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Skechers donates a million masks in partnership with United Way of Greater Los Angeles and charities

Masks Will Go to Communities in Need in the United States After Fans Dance to Hit Song “Skechers” by DripReport on TikTok—A Track Shared More Than a Billion Times to Date

MANHATTAN BEACH, Calif.–(BUSINESS WIRE)–Skechers got the world dancing for a cause after dropping a TikTok dance challenge set to the track “Skechers” by DripReport that concluded with the lifestyle company donating one million masks to essential workers and communities in need. Skechers is partnering with the United Way of Greater Los Angeles and more charities across the country to deliver the masks directly to those who will most benefit.


The one million masks, which are non-medical, triple-layer surgical style, will be donated to non-profit organizations that typically do not receive PPE from government institutions, with a focus on economic hardship. This includes community and public education centers, health and rehab outreach facilities, plus homeless shelters and food banks in the greater Los Angeles area as well as planned distributions in Chicago, New York City, Detroit and several cities in Florida and New Jersey.

“We’ve been watching TikTok become a driving force that’s keeping so many people connected during this difficult time,” said Robert Greenberg, CEO of Skechers. “After the viral success of DripReport’s ‘Skechers’ on the platform, I knew we had to transform the momentum into a give-back effort—one that ended up involving fans also giving back just by sharing a dance. It’s a beautiful thing, and we’re excited to be working with the United Way and all of our partners on donating a million masks, as we all make a difference together.”

“Throughout the pandemic, two things have flourished: creativity and care,” said Elise Bulk, president and CEO of United Way of Greater Los Angeles. “It’s heartwarming to see fans from around the world express themselves to raise awareness in concert with the charitable efforts of a local business with a global reach like Skechers. As case numbers increase across the Los Angeles area, United Way is proud to partner with Skechers, donating masks where they can protect front-line workers and the most vulnerable people in our community.”

The United Way of Greater Los Angeles will be distributing Skechers masks to shelters, clinics, community centers and food banks throughout the metropolitan region from San Gabriel to Long Beach over the next month. The remaining masks will be distributed to facilities in key vulnerable communities identified and supported by charity partners across the country.

The #MillionMaskChallenge campaign started with announcements by some of the most influential TikTokers including Addison Rae, Loren Gray, Spencer X, Maiko, Avani and the Croes Brothers among others with a combined following of more than 350 million. They asked their fans to create a video dancing to the hit viral track “Skechers” by DripReport, and for every “Skechers” dance shared, the Company agreed to donate up to a million Skechers face masks to essential workers and organizations within communities in need. A congratulatory video from the influencers can be seen here.

“From the start, I wanted to turn this moment into a movement,” said DripReport, who signed with Arista Records earlier this year for the official release of “Skechers”—his first original track. “Part of my goal with the track was to show you can make whatever you wear cool and share a message about self-confidence over material things. When I originally released ‘Skechers’ in January, the world was in a different place. After the track blew up, I love that Skechers and I succeeded in making it stand for so much more.”

The “Skechers” track by DripReport has been nothing short of a phenomenon. “Skechers” spent five weeks on top of the Spotify US Viral Chart—breaking a record set by Lil Nas X’s “Old Town Road.” Rolling Stone declared it “the most-streamed song in history about…sneakers” and it went on to be shared more than a billion times on TikTok with millions creating and sharing their own dances. GRAMMY®-nominated rapper, singer and songwriter Tyga dropped his own remix of the track in May and DripReport also released his own remix with an animated music video that heavily features Skechers. DripReport first appeared as an Instagram page for sharing remixes of popular hip-hop songs, and eventually grew in popularity with hundreds of millions of views on YouTube and social media for his content.

About Skechers USA, Inc.

Based in Manhattan Beach, California, Skechers (NYSE: SKX) designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in the United States and over 170 countries and territories via department and specialty stores, and direct to consumers through 3,615 Company- and third-party-owned retail stores and e-commerce websites. The Company manages its international business through a network of global distributors, joint venture partners in Asia, Israel and Mexico, and wholly-owned subsidiaries in Canada, Japan, India, Europe and Latin America. For more information, please visit about.skechers.com and follow us on Facebook, Instagram, Twitter, and TikTok.

About United Way of Greater Los Angeles

United Way of Greater Los Angeles is a nonprofit organization fighting to end poverty by preparing students for high school graduation, college, and the workforce, housing our homeless neighbors, and guiding hard-working families towards economic mobility. United Way identifies the root causes of poverty and works strategically to solve them by building alliances across all sectors, funding targeted programs and advocating for change. For more information, visit UnitedWayLA.org and EveryoneInLA.org.

This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, without limitation, Skechers’ future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward-looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will be,” “will continue,” “will result,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include the disruption of business and operations due to the COVID-19 pandemic; international economic, political and market conditions including the challenging consumer retail markets in the United States; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers, especially in the highly competitive performance footwear market; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in Skechers’ annual report on Form 10-K for the year ended December 31, 2019 and its quarterly report on Form 10-Q for the three months ended June 30, 2020. More specifically, the COVID-19 pandemic has had and is currently having a significant impact on Skechers’ business, financial conditions, cash flow and results of operations. Forward-looking statements with respect to the COVID-19 pandemic include, without limitation, Skechers’ plans in response to this pandemic. At this time, there is significant uncertainty about the COVID-19 pandemic, including without limitation, (i) the duration and extent of the impact of the pandemic, (ii) governmental responses to the pandemic, including how such responses could impact Skechers’ business and operations, as well as the operations of its factories and other business partners, (iii) the effectiveness of Skechers’ actions taken in response to these risks, and (iv) Skechers’ ability to effectively and timely adjust its plans in response to the rapidly changing retail and economic environment. Taking these and other risk factors associated with the COVID-19 pandemic into consideration, the dynamic nature of these circumstances means that what is stated in this press release could change at any time, and as a result, actual results could differ materially from those contemplated by such forward-looking statements. The risks included here are not exhaustive. Skechers operates in a very competitive and rapidly changing environment. New risks emerge from time to time and we cannot predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.

Contacts

Jennifer Clay

Skechers USA, Inc.

