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Bristol Myers Squibb receives European Commission approval for Opdivo (nivolumab) as second-line treatment for unresectable advanced, recurrent or metastatic esophageal squamous cell carcinoma

First immunotherapy to be approved for a gastroesophageal cancer in the European Union

Approval based on Phase 3 ATTRACTION-3 trial showing statistically significant and clinically meaningful improvement in overall survival compared to chemotherapy

PRINCETON, N.J.–(BUSINESS WIRE)–$BMY #BMSBristol Myers Squibb (NYSE: BMY) today announced that the European Commission (EC) has approved Opdivo (nivolumab) for the treatment of adults with unresectable advanced, recurrent or metastatic esophageal squamous cell carcinoma (ESCC) after prior fluoropyrimidine- and platinum-based combination chemotherapy.

The EC’s decision is based on results from the Phase 3 ATTRACTION-3 trial, a study sponsored by Ono Pharmaceutical Co., Ltd. of Japan, which demonstrated a statistically significant and clinically meaningful improvement in overall survival (OS) in patients who received Opdivo versus chemotherapy. The safety profile for Opdivo was favorable compared with chemotherapy and consistent with previously reported studies of Opdivo in other solid tumors.

“Today’s approval marks a critically important milestone for those living with esophageal squamous cell carcinoma, as this is the first time an immunotherapy treatment option has been approved in the European Union for this patient population,” said Ian M. Waxman, M.D., development lead, gastrointestinal cancers, Bristol Myers Squibb. “We are proud of our work in advancing treatment options for people living with upper gastrointestinal cancers, and we look forward to working with European stakeholders to bring Opdivo to more eligible patients who may benefit.”

In addition to this approval in the EU, Opdivo has been approved in five countries, including the United States and Japan, for the second-line treatment of patients with unresectable advanced, recurrent or metastatic ESCC. Bristol Myers Squibb thanks the patients and investigators involved in the ATTRACTION-3 clinical trial for their important contributions.

ATTRACTION-3 Efficacy and Safety Results

In the Phase 3 ATTRACTION-3 trial, which had a primary endpoint of OS:

  • Opdivo reduced risk of death by 23%, compared to chemotherapy alone [Hazard Ratio (HR) 0.77; 95% Confidence Interval (CI): 0.62 to 0.96; p=0.019].
  • Median OS with Opdivo was 10.9 months (95% CI: 9.2 to 13.3) compared to 8.4 months (95% CI: 7.2 to 9.9) with chemotherapy alone, demonstrating a 2.5-month improvement.
  • The Opdivo arm showed 12- and 18-month OS rates of 47% (95% CI: 40 to 54) and 31% (95% CI: 24 to 37), respectively, versus 34% (95% CI: 28 to 41) and 21% (95% CI: 15 to 27) among patients in the chemotherapy arm. Survival benefit with Opdivo was observed regardless of tumor PD-L1 expression levels.
  • Objective response rates (ORR) between the Opdivo and chemotherapy arms were comparable at 19% (95% CI: 14 to 26) and 22% (95% CI: 15 to 29), respectively.
  • Median duration of response (DoR) for patients was substantially increased in the Opdivo arm at 6.9 months (95% CI: 5.4 to 11.1) versus 3.9 months (95% CI: 2.8 to 4.2) in the chemotherapy arm.
  • An exploratory analysis of patient-reported outcomes showed significant overall improvement in quality of life with Opdivo versus chemotherapy. Fewer treatment-related adverse events (TRAEs) were reported with Opdivo versus chemotherapy, with a rate of 66% for any grade TRAEs in patients receiving Opdivo compared to 95% for those patients receiving chemotherapy. Patients in the Opdivo arm also experienced a lower incidence of Grade 3 or 4 TRAEs compared to those in the chemotherapy arm (18% versus 63%), and the percentage of patients experiencing TRAEs leading to discontinuation was the same in both arms (9%).

About ATTRACTION-3

ATTRACTION-3 (ONO-4538-24/CA209-473; NCT02569242) is a Phase 3, multi-center, randomized, open-label global study, evaluating Opdivo versus chemotherapy (docetaxel or paclitaxel) for patients with esophageal cancer refractory or intolerant to first-line combination therapy with fluoropyrimidine- and platinum-based drugs. Patient enrollment occurred predominantly in Asia, with the remainder in the United States and Europe. Patients were treated until disease progression or unacceptable toxicity. The primary endpoint of the trial was overall survival (OS). Secondary endpoints included investigator-assessed objective response rate (ORR), progression-free survival (PFS), disease control rate, duration of response and safety.

About Esophageal Cancer

Esophageal cancer is the seventh most common cancer and the sixth most common cause of death from cancer worldwide. The five-year relative survival rate is 10% or less for patients diagnosed with metastatic disease. Each year, 53,000 new cases of esophageal cancer are diagnosed in Europe. The two most common types of esophageal cancer are adenocarcinoma and squamous cell carcinoma, the latter accounting for approximately 60% of all esophageal cancer cases diagnosed in Europe. The majority of cases are diagnosed in the advanced setting and impact a patient’s daily life, including their ability to eat and drink.

