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Business

AM Best affirms credit ratings of Massachusetts Mutual Life Insurance Company and its subsidiaries

OLDWICK, N.J. — (BUSINESS WIRE) — #insuranceAM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of “aa+” (Superior) of Massachusetts Mutual Life Insurance Company (MassMutual) (domiciled in Springfield, MA) and its life/health subsidiaries, C.M. Life Insurance Company and MML Bay State Life Insurance Company (both domiciled in Enfield, CT). Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IR) of “aa-” (Superior) on the existing surplus notes of MassMutual and “aa+” (Superior) on notes issued under the funding agreement-backed securities programs of MassMutual Global Funding, LLC and MassMutual Global Funding II. The outlook of these Credit Ratings (rating) is stable. (See below for a detailed listing of the Long-Term IRs and Short-Term Issue Credit Rating [Short-Term IR].)

The ratings reflect MassMutual’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, very favorable business profile and very strong enterprise risk management (ERM).

MassMutual’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), is assessed as strongest, reflecting the group’s ability to support its business, investment and insurance risks. Capital and surplus has increased due to organic earnings growth and proceeds from the sale of its group retirement business. While AM Best views the group’s investment risk as higher than average primarily related to below investment grade bonds and BA assets, it is managed effectively with good asset liability management capabilities and robust stress testing. MassMutual’s balance sheet is enhanced by strong liquidity capabilities and financial flexibility, and the group’s financial and operating leverage ratios along with interest coverage ratios remain within AM Best guidelines.

The group’s strong operating performance is well-diversified but evolving. Historically, earnings have been derived from its insurance operations, asset management, and majority interests in domestic and international subsidiaries. In recent years, the group has divested of non-core business lines and expanded its strategic investments while making significant investments in technology and digitalization. Going forward, AM Best expects continued improvement in Stat and GAAP operating results, as MassMutual’s earnings are expected to improve over time as its business strategy becomes more focused into higher margined lines of business.

MassMutual is one of the largest and most recognized insurers in the United States with leading market positions in life insurance, fixed and fixed indexed annuities, pensions and institutional asset management. Its business profile has shifted in recent years through the sale of its group retirement business to Empower, an increasing non-majority interest in Rothesay Life, and most recently, the acquisition of Great American Life Insurance Company and its subsidiaries in May 2021. AM Best assesses MassMutual’s ERM program’s capabilities as strong relative to its risk profile and reflects strong liquidity management capabilities and robust stress-testing capabilities utilizing economic capital modeling. On a prospective basis, AM Best expects Mass Mutual to continue to make significant strides in technology and digital innovation across all distribution platforms along with demonstrating continued enhancements to ERM and innovation over time.

The following Short-Term IR has been affirmed:

Massachusetts Mutual Life Insurance Company—

— AMB-1+ (Strongest) on commercial paper program

The following Long-Term IRs have been affirmed with stable outlooks:

Massachusetts Mutual Life Insurance Company—

— “aa-” (Superior) on $250 million 7.625% surplus notes, due 2023

— “aa-” (Superior) on $100 million 7.500% surplus notes, due 2024

— “aa-” (Superior) on $250 million 5.625% surplus notes, due 2033 (of which $193 million remains

outstanding)

— “aa-” (Superior) on $750 million 8.875% surplus notes, due 2039 (of which $130 million remains

outstanding)

— “aa-” (Superior) on $400 million 5.375% surplus notes, due 2041 (of which $263 million remains

outstanding)

— “aa-” (Superior) on $500 million 4.5% surplus notes, due 2065 (of which $258 million remains

outstanding)

— “aa-” (Superior) on $475 million 4.9% surplus notes, due 2077

— “aa-” (Superior) on $838.5 million 3.729% surplus notes, due 2070

— “aa-” (Superior) on $700 million 3.375% surplus notes, due 2050

— “aa-” (Superior) on $800 million 5.077% surplus notes, due 2069

MassMutual Global Funding, LLC—“aa+” (Superior) program rating

MassMutual Global Funding II—“aa+” (Superior) program rating

— “aa+” (Superior) on all outstanding notes issued under the program

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 London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Frank Walko
Financial Analyst
+1 908 439 2200, ext. 5072
frank.walko@ambest.com

Rosemarie Mirabella
Director
+1 908 439 2200, ext. 5892
rosemarie.mirabella@ambest.com

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

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

Categories
Business

Prudential Financial 2020 ESG Report details company transformation

NEWARK, N.J. — (BUSINESS WIRE) — Prudential Financial, Inc. (NYSE: PRU) today released a new environmental, social and governance report, which provides a comprehensive overview of the company’s sustainable actions as well as its progress in achieving them.