310.937.1326

Julie Cozort

United Way of Greater Los Angeles

jcozort@unitedwayla.org

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Business

AM Best affirms credit ratings of American International Group, Inc. and most subsidiaries; downgrades Issuer Credit Ratings of life/health subsidiaries

OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb” of American International Group, Inc. (AIG) (headquartered in New York, NY) [NYSE: AIG]. AM Best also has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a” of its property/casualty insurance subsidiaries (collectively referred to as AIG PC). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has downgraded the Long-Term ICR to “a” from “a+” and affirmed the FSR of A (Excellent) for the members of the AIG Life & Retirement Group (AIG L&R). The outlook of the Long-Term ICR has been revised to stable from negative, while the outlook of the FSR is stable. (Please see below for a detailed listing of the companies and ratings.)

AIG’s ratings reflect its consolidated risk-adjusted capitalization at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), which is an improvement from the very strong level seen in the 2019 review period. Additionally, consolidated risk-adjusted capital is likely to improve now that the Fortitude Reinsurance Company Ltd. (Fortitude RE) transaction has closed. While the closing of Fortitude RE brought with it significant write-downs during 2020, these write-downs did not impact the general insurance or life and retirement statutory entities, and cash flow is still expected to be positive. Overall, AM Best views this transaction as positive for AIG as it sheds longer-tail risk liabilities, along with potentially riskier, longer-duration assets paired with those reserves. Access to the capital markets and significant liquidity at the holding company level also aids the balance sheet. An offsetting factor in the balance sheet strength assessment is the increase in financial leverage and a lower interest coverage ratio expected for 2020.

AIG’s historical operating performance has been hampered by significant losses in general insurance, but the company has made strides in refining its risk profile and AM Best expects further improvement. AIG’s business profile is global, with a distinctly diverse set of property/casualty and life and annuity products, a broad distribution network and significant market share on many of its lines of business.

The ratings of AIG PC reflect the group’s balance sheet strength, which AM Best categorizes as very strong, as well as its marginal operating performance, favorable business profile and appropriate enterprise risk management (ERM).

AIG PC’s risk-adjusted capital position improved in 2019, reflective of a material reduction in net loss reserves as the group continues to pay down claims for older accident years. The group’s balance sheet strength continues to benefit from reinsurance support from highly rated companies. Offsetting these positive factors is the continued reduction in surplus levels that have decreased in each of the past five years, as well as the group’s high gross underwriting leverage, which has risen in recent years as a result of increased use of reinsurance to curb volatility and increase underwriting profitability.

AM Best views AIG PC’s operating performance as marginal. The group has been materially impacted over the last five years by underwriting losses and a reduction in investment income, leading to a five-year operating ratio of 102.1 that continues to lag the commercial casualty composite performance over the same time period by a considerable margin. However, AM Best notes that the group’s operating performance has demonstrated a steadily improving trend for the past three calendar years, attributable to numerous underwriting and risk management initiatives, as well as positive pricing momentum in most key business lines. The potential for further improvement in the near term is reduced by uncertainty related to the COVID-19 pandemic, which could dampen growth opportunities, increase underwriting losses and creates the possibility of investment impairments.

The ratings of AIG L&R ratings reflect its balance sheet strength, which AM Best categorizes as adequate, as well as its strong operating performance, favorable business profile and appropriate ERM.

The Long-Term ICR downgrade reflects a revision in AM Best’s assessment of the AIG L&R’s operating performance to strong from very strong. AM Best believes the group’s more-recent returns, and prospective returns, will be more in line with its strong rated peers, driven by intense competition within the annuity segment and record low interest rates, both of which are likely to continue to drive spread income and fee income lower. In addition, the low interest rate environment is likely to negatively impact the top and bottom lines within the individual and group annuity segments.

AIG L&R’s balance sheet assessment remains stable at adequate, and its year-over-year risk-adjusted capital position remains virtually unchanged at year-end 2019. The risk-adjusted capital position benefits from the large modified coinsurance agreement with Fortitude RE, which reduces much of the risk from the longer-term structured settlements book of business. AIG L&R has had a high dividend payout ratio back to the parent due in large part to a series of de-risking practices, which has lowered the need for additional capital, but overall capital and surplus growth has been limited. Going forward, the parent holding company may become less reliant on AIG L&R dividends due its recent sale of Fortitude RE, increased liquidity and improving performance within its general insurance segment. AIG L&R’s ratings also reflect its favorable business profile with a diverse set of product offerings and national reach with its robust distribution network.

The FSR of A (Excellent) and the Long-Term ICRs of “a” have been affirmed with stable outlooks for the following subsidiaries of AIG, which are collectively referred to as the AIG Property Casualty Insurance Group:

  • National Union Fire Insurance Company of Pittsburgh, PA
  • American Home Assurance Company
  • Lexington Insurance Company
  • Commerce and Industry Insurance Company
  • AIG Property Casualty Company
  • The Insurance Company of the State of Pennsylvania
  • New Hampshire Insurance Company
  • Illinois National Insurance Company
  • AIG Specialty Insurance Company
  • AIU Insurance Company
  • AIG Assurance Company
  • AIG Insurance Company – Puerto Rico
  • AIG Insurance Company of Canada
  • AIG Insurance Hong Kong Limited
  • Granite State Insurance Company
  • Tudor Insurance Company
  • Stratford Insurance Company
  • Western World Insurance Company
  • Blackboard Specialty Insurance Company
  • Blackboard Insurance Company
  • American International Group UK Limited
  • American International Reinsurance Company, Ltd.
  • AIG Asia Pacific Insurance Pte. Ltd.
  • Validus Reinsurance, Ltd.
  • Validus Reinsurance (Switzerland) Ltd.

The Long-Term ICRs have been downgraded to “a” from “a+” and the FSR of A (Excellent) affirmed, with the outlook of the Long-Term ICR revised to stable from negative and the FSR outlook maintained as stable, for the following operating subsidiaries of AIG, which are collectively referred to as the AIG Life & Retirement Group:

  • AGC Life Insurance Company
  • American General Life Insurance Company
  • United States Life Insurance Company in the City of New York
  • The Variable Annuity Life Insurance Company

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Gregory Dickerson
Associate Director—P/C
+1 908 439 2200, ext. 5161
gregory.dickerson@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Erik Miller
Associate Director—L/H
+1 908 439 2200, ext. 5187
erik.miller@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Business

AM Best affirms credit ratings of Fidelity Life Association, A Legal Reserve Life Insurance Company

OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Fidelity Life Association, A Legal Reserve Life Insurance Company (FLA) (Chicago, IL). The outlook of these Credit Ratings (ratings) is stable. FLA is a wholly owned subsidiary of Vericity, Inc. (Vericity or the Company).