Bristol Myers Squibb: Creating a Better Future for People with Cancer

Bristol Myers Squibb is inspired by a single vision — transforming people’s lives through science. The goal of the company’s cancer research is to deliver medicines that offer each patient a better, healthier life and to make cure a possibility. Building on a legacy across a broad range of cancers that have changed survival expectations for many, Bristol Myers Squibb researchers are exploring new frontiers in personalized medicine, and through innovative digital platforms, are turning data into insights that sharpen their focus. Deep scientific expertise, cutting-edge capabilities and discovery platforms enable the company to look at cancer from every angle. Cancer can have a relentless grasp on many parts of a patient’s life, and Bristol Myers Squibb is committed to taking actions to address all aspects of care, from diagnosis to survivorship. Because as a leader in cancer care, Bristol Myers Squibb is working to empower all people with cancer to have a better future.

About Opdivo®

Opdivo is a programmed death-1 (PD-1) immune checkpoint inhibitor that is designed to uniquely harness the body’s own immune system to help restore anti-tumor immune response. By harnessing the body’s own immune system to fight cancer, Opdivo has become an important treatment option across multiple cancers.

Opdivo’s leading global development program is based on Bristol Myers Squibb’s scientific expertise in the field of Immuno-Oncology and includes a broad range of clinical trials across all phases, including Phase 3, in a variety of tumor types. To date, the Opdivo clinical development program has treated more than 35,000 patients. The Opdivo trials have contributed to gaining a deeper understanding of the potential role of biomarkers in patient care, particularly regarding how patients may benefit from Opdivo across the continuum of PD-L1 expression.

In July 2014, Opdivo was the first PD-1 immune checkpoint inhibitor to receive regulatory approval anywhere in the world. Opdivo is currently approved in more than 65 countries, including the United States, the European Union, Japan and China. In October 2015, the Company’s Opdivo and Yervoy combination regimen was the first Immuno-Oncology combination to receive regulatory approval for the treatment of metastatic melanoma and is currently approved in more than 50 countries, including the United States and the European Union.

INDICATIONS

OPDIVO® (nivolumab), as a single agent, is indicated for the treatment of patients with unresectable or metastatic melanoma.

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the treatment of patients with unresectable or metastatic melanoma.

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the first-line treatment of adult patients with metastatic non-small cell lung cancer (NSCLC) whose tumors express PD-L1 (≥1%) as determined by an FDA-approved test, with no EGFR or ALK genomic tumor aberrations.

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab) and 2 cycles of platinum-doublet chemotherapy, is indicated for the first-line treatment of adult patients with metastatic or recurrent non-small cell lung cancer (NSCLC), with no EGFR or ALK genomic tumor aberrations.

OPDIVO® (nivolumab) is indicated for the treatment of patients with metastatic non-small cell lung cancer (NSCLC) with progression on or after platinum-based chemotherapy. Patients with EGFR or ALK genomic tumor aberrations should have disease progression on FDA-approved therapy for these aberrations prior to receiving OPDIVO.

OPDIVO® (nivolumab) is indicated for the treatment of patients with metastatic small cell lung cancer (SCLC) with progression after platinum-based chemotherapy and at least one other line of therapy. This indication is approved under accelerated approval based on overall response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the first-line treatment of adult patients with unresectable malignant pleural mesothelioma (MPM).

OPDIVO® (nivolumab) is indicated for the treatment of patients with advanced renal cell carcinoma (RCC) who have received prior anti-angiogenic therapy.

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the treatment of patients with intermediate or poor risk, previously untreated advanced renal cell carcinoma (RCC).

OPDIVO® (nivolumab) is indicated for the treatment of adult patients with classical Hodgkin lymphoma (cHL) that has relapsed or progressed after autologous hematopoietic stem cell transplantation (HSCT) and brentuximab vedotin or after 3 or more lines of systemic therapy that includes autologous HSCT. This indication is approved under accelerated approval based on overall response rate. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.

OPDIVO® (nivolumab) is indicated for the treatment of patients with recurrent or metastatic squamous cell carcinoma of the head and neck (SCCHN) with disease progression on or after platinum-based therapy.

OPDIVO® (nivolumab) is indicated for the treatment of patients with locally advanced or metastatic urothelial carcinoma who have disease progression during or following platinum-containing chemotherapy or have disease progression within 12 months of neoadjuvant or adjuvant treatment with platinum-containing chemotherapy. This indication is approved under accelerated approval based on tumor response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.

OPDIVO® (nivolumab), as a single agent, is indicated for the treatment of adult and pediatric (12 years and older) patients with microsatellite instability-high (MSI-H) or mismatch repair deficient (dMMR) metastatic colorectal cancer (CRC) that has progressed following treatment with a fluoropyrimidine, oxaliplatin, and irinotecan. This indication is approved under accelerated approval based on overall response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the treatment of adults and pediatric patients 12 years and older with microsatellite instability-high (MSI-H) or mismatch repair deficient (dMMR) metastatic colorectal cancer (CRC) that has progressed following treatment with a fluoropyrimidine, oxaliplatin, and irinotecan. This indication is approved under accelerated approval based on overall response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.

