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Phibro Animal Health Corporation to host webcast and conference call on second quarter results

TEANECK, N.J. — (BUSINESS WIRE) — Phibro Animal Health Corporation (Nasdaq: PAHC) expects to announce its second quarter financial results on Wednesday, Feb. 7, 2024, after the market closes. Phibro management will host a conference call and webcast on Thursday, Feb. 8, 2024, at 9 a.m. ET.

 

Interested parties are invited to listen to the conference call and view the presentation slides by visiting https://investors.pahc.com. The discussion will also be available by dialing +1 (888) 330-2022 in the U.S. and Canada, or +1 (365) 977-0051 for international callers. Provide the conference ID 3927884.

 

A replay of the webcast will be available approximately two hours after the conclusion of the live event. To access the webcast recording, visit https://investors.pahc.com.

 

About Phibro Animal Health Corporation

Phibro Animal Health Corporation is a leading global diversified animal health and mineral nutrition company. We strive to be a trusted partner with livestock producers, farmers, veterinarians, and consumers who raise or care for farm and companion animals by providing solutions to help them maintain and enhance the health of their animals. For further information, please visit www.pahc.com.

 

Our filings with the Securities and Exchange Commission are available online at www.sec.gov, www.pahc.com or on request from the company.

Contacts

Richard Johnson

Chief Financial Officer, Phibro Animal Health Corporation

+1-201-329-7300

investor.relations@pahc.com

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CitiusTech named a Leader and a Star Performer in Everest Group’s Payer Digital Services PEAK Matrix® Assessment 2023

PRINCETON, N.J. — (BUSINESS WIRE) — #AICitiusTech, a leading provider of healthcare technology services, solutions, and platforms, announced that it has been positioned as a Leader and a Star Performer in the Everest Group’s Payer Digital Services PEAK Matrix® Assessment for 2023.

 

 

The report analyzed 32 leading healthcare IT service providers on capabilities in healthcare payer digital services and market impact. It focused on payer digital services market size and growth, digital services themes for healthcare payers, assessment of the service providers on several capabilities and market success-related dimensions, and Everest Group’s independent remarks on service providers.

 

“It is with great pride that we announce our designation as both a Leader and a Star Performer within the Everest Group’s Healthcare Payer Digital Services PEAK Matrix. Healthcare Payers currently navigate a myriad of substantial challenges, ranging from traditional issues such as labor intensity, isolated solutions, accrued technological deficits, to modern challenges such as Medicare Advantage business models, vertical integration, interoperability, value-based care, and AI, among others. This accolade underscores our continued disruption in the Payer Digital Services sector over the last six years since forming the unit and affirms our commitment to enhancing value to our clients in these multi-faceted domains,” said Shyam Karunakaran, EVP – Health Plans, CitiusTech.

 

“With the healthcare industry undergoing significant changes, payers are adopting digital technologies such as AI, cloud, and analytics to enhance their business outcomes,” stated Priya Sahni, Practice Director, Everest Group. “With its comprehensive range of offerings throughout the value chain, CitiusTech has empowered its clients to achieve operational efficiency and cost-effectiveness. The company’s profound domain expertise, high-quality talent pool, and strategic acquisitions and partnerships (e.g., OutSystems, Databricks) aimed at enhancing its capabilities have led to its positioning as a Leader and a Star Performer in Everest Group’s Healthcare Payer Digital Services PEAK Matrix® Assessment for 2023.”

 

As per the report, CitiusTech has demonstrated considerable year-on-year (YoY) growth in payer digital services revenue, driven by engagements with mid-sized and large payer accounts. Its domain and technical expertise, and innovative price constructs have led to high client satisfaction. The report also notes that CitiusTech has made significant investments to augment its digital capabilities in the areas of big data and cloud; and launched a cloud platform, Perform+ Datascale, to increase interoperability and streaming of data exchanges. The company’s other proprietary solutions include PERFORM+ Contracts, PERFORM+ Stars, PERFORM+ Regulatory, MRFEngine, and RealSight.

 

Everest Group’s Payer Digital Services PEAK Matrix® assessment report notes that providers are forging industry-specific partnerships and acquiring relevant companies to support enterprises on their digital transformation journeys. This has driven the need for research and market intelligence on demand and supply trends in healthcare payer digital services. Everest Group’s healthcare ITS research program addresses this market need by analyzing demand themes and service provider capabilities in healthcare payer digital services.