The ratings reflect FLA’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

FLA has maintained the strongest level of risk-adjusted capitalization, even though total capital and surplus has been declining for the past couple of years. Reinsurance leverage remains high against industry trends, as the company continues to utilize reserve financing as part of its capital structure. While AM Best considers the operating performance results to be adequate, operating performance in 2019 was impacted by a portion of non-recurring costs associated with the initial public offering. Direct premiums written remained strong and have been increasing steadily, with somewhat improved return on equity from prior years, but still lags behind the industry average.

On Aug. 7, 2019, Vericity completed the initial public offering of its common stock, and as a result of the conversion, it became the holding company for converted Members Mutual Holding Company and its indirect subsidiaries, including Fidelity Life Association and eFinancial, LLC, and began trading on the Nasdaq Capital Market under the symbol VERY. The completed Subscription Rights Conversion raised $148.8 million. A majority of the net premiums written are associated with ordinary life products and tend to have higher lapses than the industry average. The Company’s strategic alliance with affinity partners has added client growth, creating an opportunity for value-added capital deployment.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Igor Bass

Financial Analyst

+1 908 439 2200, ext. 5109

igor.bass@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Anthony McSwieney
Senior Financial Analyst
+1 908 439 2200, ext. 5715
anthony.mcswieney@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Healthcare

Eagle Pharmaceuticals announces publication of preclinical study of Intranasal Dantrolene in Journal of Alzheimer’s Disease

WOODCLIFF LAKE, N.J.–(BUSINESS WIRE)–Eagle Pharmaceuticals, Inc. (Nasdaq: EGRX) (“Eagle” or the “Company”) today announced that preclinical research on dantrolene sodium was published today in the peer-reviewed Journal of Alzheimer’s Disease.1 The article reported results from an academic-based study that demonstrated dantrolene sodium administered intranasally improved both memory and cognition in a mouse model of Alzheimer’s disease. Eagle markets a formulation of dantrolene sodium but did not sponsor the study.

The study evaluated plasma and brain dantrolene concentrations, effectiveness, and safety when dantrolene sodium was given in doses of five milligrams per kilogram three times a week either intranasally or as a subcutaneous injection. The study also compared dosing when started early, before Alzheimer’s disease symptoms develop, versus later, after onset of Alzheimer’s disease symptoms. Intranasal and subcutaneous dantrolene sodium administration each significantly improved hippocampal-dependent and -independent memory in the early treatment group, but only intranasal dantrolene improved cognition in the late treatment group.

  1. Shi Y, Zhang L, Gao X, et al. Intranasal Dantrolene as a Disease-Modifying Drug in Alzheimer 5XFAD Mice [published online ahead of print, 2020 Jun 27]. J Alzheimers Dis. 2020;10.3233/JAD-200227. doi:10.3233/JAD-200227.

About Alzheimer’s disease

About 50 million people have dementia globally, of whom 60 to 70 percent have Alzheimer’s disease, according to the World Health Organization. In the US, 5.8 million people are living with Alzheimer’s, which has no cure and is the sixth leading cause of death.

About Eagle Pharmaceuticals, Inc.

Eagle is a fully integrated pharmaceutical company with research and development, clinical, manufacturing and commercial expertise. Eagle is committed to developing innovative medicines that result in meaningful improvements in patients’ lives. Eagle’s commercialized products include RYANODEX®, BENDEKA®, BELRAPZO®, and its oncology and CNS/metabolic critical care pipeline includes product candidates with the potential to address underserved therapeutic areas across multiple disease states. Additional information is available on Eagle’s website at www.eagleus.com.

Forward-Looking Statements

This press release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and other securities laws. Forward-looking statements are statements that are not historical facts. Words and phrases such as “anticipated,” “forward,” “will,” “would,” “may,” “remain,” “potential,” “prepare,” “expected,” “believe,” “plan,” “near future,” “belief,” “guidance,” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding future events including the potential of dantrolene sodium as a treatment for Alzheimer’s disease. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond Eagle’s control, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and the Company does not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

Contacts

Investor Relations for Eagle Pharmaceuticals, Inc.:

Lisa M. Wilson

In-Site Communications, Inc.

T: 212-452-2793

E: lwilson@insitecony.com

Public Relations for Eagle Pharmaceuticals, Inc.:

Faith Pomeroy-Ward

T: 817-807-8044

E: faith@fpwservices.com

Categories
Healthcare

Merck’s KEYTRUDA® (pembrolizumab) in combination with chemotherapy significantly improved overall survival and progression-free survival compared with chemotherapy in locally advanced or first-line metastatic esophageal cancer

KEYTRUDA Is First Anti-PD-1 Therapy in Combination With Chemotherapy to Show Superior Survival Benefit as First-Line Treatment for Patients With Esophageal Cancer Regardless of Histology

Results of Phase 3 KEYNOTE-590 Trial to be Submitted to Global Regulatory Authorities

KENILWORTH, N.J.–(BUSINESS WIRE)–$MRK #MRK–Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced that the pivotal Phase 3 KEYNOTE-590 trial evaluating KEYTRUDA, Merck’s anti-PD-1 therapy, in combination with chemotherapy (cisplatin plus 5-fluorouracil [5-FU]), met its primary endpoints of overall survival (OS) and progression-free survival (PFS) for the first-line treatment of patients with locally advanced or metastatic esophageal cancer. Based on an interim analysis conducted by an independent Data Monitoring Committee, KEYTRUDA in combination with chemotherapy demonstrated a statistically significant and clinically meaningful improvement in OS and PFS compared with chemotherapy (cisplatin plus 5-FU), the current standard of care, in the intention-to-treat (ITT) population. The study also met the key secondary endpoint of objective response rate (ORR), with significant improvements for KEYTRUDA in combination with chemotherapy compared with chemotherapy alone. The safety profile of KEYTRUDA in this trial was consistent with that observed in previously reported studies. Results will be shared with global regulatory authorities and have been submitted for presentation at the European Society for Medical Oncology (ESMO) Virtual Congress 2020.