OPDIVO® (nivolumab) is indicated for the treatment of patients with hepatocellular carcinoma (HCC) who have been previously treated with sorafenib. This indication is approved under accelerated approval based on overall response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials.

OPDIVO® (nivolumab), in combination with YERVOY® (ipilimumab), is indicated for the treatment of patients with hepatocellular carcinoma (HCC) who have been previously treated with sorafenib. This indication is approved under accelerated approval based on overall response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials.

OPDIVO® (nivolumab) is indicated for the adjuvant treatment of patients with melanoma with involvement of lymph nodes or metastatic disease who have undergone complete resection.

OPDIVO® (nivolumab) is indicated for the treatment of patients with unresectable advanced, recurrent or metastatic esophageal squamous cell carcinoma (ESCC) after prior fluoropyrimidine- and platinum-based chemotherapy.

IMPORTANT SAFETY INFORMATION

Severe and Fatal Immune-Mediated Adverse Reactions

Immune-mediated adverse reactions listed herein may not include all possible severe and fatal immune-mediated adverse reactions.

Immune-mediated adverse reactions, which may be severe or fatal, can occur in any organ system or tissue. While immune-mediated adverse reactions usually manifest during treatment, they can also occur after discontinuation of OPDIVO or YERVOY. Early identification and management are essential to ensure safe use of OPDIVO and YERVOY. Monitor for signs and symptoms that may be clinical manifestations of underlying immune-mediated adverse reactions. Evaluate clinical chemistries including liver enzymes, creatinine, adrenocorticotropic hormone (ACTH) level, and thyroid function at baseline and periodically during treatment with OPDIVO and before each dose of YERVOY. In cases of suspected immune-mediated adverse reactions, initiate appropriate workup to exclude alternative etiologies, including infection. Institute medical management promptly, including specialty consultation as appropriate.

Withhold or permanently discontinue OPDIVO and YERVOY depending on severity (please see section 2 Dosage and Administration in the accompanying Full Prescribing Information). In general, if OPDIVO or YERVOY interruption or discontinuation is required, administer systemic corticosteroid therapy (1 to 2 mg/kg/day prednisone or equivalent) until improvement to Grade 1 or less. Upon improvement to Grade 1 or less, initiate corticosteroid taper and continue to taper over at least 1 month. Consider administration of other systemic immunosuppressants in patients whose immune-mediated adverse reactions are not controlled with corticosteroid therapy. Toxicity management guidelines for adverse reactions that do not necessarily require systemic steroids (e.g., endocrinopathies and dermatologic reactions) are discussed below.

Immune-Mediated Pneumonitis

OPDIVO and YERVOY can cause immune-mediated pneumonitis. The incidence of pneumonitis is higher in patients who have received prior thoracic radiation. In patients receiving OPDIVO monotherapy, immune-mediated pneumonitis occurred in 3.1% (61/1994) of patients, including Grade 4 (<0.1%), Grade 3 (0.9%), and Grade 2 (2.1%). In HCC patients receiving OPDIVO 1 mg/kg with YERVOY 3 mg/kg every 3 weeks, immune-mediated pneumonitis occurred in 10% (5/49) of patients. In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, immune-mediated pneumonitis occurred in 3.9% (26/666) of patients, including Grade 3 (1.4%) and Grade 2 (2.6%). In NSCLC patients receiving OPDIVO 3 mg/kg every 2 weeks with YERVOY 1 mg/kg every 6 weeks, immune-mediated pneumonitis occurred in 9% (50/576) of patients, including Grade 4 (0.5%), Grade 3 (3.5%), and Grade 2 (4.0%). Four patients (0.7%) died due to pneumonitis.

Immune-Mediated Colitis

OPDIVO and YERVOY can cause immune-mediated colitis, which may be fatal. A common symptom included in the definition of colitis was diarrhea. Cytomegalovirus (CMV) infection/reactivation has been reported in patients with corticosteroid-refractory immune-mediated colitis. In cases of corticosteroid-refractory colitis, consider repeating infectious workup to exclude alternative etiologies. In patients receiving OPDIVO monotherapy, immune-mediated colitis occurred in 2.9% (58/1994) of patients, including Grade 3 (1.7%) and Grade 2 (1%). In patients receiving OPDIVO 1 mg/kg with YERVOY 3 mg/kg every 3 weeks, immune-mediated colitis occurred in 25% (115/456) of patients, including Grade 4 (0.4%), Grade 3 (14%) and Grade 2 (8%). In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, immune-mediated colitis occurred in 9% (60/666) of patients, including Grade 3 (4.4%) and Grade 2 (3.7%).