The 2020 ESG Report, titled “Transformation,” replaces the company’s annual Sustainability Report, and underscores Prudential’s continued efforts to meet the evolving needs of its customers, employees, shareholders and communities and to fulfill the company’s purpose of solving the financial challenges of our changing world.

Amid the extraordinary events of 2020 and the challenges that persist today, our commitment to sustainable environmental, social and governance practices is more critical than ever before,” said Margaret “Peggy” Foran, chief governance officer and corporate secretary for Prudential Financial. “This ESG Report is another key component of Prudential’s robust disclosure framework, ensuring greater transparency and accountability around our commitments.”

Highlights from the report include:

Environmental

Received an ‘A-’ on the 2020 CDP Climate Change survey, a first in Prudential’s history, surpassing the firm’s goal to achieve and maintain Management-level CDP scores, as outlined in the Global Environmental Commitment.

Social

Committed to providing transparency of our progress to becoming a fully inclusive company, Prudential disclosed representation data by using the standard EEO-1 (equal employment opportunity) format and pay equity data, as well as long-term diversity and inclusion performance targets tied to executive compensation.

Governance

Diversity at Prudential starts with the board, who lead by example with 82% of the company’s independent directors being diverse.

The Report, which covers the period of Jan. 1 to Dec. 31, 2020, is part of a suite of integrated resources and public disclosures on important environmental, social and governance (ESG) topics. These include Prudential’s Proxy Statement, 2020 Annual Report, and first ESG Summary Report, released in March 2021, which detailed newly disclosed EEO-1 and pay equity data.

Prudential’s 2020 ESG Report was organized based on the results of its 2021 Materiality Assessment, an exercise conducted every three years to understand how recent events have affected the state of the world and Prudential’s business.

The ESG Report was prepared in accordance with the Global Reporting Initiative Standards Core option, in support of the Task Force on Climate-related Financial Disclosures (TCFD) and in accordance with the Sustainability Accounting Standards Board’s provisional guidelines for insurance companies.

Visit prudentialesg.com to view Prudential Financial’s 2020 ESG Report, along with previous years’ Sustainability Reports.

About Prudential Financial

Prudential Financial, Inc. (NYSE: PRU), a financial wellness leader and premier active global investment manager with more than $1.5 trillion in assets under management as of March 31, 2021, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help to make lives better by creating financial opportunity for more people. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit news.prudential.com.

Contacts

MEDIA CONTACT: Julie Laskin, (973) 802-3975, julie.laskin@prudential.com

Categories
Business Science

Bristol Myers Squibb receives positive CHMP opinion for Opdivo (nivolumab) as adjuvant treatment for esophageal or gastroesophageal junction cancer patients with residual pathologic disease following chemoradiotherapy

Recommendation based on positive results from the Phase 3 CheckMate -577 trial in which Opdivo doubled disease-free survival compared to placebo in the all-randomized population

If approved, Opdivo could be the first and only adjuvant therapeutic option in the European Union that has shown a significant improvement in disease-free survival for patients in this setting

 

PRINCETON, N.J. —  (BUSINESS WIRE) — $BMY #MEDIABristol Myers Squibb (NYSE: BMY) today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has recommended approval of Opdivo (nivolumab) for the adjuvant treatment of adult patients with esophageal or gastroesophageal junction (GEJ) cancer who have residual pathologic disease following prior neoadjuvant chemoradiotherapy (CRT). The European Commission (EC), which has the authority to approve medicines for the European Union (EU), will now review the CHMP recommendation.

 

For many patients with localized esophageal or gastroesophageal junction cancer, the risk of recurrence is high, even after neoadjuvant chemoradiotherapy and surgery. This leaves patients in need of additional treatment options,” said Ian M. Waxman, M.D., development lead, gastrointestinal cancers, Bristol Myers Squibb. “We believe that the use of immunotherapy in earlier stages of cancer is important because of its potential to prevent recurrence. The CHMP’s positive recommendation for Opdivo as an adjuvant treatment for esophageal or gastroesophageal junction cancer represents a step forward for people living with these cancers as we see the science translate into outcomes.”

 

The positive opinion is based on results from the Phase 3 CheckMate -577 trial which showed that treatment with Opdivo following neoadjuvant CRT and complete surgical resection doubled the primary endpoint of disease-free survival (DFS) compared to placebo in the all-randomized population. The safety profile of Opdivo was consistent with previously reported studies. Results from CheckMate -577 were presented at the 2020 European Society for Medical Oncology (ESMO) Virtual Congress in September 2020 and at the American Society of Clinical Oncology (ASCO) Annual Meeting in June 2021.