Esophageal cancer is a devastating malignancy with a high mortality rate and few treatment options in the first-line setting beyond chemotherapy,” said Dr. Roy Baynes, senior vice president and head of global clinical development, chief medical officer, Merck Research Laboratories. “In this pivotal study, KEYTRUDA plus chemotherapy resulted in superior overall survival compared with the current standard of care in the full study population and across all patient groups evaluated. These results build upon our research reinforcing the survival benefits of KEYTRUDA, and we look forward to engaging regulatory authorities as quickly as possible.”

KEYTRUDA is currently approved in the U.S. and China as monotherapy for the second-line treatment of patients with recurrent locally advanced or metastatic squamous cell carcinoma of the esophagus whose tumors express PD-L1 (Combined Positive Score [CPS] ≥10). Merck is continuing to study KEYTRUDA across multiple settings and stages of gastrointestinal cancer – including gastric, hepatobiliary, esophageal, pancreatic, colorectal and anal cancers – through its broad clinical program.

About KEYNOTE-590

KEYNOTE-590 is a randomized, double-blind, Phase 3 trial (ClinicalTrials.gov, NCT03189719) evaluating KEYTRUDA in combination with chemotherapy compared with placebo plus chemotherapy for the first-line treatment of patients with locally advanced or metastatic esophageal carcinoma (adenocarcinoma or squamous cell carcinoma of the esophagus or Siewert type 1 adenocarcinoma of the esophagogastric junction). The primary endpoints are OS and PFS. The secondary endpoints include ORR, duration of response and safety. The study enrolled 749 patients who were randomized to receive:

  • KEYTRUDA (200 mg intravenously [IV] on Day 1 of each three-week cycle for up to 35 cycles); plus cisplatin (80 mg/m2 IV on Day 1 of each three-week cycle for up to six cycles); plus 5-FU (800 mg/m2 IV per day on Day 1 to Day 5 of each three-week cycle, or per local standard for 5-FU administration, for up to 35 cycles); or
  • Placebo; plus cisplatin (80 mg/m2 IV on Day 1 of each three-week cycle for up to six cycles); plus 5-FU (800 mg/m2 IV per day on Day 1 to Day 5 of each three-week cycle, or per local standard for 5-FU administration, for up to 35 cycles).

About Esophageal Cancer

Esophageal cancer, a type of cancer that is particularly difficult to treat, begins in the inner layer (mucosa) of the esophagus and grows outward. The two main types of esophageal cancer are squamous cell carcinoma and adenocarcinoma. Esophageal cancer is the seventh most commonly diagnosed cancer and the sixth leading cause of death from cancer worldwide. Globally, it is estimated there were more than 572,000 new cases of esophageal cancer diagnosed and nearly 509,000 deaths resulting from the disease in 2018. In the U.S. alone, it is estimated there will be nearly 18,500 new cases of esophageal cancer diagnosed and more than 16,000 deaths resulting from the disease in 2020.

About KEYTRUDA® (pembrolizumab) Injection, 100 mg

KEYTRUDA is an anti-PD-1 therapy that works by increasing the ability of the body’s immune system to help detect and fight tumor cells. KEYTRUDA is a humanized monoclonal antibody that blocks the interaction between PD-1 and its ligands, PD-L1 and PD-L2, thereby activating T lymphocytes which may affect both tumor cells and healthy cells.

Merck has the industry’s largest immuno-oncology clinical research program. There are currently more than 1,200 trials studying KEYTRUDA across a wide variety of cancers and treatment settings. The KEYTRUDA clinical program seeks to understand the role of KEYTRUDA across cancers and the factors that may predict a patient’s likelihood of benefitting from treatment with KEYTRUDA, including exploring several different biomarkers.

Selected KEYTRUDA® (pembrolizumab) Indications

Melanoma

KEYTRUDA is indicated for the treatment of patients with unresectable or metastatic melanoma.

KEYTRUDA is indicated for the adjuvant treatment of patients with melanoma with involvement of lymph node(s) following complete resection.

Non-Small Cell Lung Cancer

KEYTRUDA, in combination with pemetrexed and platinum chemotherapy, is indicated for the first-line treatment of patients with metastatic nonsquamous non-small cell lung cancer (NSCLC), with no EGFR or ALK genomic tumor aberrations.

KEYTRUDA, in combination with carboplatin and either paclitaxel or paclitaxel protein-bound, is indicated for the first-line treatment of patients with metastatic squamous NSCLC.

KEYTRUDA, as a single agent, is indicated for the first-line treatment of patients with NSCLC expressing PD-L1 [tumor proportion score (TPS) ≥1%] as determined by an FDA-approved test, with no EGFR or ALK genomic tumor aberrations, and is stage III where patients are not candidates for surgical resection or definitive chemoradiation, or metastatic.

KEYTRUDA, as a single agent, is indicated for the treatment of patients with metastatic NSCLC whose tumors express PD-L1 (TPS ≥1%) as determined by an FDA-approved test, with disease progression on or after platinum-containing chemotherapy. Patients with EGFR or ALK genomic tumor aberrations should have disease progression on FDA-approved therapy for these aberrations prior to receiving KEYTRUDA.

Small Cell Lung Cancer

KEYTRUDA is indicated for the treatment of patients with metastatic small cell lung cancer (SCLC) with disease progression on or after platinum-based chemotherapy and at least 1 other prior line of therapy. This indication is approved under accelerated approval based on tumor response rate and durability of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.

Head and Neck Squamous Cell Cancer

KEYTRUDA, in combination with platinum and fluorouracil (FU), is indicated for the first-line treatment of patients with metastatic or with unresectable, recurrent head and neck squamous cell carcinoma (HNSCC).

KEYTRUDA, as a single agent, is indicated for the first-line treatment of patients with metastatic or with unresectable, recurrent HNSCC whose tumors express PD-L1 [combined positive score (CPS) ≥1] as determined by an FDA-approved test.

KEYTRUDA, as a single agent, is indicated for the treatment of patients with recurrent or metastatic head and neck squamous cell carcinoma (HNSCC) with disease progression on or after platinum-containing chemotherapy.

Classical Hodgkin Lymphoma

KEYTRUDA is indicated for the treatment of adult and pediatric patients with refractory classical Hodgkin lymphoma (cHL), or who have relapsed after 3 or more prior lines of therapy. This indication is approved under accelerated approval based on tumor response rate and durability of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials.