 

More recently, CitiusTech has a generative AI Centre of Excellence that helps healthcare clients adopt and scale gen AI and solve complex problems of service delivery, operations, and customer business transformation for health plans. The company’s internal crowd-sourced initiative, Innovation for Accelerated Growth (IAG 2.0) aims at nurturing innovation across themes such as predictive analytics, population health, generative AI, interoperability, quality management and IoT. The strategic acquisition of industry-leading, healthcare-focused Salesforce services and solutions company, Wilco Source, expands CitiusTech’s Salesforce offerings in the areas of member experience, care management, digital front door, and patient services.

 

To know more about CitiusTech’s Payer Digital Services offerings, please visit Health Plans.

 

A complimentary custom copy of the report can be found here.

 

About CitiusTech

CitiusTech is a leading provider of digital technology and consulting services to payer, provider, medical technology, and life sciences companies. With over 8,500 healthcare technology professionals worldwide, CitiusTech powers healthcare digital innovation, business transformation and industry-wide convergence for over 140 organizations, through next-generation technologies, solutions, and products. Key focus areas include healthcare interoperability, secure data management, quality and performance analytics, real world data, clinical research optimization, virtual trials, value-based care, patient experience, medical imaging, connected health, payer-provider convergence, care coordination and population health management. CitiusTech’s cutting-edge technology expertise, deep healthcare domain expertise and a strong focus on digital transformation enables healthcare and life sciences companies to reinvent themselves to deliver better outcomes, accelerate growth, drive efficiencies, and ultimately make a meaningful impact to patients. Follow CitiusTech on Twitter or LinkedIn.

Contacts

Saviera Barretto Saviera.Barretto@citiustech.com

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Business Economics Lifestyle Perks Regulations & Security

Best’s Special Report: US annuity surrenders up through 3Q/2023, edging out premium growth

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance — The value of surrendered annuity policies increased 18% through the third quarter of 2023, compared with the same prior-year period, according to a new AM Best report. However, premium growth held steady at 17% through the same period, with individual annuity premiums notching its 11th consecutive quarter of year-over-year growth.

In its Best’s Special Report, titled, “Annuity Surrenders Up Through 3Q23, Beating Premium Growth,” AM Best notes that rising interest rates, which the life insurance segment has not seen in decades, have generated the prospect of disintermediation risk.

 

“Runoff annuity insurance companies or those that focus on block acquisitions rather than organic growth and can’t replace the business being surrendered are most likely to experience a shrinking asset base,” said Jason Hopper, associate director, AM Best. “It’s possible that maturing bonds may need to be used to cover additional surrenders instead of being reinvested.”

 

Surrender benefits topped $100 billion in fourth-quarter 2022, as well as second-quarter 2023, compared with an average of $86 billion over the previous 15 quarters, according to the report. Surrenders in the second and third quarters of 2022 were among the lowest in four years, due partly to a $4 billion reinsurance transaction by Fortitude Re.

 

However, surrender values paid as a percentage of premium are among the lowest levels they’ve been since at least 2019, reflecting strong premium growth. Surrender charges are used to dissuade policyholders from taking this cash-out option, using a time period under which a fee can be charged on a percentage of the account value if surrendered early.

 

“The life/annuity industry is less concerned about surrenders once policies leave the surrender charge period, as assets purchased to back the liability are typically matched to the surrender charge period, and insurers will typically drop the crediting rate on policies once that period has expired,” Hopper said. “However, insurers want to retain customers and have them reinvest in new, current product offerings, which starts the surrender charge period over again. This helps transfer capital from fully liquid liabilities to new, potentially longer-duration policies.”

 

The analysis in the report also shows that the ratio of premiums to surrender benefits has been more steady for larger annuity writers over the last four years compared to medium and smaller-sized organizations, but have less of a cushion should surrenders materially tick up without the correlating premium growth. In a higher for longer interest rate environment, the annuity market will remain highly competitive, as many new companies have entered the space, including several new private equity and asset management-backed insurers, adding capacity to the market and strong sales of multi-year guaranteed annuities.

 

To access the full copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=339562.

 

To view a video with AM Best Associate Director Jason Hopper on this report, please visit http://www.ambest.com/v.asp?v=ambannuitysurrenders124&AltSrc=182 .