 

Opdivo is approved in the United States for the adjuvant treatment of completely resected esophageal or GEJ cancer with residual pathologic disease in patients who have received neoadjuvant CRT.

Bristol Myers Squibb thanks the patients and investigators involved in the CheckMate -577 trial.

 

About CheckMate -577

CheckMate -577 is a Phase 3 randomized, multi-center, double-blind study evaluating Opdivo as an adjuvant therapy in patients with resected esophageal or gastroesophageal junction (GEJ) cancer who have received neoadjuvant chemoradiotherapy (CRT) and have not achieved a pathological complete response. The primary endpoint of the trial is disease-free survival (DFS) and the secondary endpoint is overall survival (OS). Following neoadjuvant CRT and complete tumor surgical resection (also known as trimodality therapy), a total of 794 patients were randomized to receive placebo (n=262) or Opdivo (n=532) 240 mg by intravenous infusion every two weeks for 16 weeks followed by placebo or Opdivo 480 mg every four weeks until disease recurrence, unacceptable toxicity or withdrawal of consent, with a maximum of one-year total treatment duration. Follow up for OS is ongoing.

 

About Esophageal Cancer

Esophageal cancer is the seventh most common cancer and the sixth leading cause of death from cancer worldwide, with approximately 600,000 new cases and over 540,000 deaths in 2020. The two most common types of esophageal cancer are squamous cell carcinoma and adenocarcinoma, which account for approximately 85% and 15% of all esophageal cancers, respectively, though esophageal tumor histology can vary by region with the highest rate of esophageal adenocarcinoma occurring in North America (65%).

 

About Gastric Cancer

Gastric cancer, also known as stomach cancer, is the fifth most common cancer and the third leading cause of cancer death worldwide, with over 1,000,000 new cases and approximately 770,000 deaths in 2020. There are several cancers that can be classified as gastric cancer, including certain types of cancers that form in the GEJ, the area of the digestive tract where the esophagus and stomach connect. While GEJ cancer has a lower prevalence than distal gastric cancer, it continues to rise.

 

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

 

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

 

OPDIVO® (nivolumab), in combination with cabozantinib, is indicated for the first-line treatment of patients with advanced renal cell carcinoma (RCC).

 

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

 

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.

 

OPDIVO® (nivolumab) is indicated for the adjuvant treatment of completely resected esophageal or gastroesophageal junction cancer with residual pathologic disease in patients who have received neoadjuvant chemoradiotherapy (CRT).

 

OPDIVO® (nivolumab), in combination with fluoropyrimidine- and platinum-containing chemotherapy, is indicated for the treatment of patients with advanced or metastatic gastric cancer, gastroesophageal junction cancer, and esophageal adenocarcinoma.

 

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 patients receiving OPDIVO 1 mg/kg with YERVOY 3 mg/kg every 3 weeks, immune-mediated pneumonitis occurred in 7% (31/456) of patients, including Grade 4 (0.2%), Grade 3 (2.0%), and Grade 2 (4.4%). 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.

 

In Checkmate 205 and 039, pneumonitis, including interstitial lung disease, occurred in 6.0% (16/266) of patients receiving OPDIVO. Immune-mediated pneumonitis occurred in 4.9% (13/266) of patients receiving OPDIVO, including Grade 3 (n=1) and Grade 2 (n=12).

 

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%).

 

Immune-Mediated Hepatitis and Hepatotoxicity

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 monotherapy in Checkmate 040, immune-mediated hepatitis requiring systemic corticosteroids occurred in 5% (8/154) of patients. 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%).

 

OPDIVO in combination with cabozantinib can cause hepatic toxicity with higher frequencies of Grade 3 and 4 ALT and AST elevations compared to OPDIVO alone. Consider more frequent monitoring of liver enzymes as compared to when the drugs are administered as single agents. In patients receiving OPDIVO and cabozantinib, Grades 3 and 4 increased ALT or AST were seen in 11% of patients.

 

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 and cabozantinib, adrenal insufficiency occurred in 4.7% (15/320) of patients, including Grade 3 (2.2%) and Grade 2 (1.9%).

 

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%).

 

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. Topical emollients and/or topical corticosteroids may be adequate to treat mild to moderate nonexfoliative rashes.

 

YERVOY can cause immune-mediated rash or dermatitis, including bullous and exfoliative dermatitis, SJS, TEN, and DRESS. Topical emollients and/or topical corticosteroids may be adequate to treat mild to moderate non-bullous/ exfoliative rashes.