Primary Mediastinal Large B-Cell Lymphoma

KEYTRUDA is indicated for the treatment of adult and pediatric patients with refractory primary mediastinal large B-cell lymphoma (PMBCL), or who have relapsed after 2 or more prior lines of therapy. This indication is approved under accelerated approval based on tumor response rate and durability of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials. KEYTRUDA is not recommended for treatment of patients with PMBCL who require urgent cytoreductive therapy.

Urothelial Carcinoma

KEYTRUDA is indicated for the treatment of patients with locally advanced or metastatic urothelial carcinoma (mUC) who are not eligible for cisplatin-containing chemotherapy and whose tumors express PD-L1 [combined positive score (CPS) ≥10], as determined by an FDA-approved test, or in patients who are not eligible for any platinum-containing chemotherapy regardless of PD-L1 status. 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.

KEYTRUDA is indicated for the treatment of patients with locally advanced or metastatic urothelial carcinoma (mUC) who have disease progression during or following platinum-containing chemotherapy or within 12 months of neoadjuvant or adjuvant treatment with platinum-containing chemotherapy.

KEYTRUDA is indicated for the treatment of patients with Bacillus Calmette-Guerin (BCG)-unresponsive, high-risk, non-muscle invasive bladder cancer (NMIBC) with carcinoma in situ (CIS) with or without papillary tumors who are ineligible for or have elected not to undergo cystectomy.

Microsatellite Instability-High or Mismatch Repair Deficient Cancer

KEYTRUDA is indicated for the treatment of adult and pediatric patients with unresectable or metastatic microsatellite instability-high (MSI-H) or mismatch repair deficient (dMMR)

  • solid tumors that have progressed following prior treatment and who have no satisfactory alternative treatment options, or
  • colorectal cancer that has progressed following treatment with fluoropyrimidine, oxaliplatin, and irinotecan.

This indication is approved under accelerated approval based on tumor response rate and durability of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials. The safety and effectiveness of KEYTRUDA in pediatric patients with MSI-H central nervous system cancers have not been established.

Microsatellite Instability-High or Mismatch Repair Deficient Colorectal Cancer

KEYTRUDA is indicated for the first-line treatment of patients with unresectable or metastatic MSI-H or dMMR colorectal cancer (CRC).

Gastric Cancer

KEYTRUDA is indicated for the treatment of patients with recurrent locally advanced or metastatic gastric or gastroesophageal junction (GEJ) adenocarcinoma whose tumors express PD-L1 (CPS ≥1) as determined by an FDA-approved test, with disease progression on or after two or more prior lines of therapy including fluoropyrimidine- and platinum-containing chemotherapy and if appropriate, HER2/neu-targeted therapy. This indication is approved under accelerated approval based on tumor response rate and durability of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials.

Esophageal Cancer

KEYTRUDA is indicated for the treatment of patients with recurrent locally advanced or metastatic squamous cell carcinoma of the esophagus whose tumors express PD-L1 (CPS ≥10) as determined by an FDA-approved test, with disease progression after one or more prior lines of systemic therapy.

Cervical Cancer

KEYTRUDA is indicated for the treatment of patients with recurrent or metastatic cervical cancer with disease progression on or after chemotherapy whose tumors express PD-L1 (CPS ≥1) as determined by an FDA-approved test. This indication is approved under accelerated approval based on tumor response rate and durability of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials.

Hepatocellular Carcinoma

KEYTRUDA 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 tumor response rate and durability of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials.

Merkel Cell Carcinoma

KEYTRUDA is indicated for the treatment of adult and pediatric patients with recurrent locally advanced or metastatic Merkel cell carcinoma (MCC). This indication is approved under accelerated approval based on tumor response rate and durability of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials.

Renal Cell Carcinoma

KEYTRUDA, in combination with axitinib, is indicated for the first-line treatment of patients with advanced renal cell carcinoma (RCC).

Tumor Mutational Burden-High

KEYTRUDA is indicated for the treatment of adult and pediatric patients with unresectable or metastatic tumor mutational burden-high (TMB-H) [≥10 mutations/megabase (mut/Mb)] solid tumors, as determined by an FDA-approved test, that have progressed following prior treatment and who have no satisfactory alternative treatment options. This indication is approved under accelerated approval based on tumor response rate and durability of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trials. The safety and effectiveness of KEYTRUDA in pediatric patients with TMB-H central nervous system cancers have not been established.

Cutaneous Squamous Cell Carcinoma

KEYTRUDA is indicated for the treatment of patients with recurrent or metastatic cutaneous squamous cell carcinoma (cSCC) that is not curable by surgery or radiation.

Selected Important Safety Information for KEYTRUDA

Immune-Mediated Pneumonitis

KEYTRUDA can cause immune-mediated pneumonitis, including fatal cases. Pneumonitis occurred in 3.4% (94/2799) of patients with various cancers receiving KEYTRUDA, including Grade 1 (0.8%), 2 (1.3%), 3 (0.9%), 4 (0.3%), and 5 (0.1%). Pneumonitis occurred in 8.2% (65/790) of NSCLC patients receiving KEYTRUDA as a single agent, including Grades 3-4 in 3.2% of patients, and occurred more frequently in patients with a history of prior thoracic radiation (17%) compared to those without (7.7%). Pneumonitis occurred in 6% (18/300) of HNSCC patients receiving KEYTRUDA as a single agent, including Grades 3-5 in 1.6% of patients, and occurred in 5.4% (15/276) of patients receiving KEYTRUDA in combination with platinum and FU as first-line therapy for advanced disease, including Grades 3-5 in 1.5% of patients.

Monitor patients for signs and symptoms of pneumonitis. Evaluate suspected pneumonitis with radiographic imaging. Administer corticosteroids for Grade 2 or greater pneumonitis. Withhold KEYTRUDA for Grade 2; permanently discontinue KEYTRUDA for Grade 3 or 4 or recurrent Grade 2 pneumonitis.

Immune-Mediated Colitis

KEYTRUDA can cause immune-mediated colitis. Colitis occurred in 1.7% (48/2799) of patients receiving KEYTRUDA, including Grade 2 (0.4%), 3 (1.1%), and 4 (<0.1%). Monitor patients for signs and symptoms of colitis. Administer corticosteroids for Grade 2 or greater colitis. Withhold KEYTRUDA for Grade 2 or 3; permanently discontinue KEYTRUDA for Grade 4 colitis.