In a separate Phase 3 trial of YERVOY 3 mg/kg monotherapy, immune-mediated colitis occurred in 12% (62/511) of patients, including Grade 3-5 (7%) and Grade 2 (5%).

Immune-Mediated Hepatitis

OPDIVO and YERVOY can cause immune-mediated hepatitis. In patients receiving OPDIVO monotherapy, immune-mediated hepatitis occurred in 1.8% (35/1994) of patients, including Grade 4 (0.2%), Grade 3 (1.3%), and Grade 2 (0.4%). In patients receiving OPDIVO 1 mg/ kg with YERVOY 3 mg/kg every 3 weeks, immune-mediated hepatitis occurred in 15% (70/456) of patients, including Grade 4 (2.4%), Grade 3 (11%), and Grade 2 (1.8%). In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, immune-mediated hepatitis occurred in 7% (48/666) of patients, including Grade 4 (1.2%), Grade 3 (4.9%), and Grade 2 (0.4%).

In a separate Phase 3 trial of YERVOY 3 mg/kg monotherapy, immune-mediated hepatitis occurred in 4.1% (21/511) of patients, including Grade 3-5 (1.6%) and Grade 2 (2.5%).

Immune-Mediated Endocrinopathies

OPDIVO and YERVOY can cause primary or secondary adrenal insufficiency, immune-mediated hypophysitis, immune-mediated thyroid disorders, and Type 1 diabetes mellitus, which can present with diabetic ketoacidosis. Withhold OPDIVO and YERVOY depending on severity (please see section 2 Dosage and Administration in the accompanying Full Prescribing Information). For Grade 2 or higher adrenal insufficiency, initiate symptomatic treatment, including hormone replacement as clinically indicated. Hypophysitis can present with acute symptoms associated with mass effect such as headache, photophobia, or visual field defects. Hypophysitis can cause hypopituitarism; initiate hormone replacement as clinically indicated. Thyroiditis can present with or without endocrinopathy. Hypothyroidism can follow hyperthyroidism; initiate hormone replacement or medical management as clinically indicated. Monitor patients for hyperglycemia or other signs and symptoms of diabetes; initiate treatment with insulin as clinically indicated.

In patients receiving OPDIVO monotherapy, adrenal insufficiency occurred in 1% (20/1994), including Grade 3 (0.4%) and Grade 2 (0.6%). In patients receiving OPDIVO 1 mg/kg with YERVOY 3 mg/kg every 3 weeks, adrenal insufficiency occurred in 8% (35/456), including Grade 4 (0.2%), Grade 3 (2.4%), and Grade 2 (4.2%). In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, adrenal insufficiency occurred in 7% (48/666) of patients, including Grade 4 (0.3%), Grade 3 (2.5%), and Grade 2 (4.1%).

In patients receiving OPDIVO monotherapy, hypophysitis occurred in 0.6% (12/1994) of patients, including Grade 3 (0.2%) and Grade 2 (0.3%). In patients receiving OPDIVO 1 mg/kg with YERVOY 3 mg/kg every 3 weeks, hypophysitis occurred in 9% (42/456), including Grade 3 (2.4%) and Grade 2 (6%). In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, hypophysitis occurred in 4.4% (29/666) of patients, including Grade 4 (0.3%), Grade 3 (2.4%), and Grade 2 (0.9%).

In patients receiving OPDIVO monotherapy, thyroiditis occurred in 0.6% (12/1994) of patients, including Grade 2 (0.2%). In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, thyroiditis occurred in 2.7% (22/666) of patients, including Grade 3 (4.5%) and Grade 2 (2.2%).

In patients receiving OPDIVO monotherapy, hyperthyroidism occurred in 2.7% (54/1994) of patients, including Grade 3 (<0.1%) and Grade 2 (1.2%). In patients receiving OPDIVO 1 mg/kg with YERVOY 3 mg/kg every 3 weeks, hyperthyroidism occurred in 9% (42/456) of patients, including Grade 3, (0.9%) and Grade 2 (4.2%). In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, hyperthyroidism occurred in 12% (80/666) of patients, including Grade 3 (0.6%), and Grade 2 (4.5%).

In patients receiving OPDIVO monotherapy, hypothyroidism occurred in 8% (163/1994) of patients, including Grade 3 (0.2%) and Grade 2 (4.8%). In patients receiving OPDIVO 1 mg/kg with YERVOY 3 mg/kg every 3 weeks, hypothyroidism occurred in 20% (91/456) of patients, including Grade 3 (0.4%) and Grade 2 (11%). In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, hypothyroidism occurred in 18% (122/666) of patients, including Grade 3 (0.6%) and Grade 2 (11%).

In patients receiving OPDIVO monotherapy, diabetes occurred in 0.9% (17/1994) of patients, including Grade 3 (0.4%) and Grade 2 (0.3%), and 2 cases of diabetic ketoacidosis. In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, diabetes occurred in 2.7% (15/666) of patients, including Grade 4 (0.6%), Grade 3 (0.3%), and Grade 2 (0.9%).