 

Withhold or permanently discontinue OPDIVO and YERVOY depending on severity (please see section 2 Dosage and Administration in the accompanying Full Prescribing Information).

Contacts

Bristol Myers Squibb

Media Inquiries:
Media@BMS.com

Investors:
Tim Power

609-252-7509

timothy.power@bms.com

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Categories
Business Technology

AECOM to provide program management services for New Jersey Turnpike Interchange 1 to 4 Widening Program

 

LOS ANGELES — (BUSINESS WIRE) — AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, recently announced that it has been selected to provide program management services for the New Jersey Turnpike Authority’s $1.1 billion Interchange 1 to 4 Widening Program. AECOM will provide program management, preliminary engineering, and environmental services for the project’s permitting, design, and construction phases.

 

We look forward to continuing to build upon our successful working relationship with the New Jersey Turnpike Authority and draw upon our experience managing large, complex capital programs, including our previous work on the Authority’s Interchange 6 to 9 Widening Program,” said Dan Faust, chief executive of AECOM’s U.S. East region. “Acting as an extension of the Authority, we intend to manage the program efficiently and transparently, utilizing our vast global resources and innovative tools to achieve the Authority’s vision.”

 

The Interchange 1 to 4 Widening Program is intended to increase mainline capacity and expand interchange operations over a 36.5 mile stretch of the New Jersey Turnpike, decreasing congestion and improving environmental conditions throughout the corridor. AECOM’s role encompasses program administration, including the development of systems and controls to facilitate timely delivery; coordination and communication with stakeholders, including regulatory agencies, project partners, and the community; conceptual and preliminary design, including surveys and mapping, traffic analysis, stormwater management, and procurement assistance; and environmental services, including studies, investigations, and permitting for the program.

 

We’re incredibly proud to support the New Jersey Turnpike Authority and play a role in delivering the largest capital program in its history in support of its mission to provide the highest quality of life for New Jerseyans,” said Drew Jeter, chief executive of AECOM’s global Program Management business. “As the NJTP’s program management consultant, our role in this important project brings together leading technical experts across our business to match the expectations of the Authority. The New Jersey Turnpike is a critical component to the economic vitality and environmental sustainability of the state, and we’re excited to bring forward the best of AECOM to help the Authority meet current and future demand.”

 

In addition to increasing mobility, the Interchange 1 to 4 Widening Program provides the Authority the opportunity to make further improvements, such as replacing overhead structures, upgrading signage, enhancing highway safety, updating data collection, and advancing stormwater management practices in accordance with new infrastructure requirements.

 

About AECOM

AECOM (NYSE: ACM) is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical expertise and innovation, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.2 billion in fiscal year 2020. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.

 

Forward-Looking Statements

All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, coronavirus impacts, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; impacts caused by the coronavirus and the related economic instability and market volatility, including the reaction of governments to the coronavirus, including any prolonged period of travel, commercial or other similar restrictions, the delay in commencement, or temporary or permanent halting of construction, infrastructure or other projects, requirements that we remove our employees or personnel from the field for their protection, and delays or reductions in planned initiatives by our governmental or commercial clients or potential clients; losses under fixed-price contracts; limited control over operations run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; high leverage and potential inability to service our debt and guarantees; exposure to Brexit; exposure to political and economic risks in different countries; currency exchange rate fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital real estate development projects; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of the Power transaction and other recent acquisitions and divestitures, including the risk that the expected benefits of such transactions or any contingent purchase price will not be realized within the expected time frame, in full or at all; the risk that costs of restructuring transactions and other costs incurred in connection with recent acquisitions and divestitures will exceed our estimates or otherwise adversely affect our business or operations; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.

Contacts

Media Contact:
Brendan Ranson-Walsh

Vice President, Global Communications & Corporate Responsibility

1.213.996.2367

Brendan.Ranson-Walsh@aecom.com

Investor Contact:

Will Gabrielski

Senior Vice President, Finance & Investor Relations

1.213.593.8208

William.Gabrielski@aecom.com

Categories
Business Science

Eagle Pharmaceuticals announces FDA maintains prioritization of ANDA for vasopressin

— Assigned GDUFA date of December 15, 2021, and expects commercial launch prior to year-end —

 

 

WOODCLIFF LAKE, N.J.–(BUSINESS WIRE)–Eagle Pharmaceuticals, Inc. (Nasdaq: EGRX) (“Eagle” or the “Company”) today announced that the U.S. Food and Drug and Administration (“FDA”) has maintained Priority Review for the Company’s Abbreviated New Drug Application (“ANDA”) for vasopressin. The Company’s response to the CRL was submitted on June 15, 2021. The FDA has assigned a GDUFA date of December 15, 2021, and the Company expects a commercial launch prior to year-end.

