has soared 25.9% amid a 4-day win streak through Thursday, which included three-straight record closes. Analyst Ryan Brinkman at J.P. Morgan raised his stock price target to $295, which is 76% below Thursday's closing price of $1,208.66, from $275, as a result of the deliveries data, but his target remains the lowest of the 32 analysts surveyed by FactSet. Brinkman reiterated his underweight rating, citing a "lofty" valuation, and cautioned that any substantially better results could include items of a one-time nature, including credit sales and release of deferred revenue associated with autonomous driving features. Meanwhile, Deutsche Bank analyst Emmanuel Rosner raised his rating to $1,000 from $900, while keeping his rating at hold, citing the "robust" deliveries data. The average rating of the analysts surveyed by FactSet is now $774.98, or 36% below Thursday's closing price. The stock has now nearly tripled year to date (up 189%), while the S&P 500 has slipped 3.1%.
Tara Deakin is a talented Human Resources executive with near 20 years of experience gained at industry leading organizations. Today, Tara is Executive Vice-President and Chief People Officer at Spin Master Ltd., a leading global children's entertainment company.
The Canadian Animal Health Institute (CAHI) is pleased to present to Jean Szkotnicki, its retired President, the Industry Leadership Award in recognition of her many years of service to the Canadian animal health industry. Using a collaborative approach, Jean has earned the trust and respect of government regulators in Canada, the U.S. and Europe. “Jean’s contributions are numerous to the Canadian animal health industry and we are very pleased to present her with this award in recognition of her many years of dedication and leadership,” said Jair Garcia, CAHI Chair, Zoetis.
GREENWICH, Conn., July 06, 2020 -- Bradley Jacobs, chairman and chief executive officer of XPO Logistics, Inc. (NYSE: XPO), will be the keynote speaker for the FreightWaves.
Grand Rapids-based Alliant Healthcare now distributes a rapid, 10-minute antibody at-home test kit available to the public, which tests for both IgM and IgG strands. Grand Rapids, Michigan, July 06, 2020 (GLOBE NEWSWIRE) -- Amidst the international pandemic, Michigan-based medical manufacturer and distributor, Alliant Healthcare Products, has expanded its product offerings to include COVID-19 IgG/IgM Rapid Test Kits. The Premiere Bio-tech Rapid Test Kit meets the highest degree of accuracy, availability, and affordability on the market and sells at $18.50 per test.
RAMSEY, N.J. and BOCA RATON, Fla. and KNOXVILLE, Tenn., July 06, 2020 -- ADMA Biologics, Inc. (Nasdaq: ADMA) (“ADMA”), an end-to-end commercial biopharmaceutical company.
Cubaplay, the network that delivers top Cuban and Latin American entertainment through a wide variety of movies, telenovelas, shows, music videos and documentaries, announced the network premiere of two stories: the Mexican romantic comedy Kada Kien su Karma and the Colombian social drama Los Colores De La Montaña (The color of the mountains). The Karma begins when she finally recovers from the marriage separation shock and her ex-husband suffers an accident.
BOCA RATON, Fla., July 06, 2020 -- Greenlane Holdings, Inc. (“Greenlane” or “the Company”) (Nasdaq: GNLN), announced today that its subsidiary, Pollen Gear™ (“Pollen Gear”),.
Menthol cigarettes represent US $80 billion out of the US $814 billion global tobacco market, and a 36% share of the U.S. tobacco market alone. With menthol cigarette bans passed in jurisdictions to include Brazil, Canada, and the European Union, the Company has identified unmet demand that could continue to persist as more jurisdictions follow suit. Taat Beyond Tobacco™ cigarettes are to be offered in a menthol variety, which can appeal to menthol cigarette smokers.
The Canadian Animal Health Institute (CAHI) is pleased to announce that Toni Bothwell, Director, Regulatory Affairs & Pharmacovigilance at Zoetis Canada is the 2020 recipient of its internal “Recognizing Its Leaders Award”. Toni is a long-standing industry expert and a dedicated leader within the CAHI membership. As the Chair of the CAHI’s Drug Committee and an industry representative on Health Canada’s Canadian Animal Health Products Regulatory Advisory Committee, Toni demonstrates enthusiasm and leadership in various regulatory discussions with government officials and industry stakeholders.
Spectral Medical Inc. (“Spectral” or the “Company”) (EDT.TO), a late stage theranostic company advancing therapeutic options for sepsis and septic shock, announced today that it filed a final short form base shelf prospectus (the “Base Shelf Prospectus”) with the securities regulatory authorities in each of the provinces of Canada, except Québec, (the “Securities Regulators”) on July 3, 2020 (the "Effective Date"). The Base Shelf Prospectus allows Spectral to qualify the distribution by way of a prospectus of up to $50 million of common shares, debt securities, subscription receipts, warrants and units, or any combination thereof, from time to time, during the 25-month period from the Effective Date. The specific terms of any offering under the Base Shelf Prospectus will be established in a prospectus supplement, which will be filed with the applicable Securities Regulators in connection with any such offering.
The Valens Company to Hold Conference Call to Discuss Financial Results for the Second Quarter of 2020
EDMONTON, AB , July 6, 2020 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (ACB) (ACB), the Canadian company defining the future of cannabinoids worldwide, today announced that Miguel Martin , President of Aurora USA and head of Reliva, LLC ("Reliva"), has been appointed Chief Commercial Officer of Aurora, effective immediately. Mr. Martin will replace Darren Karasiuk who has held this position at Aurora since February 2019 .
Akero Therapeutics, Inc. (Nasdaq: AKRO), a cardio-metabolic non-alcoholic steatohepatitis (NASH) company developing pioneering medicines designed to restore metabolic balance and improve the overall health of NASH patients, announced today that it has commenced an underwritten public offering of 4,750,000 shares of its common stock. All of the shares in the offering will be sold by Akero. In addition, Akero expects to grant the underwriters a 30-day option to purchase an additional 712,500 shares of its common stock in the offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.