In a separate Phase 3 trial of YERVOY 3 mg/kg monotherapy, Grade 2-5 immune-mediated endocrinopathies occurred in 4% (21/511) of patients. Severe to life-threatening (Grade 3-4) endocrinopathies occurred in 9 (1.8%) patients. All 9 patients had hypopituitarism, and some had additional concomitant endocrinopathies such as adrenal insufficiency, hypogonadism, and hypothyroidism. Six of the 9 patients were hospitalized for severe endocrinopathies. Moderate (Grade 2) endocrinopathy occurred in 12 patients (2.3%), including hypothyroidism, adrenal insufficiency, hypopituitarism, hyperthyroidism and Cushing’s syndrome.

Immune-Mediated Nephritis with Renal Dysfunction

OPDIVO and YERVOY can cause immune-mediated nephritis. In patients receiving OPDIVO monotherapy, immune-mediated nephritis and renal dysfunction occurred in 1.2% (23/1994) of patients, including Grade 4 (<0.1%), Grade 3 (0.5%), and Grade 2 (0.6%). In patients receiving OPDIVO 3 mg/kg with YERVOY 1 mg/kg every 3 weeks, immune-mediated nephritis with renal dysfunction occurred in 4.1% (27/666) of patients, including Grade 4 (0.6%), Grade 3 (1.1%), and Grade 2 (2.2%).

Immune-Mediated Dermatologic Adverse Reactions

OPDIVO can cause immune-mediated rash or dermatitis. Exfoliative dermatitis, including Stevens-Johnson syndrome (SJS), toxic epidermal necrolysis (TEN), and drug rash with eosinophilia and systemic symptoms (DRESS) has occurred with PD-1/PD-L1 blocking antibodies.

Contacts

Bristol Myers Squibb

Media Inquiries:

Media@BMS.com

Investors:

Tim Power

609-252-7509

timothy.power@bms.com

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AstraZeneca’s vaccine announcement bolsters markets: Live business updates

Credit…Amr Alfiky/The New York Times

Black Friday has lengthy been the largest buying day of the 12 months, with doorbuster offers inspiring some die-hard buyers to camp out all evening in entrance of big-box shops.

But as coronavirus instances climb throughout the nation and public well being officers beg folks to keep away from crowds, will shops nonetheless attempt to lure clients inside? And in the event that they do, will clients take the bait and present up?

“This year is going to be a Black Friday unlike any other,” mentioned Kelly O’Keefe, managing associate on the Brand Federation, a consulting agency. “We’re not going to have crowds knocking down Walmart’s door this year. There will be fewer people in stores and there will be much better management of those people.”

Here’s what a number of the largest retailers are doing to maintain clients protected on Black Friday this 12 months:

Best Buy mentioned it was promoting this 12 months’s new gaming consoles on-line solely, to keep away from strains exterior shops.

The electronics chain mentioned it might restrict the variety of clients inside shops to adjust to social-distancing tips as really helpful by the Centers for Disease Control and Prevention. Best Buy additionally mentioned it might take into account limiting retailer hours, lowering occupancy and shifting to curbside-only pickup service “on a case-by-case basis to help local communities contain outbreaks.”

All pickup orders will now occur curbside, and pickup shall be out there earlier than and after in-store hours.

The shops would require clients and workers to put on face coverings and can provide face coverings to clients who do not need one. Best Buy will present sanitizer wipes close to high-touch shows to present the shoppers the choice of wiping down surfaces earlier than participating with them.

Walmart placed on three separate gross sales in November, each on-line and in retailer.

It is providing clients the choice to select up their on-line Black Friday orders via Walmart’s contactless curbside pickup service.

On Black Friday itself, Walmart shops will open at 5 a.m., and clients shall be requested to type a single, straight line to enter the shops. Employees will hand out sanitized buying carts and can remind clients to put on a masks when getting into the shop. Walmart will restrict the variety of clients within the retailer to twenty % capability and can direct clients to buy down the right-hand facet of aisles.

Target has unfold its sale choices all through all of November, providing promotions of various product classes every week.

To decrease strains, Target has added cell checkout units to permit retailer workers to assist buyers try anyplace within the retailer. The firm additionally permits friends to take a look at by themselves utilizing Target’s cell app.

Additionally, the corporate has added 1000’s of things eligible for same-day pickup.

Target says it’ll monitor the variety of buyers to make sure folks have sufficient area to buy safely and can permit clients to order a spot in line exterior their native retailer.

The dwelling enchancment retailer has made Black Friday costs out there all through the vacation season, from Nov. 6 via December, each in retailer and on-line, in an effort to scale back crowds. Home Depot mentioned it had decreased the variety of objects displayed in sure areas in shops to create extra space for social distancing.

A volunteer getting a shot in a vaccine trial developed at the University of Oxford in conjunction with AstraZeneca.
Credit…Pool photograph by Siphiwe Sibeko
  • U.S. stock futures and stock indexes in Europe rose on Monday after a 3rd drugmaker, AstraZeneca, introduced a significant growth in its Covid-19 vaccine and a authorities official on Sunday described how vaccines is perhaps distributed to Americans as early as subsequent month.