“Vasopressin is an important program for us, and in light of the Priority Review, as well as its being flagged as a COVID priority, we continue to believe that we can bring this product to market this year. The trial is set to commence on July 7, and we look forward to providing updates in the near future,” stated Scott Tarriff, Chief Executive Officer of Eagle Pharmaceuticals.

Eagle is first to file an ANDA referencing Vasostrict, which had total U.S. sales of $786 million in 2020.

 

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 statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and other securities law. 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 concerning the Company’s ability to address the questions raised in the CRL for its ANDA for vasopressin and to communicate with FDA regarding the same; the Company’s ability to obtain and maintain regulatory approval of its products and product candidates, including vasopressin; the timing, progress and results of the Company’s clinical trials, including potential timing of commercial launch of vasopressin; and the ability of the Company’s product candidates, including vasopressin, to deliver value to stockholders. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the Company’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. Such risks and uncertainties include, but are not limited to: the impacts of the ongoing COVID-19 pandemic, including interruptions or other adverse effects on clinical trials and delays in regulatory review or further disruption or delay of any pending or future litigation; delay in or failure to obtain regulatory approval of the Company’s product candidates and successful compliance with FDA and other governmental regulations applicable to product approvals; whether the Company will successfully implement its development plan for its product candidates; whether the Company can successfully market and commercialize its product candidates; the outcome of litigation involving any of its products or that may have an impact on any of its products; the strength and enforceability of the Company’s intellectual property rights or the rights of third parties; the risks inherent in drug development and in conducting clinical trials; and those risks and uncertainties identified in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 filed with the Securities and Exchange Commission (the “SEC”) on March 5, 2021, as updated by the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, filed with the SEC on May 10, 2021, and its other subsequent filings with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Contacts

Investor Relations for Eagle Pharmaceuticals, Inc.:
Lisa M. Wilson

In-Site Communications, Inc.

T: 212-452-2793

E: lwilson@insitecony.com

Categories
Business

Marotta Controls adds additive manufacturing to expanding list of capabilities

Aerospace and Defense Supplier Uses Patented Method to Produce 3D-printed Manifold Valve

MONTVILLE, N.J. — (BUSINESS WIRE) — #3DprintingMarotta Controls, a rapidly growing aerospace and defense supplier based in New Jersey, today announced the successful integration of additive manufacturing (AM) into its portfolio of services. The company validated the capability’s viability by using its now patented method to create internal features of an advanced manifold valve. The selective laser sintering (SLS) design technique generated nuanced radial passages in various geometries not possible to achieve via traditional machine boring methods. Given this, the new manifold valve delivered increased velocity pressure control.


Marotta also confirmed that it is incorporating AM to reduce parts, simplify assembly and shorten lead times to deliver lower cost, higher performing products.

“We have a near 80-year culture of creative thinking, of challenging the status quo,” said Brian Fly, Vice President Marine Systems, Marotta Controls. “And we’re proud to confirm that that mindset resulted in a remarkable evolution to a tried and true part used for generations. Additive manufacturing offers some very interesting opportunities that we’re inherently designed to embrace on behalf of our customers. We anticipate more unique, disruptive innovations to come out of this capability as we continue to apply it.”

Additive manufacturing has long been touted across many industries as a smart way to accelerate the supply chain, initially used as a rapid tooling solution for custom injection mold creation and the like. Notably, a 2020 market report by Mordor Intelligence forecasted that the aerospace and defense market’s use of 3D printing will experience a 20 percent CAGR by 2025. This trend will only likely increase as military standards continue to adapt not just to the manufacturing process itself, but to the use of the necessary composite materials, too.

Proof of Concept: The Manifold Valve

Marotta Controls first came into existence troubleshooting valve designs that, despite being accepted as proven parts, continued to leak in end applications. The company ultimately fixed these issue and others, establishing itself as a go-to engineering shop capable of solving difficult problems. Which is why the company took on the challenge of improving the manifold’s performance in high pressure applications—a problem that required re-evaluating how and where best to apply Bernoulli’s equation within the system’s design.

Early manifold iterations saw performance increases driven by the introduction of new materials, chamber reconfigurations, and other mechanical adaptations. These solutions launched new product lines for Marotta that were customizable to a wide range of standards for military as well as commercial applications. However, the company still saw additional areas for innovation.