Immune-Mediated Hepatitis (KEYTRUDA) and Hepatotoxicity (KEYTRUDA in Combination With Axitinib)

Immune-Mediated Hepatitis

KEYTRUDA can cause immune-mediated hepatitis. Hepatitis occurred in 0.7% (19/2799) of patients receiving KEYTRUDA, including Grade 2 (0.1%), 3 (0.4%), and 4 (<0.1%). Monitor patients for changes in liver function. Administer corticosteroids for Grade 2 or greater hepatitis and, based on severity of liver enzyme elevations, withhold or discontinue KEYTRUDA.

Hepatotoxicity in Combination With Axitinib

KEYTRUDA in combination with axitinib can cause hepatic toxicity with higher than expected frequencies of Grades 3 and 4 ALT and AST elevations compared to KEYTRUDA alone. With the combination of KEYTRUDA and axitinib, Grades 3 and 4 increased ALT (20%) and increased AST (13%) were seen. Monitor liver enzymes before initiation of and periodically throughout treatment. Consider more frequent monitoring of liver enzymes as compared to when the drugs are administered as single agents. For elevated liver enzymes, interrupt KEYTRUDA and axitinib, and consider administering corticosteroids as needed.

Immune-Mediated Endocrinopathies

KEYTRUDA can cause adrenal insufficiency (primary and secondary), hypophysitis, thyroid disorders, and type 1 diabetes mellitus. Adrenal insufficiency occurred in 0.8% (22/2799) of patients, including Grade 2 (0.3%), 3 (0.3%), and 4 (<0.1%). Hypophysitis occurred in 0.6% (17/2799) of patients, including Grade 2 (0.2%), 3 (0.3%), and 4 (<0.1%). Hypothyroidism occurred in 8.5% (237/2799) of patients, including Grade 2 (6.2%) and 3 (0.1%). The incidence of new or worsening hypothyroidism was higher in 1185 patients with HNSCC (16%) receiving KEYTRUDA, as a single agent or in combination with platinum and FU, including Grade 3 (0.3%) hypothyroidism. Hyperthyroidism occurred in 3.4% (96/2799) of patients, including Grade 2 (0.8%) and 3 (0.1%), and thyroiditis occurred in 0.6% (16/2799) of patients, including Grade 2 (0.3%). Type 1 diabetes mellitus, including diabetic ketoacidosis, occurred in 0.2% (6/2799) of patients.

Monitor patients for signs and symptoms of adrenal insufficiency, hypophysitis (including hypopituitarism), thyroid function (prior to and periodically during treatment), and hyperglycemia. For adrenal insufficiency or hypophysitis, administer corticosteroids and hormone replacement as clinically indicated. Withhold KEYTRUDA for Grade 2 adrenal insufficiency or hypophysitis and withhold or discontinue KEYTRUDA for Grade 3 or Grade 4 adrenal insufficiency or hypophysitis. Administer hormone replacement for hypothyroidism and manage hyperthyroidism with thionamides and beta-blockers as appropriate. Withhold or discontinue KEYTRUDA for Grade 3 or 4 hyperthyroidism. Administer insulin for type 1 diabetes, and withhold KEYTRUDA and administer antihyperglycemics in patients with severe hyperglycemia.

Immune-Mediated Nephritis and Renal Dysfunction

KEYTRUDA can cause immune-mediated nephritis. Nephritis occurred in 0.3% (9/2799) of patients receiving KEYTRUDA, including Grade 2 (0.1%), 3 (0.1%), and 4 (<0.1%) nephritis. Nephritis occurred in 1.7% (7/405) of patients receiving KEYTRUDA in combination with pemetrexed and platinum chemotherapy. Monitor patients for changes in renal function. Administer corticosteroids for Grade 2 or greater nephritis. Withhold KEYTRUDA for Grade 2; permanently discontinue for Grade 3 or 4 nephritis.

Immune-Mediated Skin Reactions

Immune-mediated rashes, including Stevens-Johnson syndrome (SJS), toxic epidermal necrolysis (TEN) (some cases with fatal outcome), exfoliative dermatitis, and bullous pemphigoid, can occur. Monitor patients for suspected severe skin reactions and based on the severity of the adverse reaction, withhold or permanently discontinue KEYTRUDA and administer corticosteroids. For signs or symptoms of SJS or TEN, withhold KEYTRUDA and refer the patient for specialized care for assessment and treatment. If SJS or TEN is confirmed, permanently discontinue KEYTRUDA.

Other Immune-Mediated Adverse Reactions

Immune-mediated adverse reactions, which may be severe or fatal, can occur in any organ system or tissue in patients receiving KEYTRUDA and may also occur after discontinuation of treatment. For suspected immune-mediated adverse reactions, ensure adequate evaluation to confirm etiology or exclude other causes. Based on the severity of the adverse reaction, withhold KEYTRUDA and administer corticosteroids. Upon improvement to Grade 1 or less, initiate corticosteroid taper and continue to taper over at least 1 month. Based on limited data from clinical studies in patients whose immune-related adverse reactions could not be controlled with corticosteroid use, administration of other systemic immunosuppressants can be considered. Resume KEYTRUDA when the adverse reaction remains at Grade 1 or less following corticosteroid taper. Permanently discontinue KEYTRUDA for any Grade 3 immune-mediated adverse reaction that recurs and for any life-threatening immune-mediated adverse reaction.

The following clinically significant immune-mediated adverse reactions occurred in less than 1% (unless otherwise indicated) of 2799 patients: arthritis (1.5%), uveitis, myositis, Guillain-Barré syndrome, myasthenia gravis, vasculitis, pancreatitis, hemolytic anemia, sarcoidosis, and encephalitis. In addition, myelitis and myocarditis were reported in other clinical trials, including classical Hodgkin lymphoma, and postmarketing use.

Treatment with KEYTRUDA may increase the risk of rejection in solid organ transplant recipients. Consider the benefit of treatment vs the risk of possible organ rejection in these patients.

Infusion-Related Reactions

KEYTRUDA can cause severe or life-threatening infusion-related reactions, including hypersensitivity and anaphylaxis, which have been reported in 0.2% (6/2799) of patients. Monitor patients for signs and symptoms of infusion-related reactions. For Grade 3 or 4 reactions, stop infusion and permanently discontinue KEYTRUDA.