  • The Stoxx Europe 600 rose 0.5 %, extending good points from the previous three weeks. The CAC index in France was up 0.8 %, and the DAX index in Germany rose 1 %. In Asia, the Nikkei 225 in Japan fell 0.4 %, the Hang Seng Index in Hong Kong rose 0.1 %, and the Shanghai Composite index climbed 1.1 %.

  • S&P 500 futures rose about half a %, suggesting markets will open on a constructive notice when buying and selling begins.

  • AstraZeneca mentioned that early evaluation of a few of its late-stage scientific trials confirmed the vaccine, developed with the University of Oxford, was on common 70 % efficient. The trials used two completely different dosing regimens, certainly one of which was 90 % efficient in stopping Covid-19 and the opposite of which was 62 % efficient. Shares in AstraZeneca have been 1.7 % decrease. The trial outcomes counsel the vaccine hasn’t matched the effectiveness of Pfizer and Moderna. But AstraZeneca’s vaccine has benefits of being less expensive and simpler to retailer and transport.

  • Though there have been constructive developments about vaccines, it will likely be many months earlier than giant swathes of the inhabitants obtain them. In the meantime, virus instances are nonetheless rising quickly and the financial influence is being felt.

  • Advisers to President-elect Joseph R. Biden Jr. are pushing for Democrats in Congress to achieve a fast stimulus take care of Senate Republicans amid concern of a double-dip recession. The S&P 500 index fell final week as buyers thought of the Treasury Department’s plan to finish emergency lending applications on the finish of the 12 months, whereas different federal help applications created below the CARES Act are set to run out at 12 months’s finish.

  • European shares have been led greater by vitality firms. Commodities costs rose, with Brent crude up 1.6 % to $45.66 a barrel. West Texas Intermediate futures, the United States benchmark, rose 1.4 % to $43 a barrel, the best since late August.

  • Shares in Cineworld, proprietor of Regal cinemas, jumped as a lot as 27 % as the corporate reassured buyers it might have sufficient money to reopen, even when that doesn’t occur till May. The firm’s chief government mentioned in an announcement that the agency had secured $750 million in additional liquidity, $450 million within the type of a brand new three-year debt facility.

Adidas paid roughly $4 billion for Reebok in 2005.
Credit…Axel Schmidt/Reuters

Adidas tapped JPMorgan Chase to assist it weigh a sale of Reebok that would happen as quickly as early subsequent 12 months, sources informed the DealBook publication.

Rumors have been swirling that the corporate could promote the model, which has struggled to maintain tempo with rivals like Nike. The Financial Times has reported that Permira and Triton are amongst Reebok’s suitors. Adidas didn’t reply to a request for remark. JPMorgan declined to remark.

Reebok may fetch round $1 billion in a deal, mentioned the sources, who spoke on situation of anonymity as a result of the data was confidential. Though that valuation is topic to alter, it might be a far cry from the roughly $4 billion that Adidas paid for it in 2005. Reebok’s gross sales have been down 7 % in the latest quarter, excluding foreign money results, in contrast with a 3 % drop for Adidas as an entire.

Buyers could also be cautious of the pitfalls concerned within the 2015 sale of Adidas’s Rockport unit. Three years after Adidas sold the shoe brand to Berkshire Partners, it filed for chapter, blaming its former parent for a sale course of that “took meaningfully longer and was significantly more expensive than planned.”

Broadly talking, the athletic attire business is doing properly. Consumers are embracing each consolation and health throughout the pandemic, bolstering gross sales at firms like Nike and Lululemon. But Reebok’s quirky model has had a tough time recapturing its Eighties heyday, even with the muscle of Adidas behind it. And Reebok’s gear is concentrated largely on indoor sports activities, like CrossFit, which can take longer to get well within the pandemic.

Estée Lauder suspended dividend payments earlier this year, only to reinstate them.
Credit…Lucy Nicholson/Reuters

In the stock market, dividend payouts had gave the impression to be among the many prime casualties of the recession attributable to the pandemic. There have been predictions by Goldman Sachs, amongst others, that dividends would fall by greater than 20 %, reducing payouts to buyers by lots of of tens of millions of {dollars}.

It hasn’t turned out that means, writes The New York Times’s Jeff Sommer.

Dividends are down, sure, however with little greater than a month to go in 2020, the overall decline for dividends within the S&P 500 is prone to be lower than 1 %, in keeping with the estimate of Howard Silverblatt, senior index analyst for S&P Dow Jones Indices.

A drop of that dimension could be inconsequential, given the severity of the stock market downturn earlier within the 12 months and the rate that the financial system shrank, 31.4 percent, within the second quarter of the 12 months.

“Considering where we were, this hasn’t been a bad year for dividends,” Mr. Silverblatt. “It has been a great year.”