Valves and manifolds are historically produced via subtractive machining, with boring tools removing unwanted material to construct their radial passages within a single metal block. The radial passages are typically cylindrical or slightly frustoconical in nature. This design approach allows for passages that expand in two dimensions. By introducing a third dimension through AM, however, Marotta has improved those passage features to achieve desired performance.

Marotta’s patented approach starts with a 3D CAD model of choice that can meet varying ranges of end application specifications. Via the SLS machine, powdered metal is fused together layer by layer to construct a solid, single-pieced component with three-dimensional passage structures that can vary in shape—diamond, horizontal dome, spindle, branch-like, and others.

Marotta has evaluated its 3D valve concept in more than a dozen design configurations, with the passage structures varying. Velocity improvements are notable as is the part’s impact on the overall manifold’s production and performance.

For more information on how Marotta can help solve design challenges, visit www.marotta.com.

About Marotta Controls

Founded in 1943, Marotta Controls is a fully-integrated solutions provider which designs, develops, qualifies and manufactures innovative systems and sub-systems for the aerospace and defense sectors. Our portfolio includes pressure, power, motion, fluid, and electronic controls for tactical systems, shipboard and sub-sea applications, satellites, launch vehicles, and aircraft systems. With over 200 patents, Marotta Controls continues to build on its legacy as a highly respected, family-owned small business based in the state of New Jersey. Twitter: @marottacontrols LinkedIn: Marotta Controls, Inc.

Contacts

Heather Ailara

211 Communications

+1.973.567.6040

heather@211comms.com

Katee Glass

Marotta Controls, Inc.

kglass@marotta.com

Categories
Business

Best’s Special Report: U.S. Insurers increased holdings in private equity by 15% in 2020

OLDWICK, N.J. — (BUSINESS WIRE) — Private equity holdings by the U.S. insurance industry grew by 14.8% in 2020, with the life/annuity insurance industry seeing its highest value in five years, at $71.7 billion, according to a new AM Best report.

The Best’s Special Report, “Private Equity Investments Still Attractive to US Insurers,” states that U.S. property/casualty insurers also increased the book-adjusted/carrying value of their holdings by 11.3% in 2020, to $18.7 billion. Health insurers’ private equity investments declined slightly, but these insurers account for only 3% of the industry’s total holdings. Overall, the total number of private equity investments among the overall U.S. insurance industry grew for a seventh straight year, with insurers seeing the market value of those investments rising to a total of $93.3 billion, a 15% year-over-year increase. Given the high levels of unpredictability in public markets, private equity investments give investors the opportunity to achieve higher returns and diversify their portfolios.

Leveraged buyout funds remain the most common type of insurers’ private equity investments, making up over half of the industry’s holdings. Venture capital funds, which make up slightly over 25% of the industry’s exposure, increased in all three market segments, with mezzanine financing making up the remainder.

Although the private equity market performed favorably in 2020, it was not spared the challenges the year brought due to the pandemic. “Fund managers likely struggled to accurately value companies because of instability in the market, especially in the second quarter when the pandemic first hit,” said Jason Hopper, associate director, industry research and analytics, AM Best. “Second-half 2020 results were more encouraging, but large investment deals were still influenced by the loss.”

The 20 insurers with the largest valuations in private equity investments—a majority of them life/annuity insurers—account for approximately 72% of the industry’s holdings. These 20 insurers increased their exposure by 15%, or $10 billion, in 2020 from the prior year. Private equity investment exposure to capital and surplus for these 20 insurers varies, but averaged 24% of capital and surplus.

Signs supporting continued growth in the private equity market over the long term are positive, owing to low interest rates, mild inflationary environments and the prospects for higher investment yields. However, AM Best notes that financial stress in the markets or severe public market corrections remain a risk.

To access the full copy of this report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=309905.

For a video discussion about this report with Hopper and Lauren Magro, associate analyst, industry research and analytics, please go to http://www.ambest.com/v.asp?v=ambprivateequity621.

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 London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Lauren Magro
Associate Analyst, Industry Research
and Analytics
+1 908 439 2200, ext. 5181
lauren.magro@ambest.com

Jason Hopper
Associate Director, Industry Research
and Analytics
+1 908 439 2200, ext. 5016
jason.hopper@ambest.com

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

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

Categories
Business

Overtime selects Ruby Has Fulfillment for the brand’s e-commerce initiatives

Company backed by Jeff Bezos, Drake and 25+ NBA stars will leverage Ruby Has for apparel and consumer products

 

 

BAY SHORE, N.Y. — (BUSINESS WIRE) — Ruby Has Fulfillment, the leading international hyper-growth e-commerce fulfillment company, announced today that it will provide logistics and fulfillment services for the apparel and consumer products division of Overtime, the next generation sports brand. Overtime has a community of more than 50 million followers that generates 1.5 billion video views each month.