Complications of Allogeneic Hematopoietic Stem Cell Transplantation (HSCT)

Immune-mediated complications, including fatal events, occurred in patients who underwent allogeneic HSCT after treatment with KEYTRUDA. Of 23 patients with cHL who proceeded to allogeneic HSCT after KEYTRUDA, 6 (26%) developed graft-versus-host disease (GVHD) (1 fatal case) and 2 (9%) developed severe hepatic veno-occlusive disease (VOD) after reduced-intensity conditioning (1 fatal case). Cases of fatal hyperacute GVHD after allogeneic HSCT have also been reported in patients with lymphoma who received a PD-1 receptor–blocking antibody before transplantation. Follow patients closely for early evidence of transplant-related complications such as hyperacute graft-versus-host disease (GVHD), Grade 3 to 4 acute GVHD, steroid-requiring febrile syndrome, hepatic veno-occlusive disease (VOD), and other immune-mediated adverse reactions.

Contacts

Media:

Pamela Eisele

(267) 305-3558

Kristen Drake

(908) 334-4688

Investors:

Peter Dannenbaum

(908) 740-1037

Courtney Ronaldo

(908) 740-6132

Read full story here

Categories
Healthcare

Romance Awareness Month: Maria Sophocles, MD spotlights intimacy, sex & women’s health needs

PRINCETON, N.J.–(BUSINESS WIRE)–When considering the many aspects of a healthy relationship, the importance of intimacy and safe, enjoyable sex is at the top of the list no matter what age or stage of life a woman might be in. Maria Sophocles, MD, OB/GYN and Director of Women’s Healthcare of Princeton, NJ sees patients of all ages and stresses that a pleasurable, fulfilling sex life is possible at any point in a woman’s life as long as she prioritizes her wants, needs, and sexual health.

“As a practicing OB/GYN, my patients provide unique insights into what women endure during various life stages. The consensus – it is completely normal to feel and act differently about sex at age 35 than 65. As women age, our bodies change and so do our wants and needs,” says Sophocles. “While every woman’s journey is unique, it’s important to prioritize sexual health and wellness to maintain healthy relationships and ensuing sex lives.”

Dr. Sophocles provides the following tips for women at any stage:

  1. Early 20’s-late 20’s: Party on-but take note! As newfound independence is celebrated and new jobs, careers, and relationships form, so does the possibility of new sexual partners. Increased sexual activity can introduce higher levels of bacteria into the delicately balanced vaginal ecosystem and can throw off healthy levels of vaginal pH. So, do practice safe sex, urinate before and after sex, and take a daily vaginal probiotic like RepHresh Pro-B, which helps to balance out the good and bad bacteria in the vagina.
  2. 30’s: As many women focus on their future and building a family, one in eight couples struggle with infertility, so it’s important to stay on top of menstrual cycles and schedule regular OB/GYN appointments. When trying to conceive, make sure the lubricant you use is fertility-friendly, like Pre-Seed. Additionally, keep accurate pregnancy tests on hand that can provide an early result such as First Response.
  3. 40’s-50’s: Perimenopause and menopause mark these decades, signaling symptoms like hot flashes, weight gain, vaginal dryness, and changes in sex drive which can mean painful sex. A vaginal, estrogen-free moisturizer like Replens soothes dry vaginal cells and lasts for 3-days after insertion.
  4. 60’s and beyond: As many find themselves ‘empty nesters,’ it’s a great time to focus on each other and shake things up in the bedroom to keep long term relationships exciting. Consider keeping a long-lasting, silicone lube like Replens Silky Smooth next to the bed to maximize comfort and eliminate painful sex.

“Regardless of age, women should be having healthy, satisfying and intimate connections with their partners,” adds Sophocles. “Don’t hesitate to bring up issues with your partner and communicate your needs – this will go a long way in ensuring a successful and happy relationship no matter what stage you are in life.”

Contacts

Lauren Powers

Lauren.powers@gcomworks.com
646-964-4446

Categories
Education

WGU establishes office in New Jersey to increase engagement with students, alumni, and external partners in northeastern states

Dr. Rebecca Watts appointed as Regional Vice President to lead team in 12-state region

SALT LAKE CITY–(BUSINESS WIRE)–Western Governors University (WGU) announced today that it has established an office in the greater New York City area to increase support for students, alumni, and external partners in 12 states in the Northeast. The university has appointed Rebecca Watts, Ph.D., as Regional Vice President.

Watts will lead university operations across the 12-state area—spanning the Eastern Seaboard from Virginia to Maine. In her role with the online, nonprofit university, she will help guide the strategic direction of WGU and further raise its profile among prospective students and university partners. She will play an instrumental role in developing and strengthening relationships with partner organizations that expand student access—especially among historically underserved student populations—to WGU’s nationally recognized postsecondary programs. Her leadership will also provide effective communications to external and internal audiences and strengthen WGU’s position as a leading organization in higher education.

Watts brings 17 years of experience as a leader in higher education. Previously, she was chancellor of WGU Ohio, a partnership between the state of Ohio and WGU to expand access to affordable higher education for Ohio residents through online, competency-based programs that address key workforce needs.

Prior to WGU, Watts served as executive director for the University of Wyoming Trustees Education Initiative, a statewide effort to support Wyoming’s K–12 schools with innovative educator preparation. As associate vice chancellor for P–16 Initiatives at the Ohio Department of Higher Education, she led educator preparation program review and approval, college readiness efforts, and STEM scholarship and college-access programs.

Watts holds a doctorate in higher education leadership from Ohio University and degrees in communication, including a master’s degree from the University of Illinois at Springfield, a bachelor’s degree from Sangamon State University, Ill., and an associate degree from Lincoln Land Community College, Ill. She lives in Jersey City, N.J.

About WGU

Established in 1997 by 19 U.S. governors with a mission to expand access to high-quality, affordable higher education, online, nonprofit WGU now serves more than 121,000 students nationwide and has more than 195,000 graduates in all 50 states. Driving innovation as the nation’s leading competency-based university, WGU has been recognized by the White House, state leaders, employers, and students as a model that works in postsecondary education. In just 23 years, the university has become a leading influence in changing the lives of individuals and families, and preparing the workforce needed in today’s rapidly evolving economy. WGU is accredited by the Northwest Commission on Colleges and Universities, has been named one of Fast Company’s Most Innovative Companies, and has been featured on NPR, NBC Nightly News CNN, and in The New York Times. Learn more at www.wgu.edu

Contacts

Contact for media inquiries:
Dulcey Antonucci, WGU Communications

Dulcey.antonucci@wgu.edu

Categories
Business

AM BestTV presents ‘An Industry Transformed’: Digitally native, not by choice

OLDWICK, N.J.–(BUSINESS WIRE)–Top industry leaders share their thoughts about the pandemic and its impact on the insurance industry in the four-part series, “An Industry Transformed.”