A complete of 42 firms within the S&P 500, closely concentrated amongst lodges, airways and retailers, suspended dividend funds from March via July, in keeping with Mr. Silverblatt’s knowledge. But the enterprise outlook for a lot of firms has since rotated, and their dividend actions replicate it:

  • Darden RestaurantsEstée Lauder and Marathon Oil suspended their dividend funds earlier this 12 months, solely to reinstate them lately.

  • Microsoft elevated its dividend by 9.8 % in September, which quantities to a lift of $1.5 billion. Apple in April elevated its dividend by $875 million.

  • AbbVie, the drug firm, raised its dividends by $847 million in October. And Chevron, the oil firm, did so by $756 million in January. It has maintained quarterly dividends since then, regardless of declining oil costs.

As issues stand, Mr. Silverblatt says, it’s cheap to undertaking that company America will prosper and that dividend funds will proceed to get well, maybe even hitting a report subsequent 12 months, exceeding their 2019 peak.

President-elect Joseph R. Biden Jr. is mostly conducting his transition remotely from Wilmington, Del.
Credit…Ruth Fremson/The New York Times

While President Trump continues to be contesting the election outcomes, company America — together with a lot of the remainder of the world — is shifting on. In current days, firms together with Boeing, CVS Health and McDonald’s have mentioned they acknowledged President-elect Joseph R. Biden Jr. and imagine the election was free and honest.

On Friday and Saturday, the refrain of chief executives calling for an orderly transition continued to develop, David Gelles reported.

“The election is over and we expect a smooth transition,” mentioned Ajay Banga, the chief government of Mastercard. “That’s the hallmark of American democracy.”

Many firms have been already providing to work with the Biden administration on efforts to fight the coronavirus pandemic and kick-start the financial system.

“The country needs political stability,” mentioned Michael Dell, the chief government of Dell Technologies. “We are eager to progress forward and work with the new administration and Congress on pandemic response and recovery and other critical priorities including education, infrastructure and the environment.”

Julie Sweet, the chief government of Accenture, congratulated Mr. Biden and Vice President-elect Kamala Harris on Nov. 8, the day after most main information media organizations known as the election. On Friday, Ms. Sweet known as for the Trump administration to cooperate with the transition.

“We have work to do as a country — defeating the pandemic, ending the digital divide, rebuilding the economy and so much more,” she mentioned. “A peaceful, lawful transition must be permitted to move forward.”

Among the businesses successfully calling on the Trump administration to concede defeat have been many main authorities contractors, together with Cisco.

“We had a free and fair election, and it was encouraging to see the record number of Americans who exercised their right to vote,” mentioned Chuck Robbins, the chief government of Cisco. “Now we must move forward with the transition process so we can take the steps needed to recover from the pandemic.”

Carlos Gutierrez, the previous Commerce secretary, who’s now the chairman of EmPath, a personal firm, and was beforehand the chief government of Kellogg, mentioned that past disrupting the handoff to the Biden administration, Mr. Trump’s refusal to concede was eroding America’s standing on this planet.

“The absence of a normal transition, and a president determined to make some kind of a mark in his last 60 days, has created uncertainty and a worldwide sense of confusion,” Mr. Gutierrez mentioned.

Before the pandemic, “Wonder Woman 1984,” starring Gal Gadot, was expected to be a worldwide box office smash.
Credit…Clay Enos/Warner Bros. Entertainment, by way of Associated Press

“Wonder Woman 1984” is coming this Christmas Day. If that isn’t sufficient massive information, this big-budget movie shall be launched in theaters and on the streaming service HBO Max.

Thank, or blame, the coronavirus pandemic.

With many theaters shut due to the virus, and people which might be open struggling, many studios have both pushed the discharge dates of main movies into subsequent 12 months or created a hybrid mannequin during which working theaters can present new releases whereas they’re additionally made out there via streaming or on-demand providers.

“We’re not in Kansas anymore,” mentioned Jason Kilar, chief government of WarnerMedia, in an announcement invoking the Hollywood traditional movie “The Wizard of Oz.”

The new regular, at the very least briefly however possibly longer, means a really completely different film enterprise, Nicole Sperling experiences. In April, Universal Pictures had a profitable video-on-demand launch for “Trolls World Tour.”

AMC, the biggest theater operator on this planet, objected and introduced it might now not e-book any Universal movies. But by July, the 2 firms signed a multiyear deal during which Universal motion pictures would play in AMC theaters for at least 17 days earlier than changing into out there in houses via premium video-on-demand. That shortened window may imply that studios will spend much less on advertising.

 

Source

— New York Times: Top Stories

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Healthcare

Legend Biotech announces new appointment to the Board of Directors and resignation of Dr. Fangliang Zhang

SOMERSET, N.J.–(BUSINESS WIRE)–Legend Biotech Corporation (NASDAQ: LEGN) (“Legend Biotech”), a global clinical-stage biopharmaceutical company engaged in the discovery and development of novel cell therapies for oncology and other indications, announced today that it has appointed Dr. Li Zhu to Legend Biotech’s Board of Directors. Dr. Zhu will serve as a Class III director.