Earlier this year, Overtime launched Overtime Elite (OTE), a transformative new sports league that offers a year-round development program for high-school basketball players. The company recently raised $80 million in Series C funding from a diverse group of investors. Overtime plans to further fuel its fast growing commerce business and deepen its connection with young consumers with the launch of OTE’s inaugural season this September.

“In just four years, Overtime has become synonymous with sports and culture for a new generation of athletes and fans, with an audience of more than 50 million social media followers,” said Tyler Rutstein, Overtime’s Vice President and General Merchandise Manager.

Rutstein added, “Overtime’s apparel is bold, approachable and highly connected through our content to what our audience loves. We’ve been empowering young athletes both digitally and through our lifestyle and apparel offerings. We are thrilled to work with Ruby Has as our fulfillment provider to bring these products to sports enthusiasts everywhere.”

“We are proud to provide e-commerce fulfillment solutions for Overtime’s innovative DTC apparel and consumer products brand,” says Esther Kestenbaum Prozan, president of Ruby Has. “Supporting premium brands that are scaling through hyper-growth while delivering on their brand promises with precision are the hallmarks of Ruby Has.”

About Ruby Has Fulfillment

Ruby Has is one of the fastest growing e-commerce fulfillment providers (ranked by Crain’s Fast 50 since 2018 and Inc. 5000 for five consecutive years) for direct-to-consumer brands and retailers. Ruby Has Fulfillment leads the 3PL industry with cutting-edge technology, seamless integration, and an uncompromising commitment to quality. With distribution center locations in New York, New Jersey, California, Nevada, Kentucky and Ontario, Canada, Ruby Has provides a strategically located international footprint of fulfillment solutions, with faster shipments and reduced costs. For more information, visit rubyhas.com.

About Overtime

Overtime is the leading brand for the next generation of sports fans. In just four years, Overtime has built a community of over 50 million followers. The brand spans multiple verticals including basketball, football, soccer, gaming, sneakers, and business units including content, e-commerce, and owned leagues.

Based in NYC, Overtime is funded by top VC firms, industry leaders, and athletes, including Andreessen Horowitz, Spark Capital, Sapphire Sport, Bezos Expeditions (the personal investment company of Jeff Bezos), Micromanagement Ventures (the family of the late David Stern), Black Capital, Morgan Stanley Counterpoint Global, Blackstone Strategic Partners, PROOF, Gaingels, Alexis Ohanian, Drake, and 30+ NBA stars including Carmelo Anthony and Kevin Durant.

Contacts

Ali Finer

Ruby Has

ali@rubyhas.com
612-209-4575

Categories
Business Technology

AM Best to host Webinar on how Auto Insurers are Leveraging Market Disruptions Accelerated by COVID-19

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best will host a complimentary webinar titled, “How Auto Insurers Are Leveraging Market Disruptions Accelerated by COVID-19,” sponsored by LexisNexis® Risk Solutions, on Wednesday, July 14, 2021, at 2 p.m. (EDT).

Almost every segment of society, including the U.S. auto insurance industry, was impacted by COVID-19’s far-reaching and substantial consequences. From trends in auto insurance shopping to claims to driving behavior patterns and policy renewal cycles, everything was, and in some cases, is still being disrupted. In a one-hour webinar, a panel of insurance professionals will explore actionable insights that can help your organization make the best decisions―now and in the future.

Register now: www.ambest.com/webinars/auto21.

Panelists include:

  • Adam Pichon, vice president & general manager, Auto Insurance Vertical, LexisNexis Risk Solutions;
  • Bill Brower, vice president & head, U.S. Auto Claims Strategy, LexisNexis Risk Solutions; and
  • Tanner Sheehan, associate vice president, Auto Vertical, LexisNexis Risk Solutions.

Attendees can submit questions during registration or by emailing webinars@ambest.com. The event will be streamed in video and audio formats, and playback will be available to registered viewers shortly after the event.