Insurers are learning how to operate, distribute and respond in an all-digital environment. In this segment, a panel discusses the lessons insurers learned during the shutdown, and how they are reshaping operations, sales, product delivery and customer interactions. Watch now: www.ambest.com/ambtv/digital.

Panelists include:

  • Bill Pieroni, president and chief executive officer, ACORD;
  • Sean Ringsted, executive vice president, chief risk officer and chief digital officer, Chubb Group; and
  • Tanguy Catlin, senior partner, McKinsey & Company.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2020 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Lee McDonald
Group Vice President, Publication and News Services
+1 908 439 2200, ext. 5561
lee.mcdonald@ambest.com

Categories
Business

Susan Hardwick elected to the board of directors of New Jersey Resources

WALL, N.J.–(BUSINESS WIRE)–The board of directors of New Jersey Resources (NYSE: NJR) today announced the unanimous election of Susan Hardwick to the board. Ms. Hardwick currently serves as executive vice president and chief financial officer (CFO) of American Water, the largest publicly traded water and wastewater utility company in the United States.

“Susan Hardwick is an accomplished leader with extensive industry and financial expertise, as well as deep knowledge of environmental, sustainability and governance issues that are a priority for our business and critical to our long-term success,” said Steve Westhoven, president and CEO of New Jersey Resources. “She is a welcome addition to our board of directors.”

“New Jersey Resources’ diverse and experienced board becomes even stronger with the addition of Susan Hardwick and her thoughtful, independent oversight,” said Donald Correll, chairman of the board of New Jersey Resources. “Along with her wealth of experience from her years in the utility and financial sectors, Susan also brings with her an important perspective rooted in public service and commitment to our communities.”

As executive vice president and CFO at American Water, Ms. Hardwick is responsible for the development and execution of business and financial strategy for the company’s regulated utility and market-based businesses. She also oversees all accounting and finance functions, including treasury, external reporting, budgeting and financial modeling, enterprise risk management, investor relations as well as customer operations and regulatory services.

Prior to joining American Water, she served as executive vice president and CFO at Vectren Corporation. As a member of the executive leadership team, she led the development and execution of business and financial strategy for the energy holding company and its regulated utility and nonutility subsidiaries.

Ms. Hardwick earned a bachelor of science degree in accounting from Indiana University. She is a certified public accountant, a member of the American Institute of CPAs, and has held numerous leadership and committee roles with the American Gas Association and the Edison Electric Institute.

She has also served in leadership positions on numerous community-based organizations, including the Board of Family Promise, Inc., the Philadelphia Chamber of Commerce, St. Vincent Evansville Medical Center, Fifth Third Bank and the Evansville Museum of Arts. She was also appointed by the governor of Indiana to the state’s Arts Commission, where she served two terms.

About New Jersey Resources

New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:

  • New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains over 7,500 miles of natural gas transportation and distribution infrastructure to serve over half a million customers in New Jersey’s Monmouth, Ocean, Morris, Middlesex and Burlington counties.
  • NJR Clean Energy Ventures invests in, owns and operates solar projects with a total capacity of nearly 350 megawatts, providing residential and commercial customers with low-carbon solutions.
  • NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
  • NJR Midstream serves customers from local distributors and producers to electric generators and wholesale marketers through its ownership of Leaf River Energy Center and the Adelphia Gateway Pipeline Project, as well as our 50 percent equity ownership in the Steckman Ridge natural gas storage facility, and our 20 percent equity interest in the PennEast Pipeline Project.
  • NJR Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.

NJR and its more than 1,100 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®. For more information about NJR: www.njresources.com.

Follow us on Twitter @NJNaturalGas

“Like” us on facebook.com/NewJerseyNaturalGas

Contacts

Media:
Michael Kinney

732-938-1031

mkinney@njresources.com

Investors:
Dennis Puma

732-938-1229

dpuma@njresources.com

Categories
Business

KODAK ALERT: Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed against Eastman Kodak Company and encourages investors with losses in excess of $150,000 to contact the firm

NEW YORK–(BUSINESS WIRE)–#EastmanKodakCompany–Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of investors that purchased Eastman Kodak Company (NYSE: KODK) common stock between July 27, 2020 and August 7, 2020 (the “Class Period”). Investors have until October 13, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

The securities class action concerns several matters, including the suspicious timing of insider trading activity in connection with Kodak’s July 28, 2020 announcement that it had reached an agreement with the U.S. government to receive a $765 million loan to produce pharmaceutical ingredients.

As news of the deal broke, Kodak, which had been trading under $2 per share, skyrocketed, and within two days, the stock was trading around $60 per share, with 284 million shares changing hands. Just prior to the announcement of the loan, insiders purchased or were granted over 2 million shares of Kodak stock.

More specifically, the day before the deal was announced, the company granted CEO James Continenza options for 1.75 million shares, just under 29% of which vested immediately. As a result of the suspicious timing of the announcement, lawmakers have asked federal regulators to investigate securities transactions made by the company and its executives around the time Kodak learned it could receive the government loan, and the SEC has announced an investigation. On August 7, 2020, the U.S. International Development Finance Corporation said it was holding up the payout of the loan as regulators look into insider trading activity.

On this News the Company’s stock price declined $4.15, or 28%, from $14.88 per share on August 7, 2020, to $10.73 per share on August 10, 2020.

The complaint, filed on August 13, 2020, alleges that during the Class Period defendants engaged in a scheme to deceive the market and a course of conduct that artificially inflated the prices of Kodak’s securities and operated as a fraud or deceit on Class Period purchasers of Kodak’s securities by failing to disclose to investors that the company’s financial results were materially misleading and misrepresented material information. When defendants’ misrepresentations and fraudulent conduct were disclosed and became apparent to the market, the prices of Kodak’s securities fell precipitously as the prior inflation came out of the Company’s stock price.

If you purchased Kodak common stock during the Class Period and suffered a loss in excess of $150,000, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Bragar Eagel & Squire, P.C.

Melissa Fortunato, Esq.

Marion Passmore, Esq.

(212) 355-4648

investigations@bespc.com
www.bespc.com