In addition, Dr. Fangliang Zhang tendered his resignation from the Board of Directors of Legend Biotech and its committees, effective as of November 22, 2020. As announced on September 21, 2020, Dr. Zhang had been under residential surveillance in connection with an investigation by the Customs Anti-Smuggling Department of Zhenjiang (the “Authority”) in the People’s Republic of China, and he has now been formally placed under arrest. While no charges have been filed against him, Dr. Zhang decided that to avoid unnecessary distraction to Legend Biotech, his resignation would be in the interests of Legend Biotech and its shareholders. To date, no charges have been filed against Legend Biotech or any of its officers or directors, and Legend Biotech does not believe that it is a subject of the Authority’s investigation.

“The Board of Legend Biotech would like to take this opportunity to express its sincere gratitude and appreciation to Dr. Zhang for his valuable contribution to the company during his tenure of service,” said Sally Wang, Chairwoman of Legend Biotech. “We are excited to welcome Dr. Zhu to our Board of Directors. The addition of Dr. Zhu complements our Board’s skills and experiences, and we are confident he will provide valuable support to Legend Biotech’s strategic development and objective to bring innovative and impactful cell therapies toward potential registration and commercialization.”

Dr. Zhu served as the vice president of strategy of GenScript Biotech Corporation (“GenScript”) from March 2010 to February 2017, served as the chief strategy officer of GenScript from February 2017 to July 2019, and has served as a consultant for GenScript since July 2019. Upon his appointment as executive director of GenScript on November 22, 2020, he resumed his role as the chief strategy officer of GenScript. Before joining GenScript, Dr. Zhu worked at California-based Clontech Laboratories, Inc. as a director of molecular biology from January 1990 to March 2000. Dr. Zhu founded Genetastix Corporation, Inc., a biotech company focused on yeast-based antibody discovery, and served as president and chief executive officer from May 2000 to December 2005. Dr. Zhu then worked at biotech companies in China, serving as vice president of research at Cathay Biotech, Inc. from July 2006 to December 2008, and as vice president of HUYA Biomedical Technology (Shanghai) Co., Limited from January 2009 to December 2009. Dr. Zhu obtained a Bachelor of Science of Biology degree from the East China Normal University in June 1982 and a Doctor of Philosophy in molecular biology and immunology from Stanford University in July 1989.

About Legend Biotech

Legend Biotech is a global clinical-stage biopharmaceutical company engaged in the discovery and development of novel cell therapies for oncology and other indications. Our team of over 800 employees across the United States, China and Europe, along with our differentiated technology, global development, and manufacturing strategies and expertise, provide us with the strong potential to discover, develop, and manufacture cutting edge cell therapies for patients in need.

We are engaged in a strategic collaboration with Janssen Biotech, Inc. to develop and commercialize our lead product candidate, ciltacabtagene autoleucel, an investigational BCMA-targeted CAR-T cell therapy for patients living with multiple myeloma. This candidate is currently being studied in registrational clinical trials.

Cautionary Note Regarding Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to statements relating to the investigation of the Customs Anti-Smuggling Department of the People’s Republic of China, Legend Biotech’s strategic development and objectives, and the potential contributions of its new board member. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the factors discussed in the “Risk Factors” section of the prospectus filed with the Securities and Exchange Commission on June 8, 2020. Any forward-looking statements contained in this press release speak only as of the date hereof, and Legend Biotech specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.

Contacts

For Investor Relations inquiries:
Jessie Yeung, Head of Corporate Finance and Investor Relations, Legend Biotech USA Inc. jessie.yeung@legendbiotech.com or investor@legendbiotech.com
Surabhi Verma, Manager of Investor Relations and Corporate Communications, Legend Biotech USA Inc.

surabhi.verma@legendbiotech.com or media@legendbiotech.com

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For Edit

William Winston: Healing a divided nation – this simple truth can bring unity in troubled times

After over 30 years in ministry, I am clear that my calling is to teach people faith in God and His Kingdom and share biblical truth.

 

— FOX News

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For Edit

How Trump hopes to use party machinery to retain control of the G.O.P.

Ronna McDaniel, a close ally of President Trump, wants to remain head of the Republican National Committee, worrying party members who believe the president will try to use the group to keep control of the G.O.P.

— NYT: Top Stories

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For Edit

Alabama’s Nick Saban snaps back after question about team’s time of possession in blowout win

No. 1 Alabama rocked Kentucky on Saturday in an SEC matchup and coach Nick Saban wasn’t trying to hear questions about any other statistic than what was up on the scoreboard.

 

— FOX News

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For Edit

Operation Warp Speed projects 70% herd immunity, potential return to normalcy May 2021

The project will aim to ship vaccines as soon as they receive approval, meaning that they hope to start seeing immunization starting December 11th or 12th.

 

— FOX News

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Send some holiday cheer

We have tips for how to manage a holiday card in an extraordinary year. Plus, more ideas for how to lead a full and cultured life at home.

— NYT: Top Stories