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 London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 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

NICE Actimize SURVEIL-X named ‘Best Regulatory Alert Management Solution’ in 2021 Europe RegTech Insight Awards

The NICE SURVEIL-X cloud-based surveillance solution was recognized for its strengths in managing regulatory alerts and its ability to analyze and correlate data

 

HOBOKEN, N.J. — (BUSINESS WIRE) — #NICENICE Actimize (Nasdaq: NICE) was named the category winner for “Best Regulatory Alert Management Solution” in A-Team Group’s 2021 Europe RegTech Insight Awards marking its fourth consecutive yearly win across this awards competition. Following its shortlisting by a panel of judges, NICE Actimize and its SURVEIL-X Holistic Conduct Surveillance solutions suite, and the recently announced NICE NTR-X Communication Recording and Compliance Assurance solution, were the recipients of the most online votes in the category derived from reader/online nominations from within the RegTech Insight community and verified by A-Team Group editors and its RegTech advisory board.

The NICE SURVEIL-X Holistic Conduct Surveillance platform analyzes and correlates all trade related data, and provides comprehensive surveillance coverage for all regulatory needs. Additionally, the platform breaks down barriers between data silos enabling deeper analysis and true risk detection. SURVEIL-X also can connect to, ingest and analyze data from many real-time data sources, including all forms of communications.

 

Joining NICE SURVEIL-X and expanding on its capabilities, is the recently launched NTR-X communication recording solution which offers built-in compliance assurance capabilities to help firms reduce compliance risk and improve responsiveness to regulators by automating the complete lifecycle management of data. NTR-X automates recording checks and provisioning of users (moves, adds and changes); transcription (offered as a cloud-based service); bulk call extraction; system management and administration; compliance assurance reporting; tracking and managing legal holds; and the requirement to provide evidence of compliance to regulators.

 

Chris Wooten, Executive Vice President, NICE, stated, “As we continue to innovate with expanded cloud delivery, automated compliance assurance and further automation throughout the complete lifecycle management of data, NICE will continue to work closely with our customers to optimize operations and lower costs while meeting the demands of the changing regulatory landscape.”

 

Continued Wooten, “By voting for our capabilities, the industry has demonstrated confidence in our ability to support a wide range of regulatory demands with the industry’s most complete end-to-end compliance capabilities from capture and archive functionality through to our true holistic, cloud-native markets surveillance portfolio. We thank the readers of A-Team Group’s RegTech Insight, along with our customers, for their support.”

 

“We are delighted that our cross-platform readership of more than 20,000 senior technology officers and data specialists selected NICE’s SURVEIL-X Holistic Surveillance solution suite as the Best Regulatory Alert Management solution within a competitive field. Once again, we congratulate NICE on its prestigious RegTech Insight Award win,” said Angela Wilbraham, CEO of A-Team Group, which manages the RegTech Insight Awards competition.

 

With this year’s competition, the 2021 RegTech Insight Awards acknowledged leading technologies and vendors in an expanded range of regulatory technology categories. The RegTech Awards evaluation criteria for shortlisting considered the depth of involvement in capital markets, relevance of a solution or service to a selected award category, and the potential interest of a solution or service to the publications’ RegTech community.

 

To learn more about NICE SURVEIL-X and its complete holistic compliance platform, please click here.

 

For more information on NTR-X, NICE’s next-generation communication recording and compliance assurance, please click here.

 

About NICE Actimize

NICE Actimize is the largest and broadest provider of financial crime, risk and compliance solutions for regional and global financial institutions, as well as government regulators. Consistently ranked as number one in the space, NICE Actimize experts apply innovative technology to protect institutions and safeguard consumers’ and investors’ assets by identifying financial crime, preventing fraud and providing regulatory compliance. The company provides real-time, cross-channel fraud prevention, anti-money laundering detection, and trading surveillance solutions that address such concerns as payment fraud, cybercrime, sanctions monitoring, market abuse, customer due diligence and insider trading. Find us at www.niceactimize.com, @NICE_Actimize or Nasdaq: NICE.

 

About NICE

NICE (Nasdaq: NICE) is the world’s leading provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions. www.nice.com.

Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE’s marks, please see: www.nice.com/nice-trademarks.

 

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Wooten, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the “Company”). In some cases, such forward-looking statements can be identified by terms such as “believe,” “expect,” “seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,” “plan,” “estimate,” or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions, including as a result of the COVID-19 pandemic; competition; successful execution of the Company’s growth strategy; success and growth of the Company’s cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company’s products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners; cyber security attacks or other security breaches against the Company; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company’s reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.

Contacts

Corporate Media Contact:

Cindy Morgan-Olson, +1-646-408-5896, ET

cindy.morgan-olson@niceactimize.com

Investors:

Marty Cohen, +1 551 256 5354, ET

ir@nice.com

Omri Arens, +972 3 763 0127, CET

ir@nice.com