 

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 © 2024 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Jason Hopper
Associate Director,
Industry Research & Analytics
+1 908 882 1896
jason.hopper@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

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Business Government Healthcare Lifestyle Science

FDA approves Merck’s KEYTRUDA® (pembrolizumab) plus chemoradiotherapy as treatment for patients with FIGO 2014 Stage III-IVA cervical cancer

KEYTRUDA is the first and only anti-PD-1 therapy approved in combination with chemoradiotherapy for these patients

Approval marks third FDA-approved indication for KEYTRUDA in cervical cancer and 39th indication for KEYTRUDA in the US

 

 

RAHWAY, N.J. — (BUSINESS WIRE) — $MRK #MRK — Merck (NYSE: MRK), known as MSD outside of the United States and Canada, on Monday announced the U.S. Food and Drug Administration (FDA) has approved KEYTRUDA, Merck’s anti-PD-1 therapy, in combination with chemoradiotherapy (CRT) for the treatment of patients with FIGO (International Federation of Gynecology and Obstetrics) 2014 Stage III-IVA cervical cancer.

 

The approval is based on data from the Phase 3 KEYNOTE-A18 trial, in which KEYTRUDA plus CRT demonstrated an improvement in progression-free survival (PFS), reducing the risk of disease progression or death by 41% (HR=0.59 [95% CI, 0.43-0.82]) compared to placebo plus CRT in patients with FIGO 2014 Stage III-IVA disease. Median PFS was not reached in either group. This approval marks the third indication for KEYTRUDA in cervical cancer and the 39th indication for KEYTRUDA in the U.S.

 

“Today’s approval of KEYTRUDA plus chemoradiotherapy is welcome news and gives patients with newly diagnosed FIGO 2014 Stage III-IVA cervical cancer, for the first time ever, the option of an anti-PD-1-based regimen to treat their cancer,” said Dr. Bradley Monk, oncologist and professor of obstetrics and gynecology at University of Arizona’s College of Medicine and Creighton University School of Medicine. “This KEYTRUDA-based regimen offers a new treatment option for these patients, so today’s approval has important implications for the way we treat them moving forward.”

 

Immune-mediated adverse reactions, which may be severe or fatal, can occur in any organ system or tissue and can affect more than one body system simultaneously. Immune-mediated adverse reactions can occur at any time during or after treatment with KEYTRUDA, including pneumonitis, colitis, hepatitis, endocrinopathies, nephritis, dermatologic reactions, solid organ transplant rejection, and complications of allogeneic hematopoietic stem cell transplantation. Important immune-mediated adverse reactions listed here may not include all possible severe and fatal immune-mediated adverse reactions. Early identification and management of immune-mediated adverse reactions are essential to ensure safe use of KEYTRUDA. Based on the severity of the adverse reaction, KEYTRUDA should be withheld or permanently discontinued and corticosteroids administered if appropriate. KEYTRUDA can also cause severe or life-threatening infusion-related reactions. Based on its mechanism of action, KEYTRUDA can cause fetal harm when administered to a pregnant woman. For more information, see “Selected Important Safety Information” below.

 

“Building on the established role of KEYTRUDA in advanced cervical cancer, KEYTRUDA plus chemoradiotherapy is now the first anti-PD-1-based regimen approved in the U.S. for the treatment of patients with FIGO 2014 Stage III-IVA cervical cancer regardless of PD-L1 expression,” said Dr. Gursel Aktan, vice president, global clinical development, Merck Research Laboratories. “This approval provides newly diagnosed patients with an anti-PD-1-based treatment option that has the potential to reduce the risk of disease progression or death compared to chemoradiotherapy alone.”

 

In the U.S., KEYTRUDA has two additional approved indications in cervical cancer: in combination with chemotherapy, with or without bevacizumab, for the treatment of patients with persistent, recurrent, or metastatic cervical cancer whose tumors express PD-L1 (Combined Positive Score [CPS] ≥1) as determined by an FDA-approved test; and as a single agent 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.

 

Study design and additional data supporting the approval

KEYNOTE-A18, also known as ENGOT-cx11/GOG-3047, is a multicenter, randomized, double-blind, placebo-controlled Phase 3 trial (ClinicalTrials.gov, NCT04221945) sponsored by Merck and conducted in collaboration with the European Network for Gynaecological Oncological Trial (ENGOT) groups and the GOG Foundation, Inc. (GOG) investigating KEYTRUDA in combination with CRT (cisplatin and external beam radiotherapy [EBRT] followed by brachytherapy [BT]). The trial enrolled 1,060 patients with cervical cancer who had not previously received any definitive surgery, radiation, or systemic therapy for cervical cancer. There were 596 patients with FIGO 2014 Stage III-IVA cervical cancer (tumor involvement of the lower vagina with or without extension onto pelvic sidewall or hydronephrosis/non-functioning kidney or has spread to adjacent pelvic organs) with either node-positive or node-negative disease, and 462 patients with FIGO 2014 Stage IB2-IIB cervical cancer (tumor lesions >4 cm or clinically visible lesions that have spread beyond the uterus but have not extended onto the pelvic wall or to the lower third of vagina) with node-positive disease; two patients had FIGO 2014 Stage IVB disease. Patients were randomized (1:1) to receive either:

  • KEYTRUDA (200 mg intravenously [IV]) every three weeks (Q3W) for five cycles concurrent with cisplatin (40 mg/m2 IV) weekly for five cycles (an optional sixth infusion could be administered per local practice) and radiotherapy (EBRT followed by BT), followed by KEYTRUDA (400 mg IV) every six weeks (Q6W) for 15 cycles;
  • Placebo IV Q3W for five cycles concurrent with cisplatin (40 mg/m2 IV) weekly for five cycles (an optional sixth infusion could be administered per local practice) and radiotherapy (EBRT followed by BT), followed by placebo IV Q6W for 15 cycles.

 

Treatment continued until RECIST v.1.1-defined progression of disease as determined by investigator or unacceptable toxicity. Assessment of tumor status was performed every 12 weeks from completion of CRT for the first two years, followed by every 24 weeks in year three, and then annually. The major efficacy outcome measures were PFS as assessed by investigator according to RECIST v1.1, modified to follow a maximum of 10 target lesions and a maximum of five target lesions per organ, or histopathologic confirmation, and overall survival (OS).

 

The trial demonstrated a statistically significant improvement in PFS in the overall population. In an exploratory subgroup analysis for the 462 patients (44%) with FIGO 2014 Stage IB2-IIB disease, the PFS HR estimate was 0.91 (95% CI, 0.63-1.31), indicating that the PFS improvement in the overall population was primarily attributed to the results seen in the subgroup of patients with FIGO 2014 Stage III-IVA disease. Overall survival data were not mature at the time of PFS analysis, with 10% deaths in the overall population.

 

In the exploratory subgroup analysis of 596 patients with FIGO 2014 Stage III-IVA disease, 61 patients (21%) in the KEYTRUDA plus CRT arm (n=293) experienced a PFS event versus 94 patients (31%) in the placebo plus CRT arm (n=303). Median PFS was not reached in either arm. The 12-month PFS rate was 81% (95% CI, 75-85) for KEYTRUDA plus CRT versus 70% (95% CI, 64-76) for placebo plus CRT.

 

The median duration of exposure to KEYTRUDA was 12.1 months (range, 1 day to 27 months). Fatal adverse reactions occurred in 1.4% of 292 patients receiving KEYTRUDA in combination with chemoradiotherapy, including one case each (0.3%) of large intestinal perforation, urosepsis, sepsis, and vaginal hemorrhage. Serious adverse reactions occurred in 30% of patients receiving KEYTRUDA in combination with CRT. Serious adverse reactions occurred in 30% of patients receiving KEYTRUDA in combination with CRT. Serious adverse reactions occurring in ≥1% of patients included urinary tract infection (2.7%), urosepsis (1.4%), and sepsis (1%). KEYTRUDA was discontinued for adverse reactions in 7% of patients. The most common adverse reaction (≥1%) resulting in permanent discontinuation was diarrhea (1%). Adverse reactions leading to interruption of KEYTRUDA occurred in 43% of patients; the most common adverse reactions leading to interruption of KEYTRUDA (≥2%) were anemia (8%), COVID-19 (6%), SARS-CoV-2 test positive (3.1%), decreased neutrophil count (2.7%), diarrhea (2.7%), urinary tract infection (2.7%), and increased alanine aminotransferase (2.4%). The most common adverse reactions (≥10%) among patients receiving KEYTRUDA were nausea (56%), diarrhea (50%), vomiting (33%), urinary tract infection (32%), fatigue (26%), hypothyroidism (20%), constipation (18%), decreased appetite and weight loss (17% each), abdominal pain and pyrexia (12% each), hyperthyroidism, dysuria and rash (11% each), and pelvic pain (10%).

 

About cervical cancer

Cervical cancer forms in the cells lining the cervix, which is the lower part of the uterus. While screenings and prevention have resulted in declining cervical cancer rates, the disease continues to affect many people in the U.S. and around the world. Cervical cancer is the fourth most common cancer in women globally. In the U.S., it is estimated there were approximately 13,960 new cases of invasive cervical cancer and about 4,310 deaths from cervical cancer in 2023.

 

About KEYTRUDA® (pembrolizumab) injection, 100 mg

KEYTRUDA is an anti-programmed death receptor-1 (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 1,600 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 in the U.S.

Cervical Cancer

KEYTRUDA, in combination with chemoradiotherapy (CRT), is indicated for the treatment of patients with FIGO 2014 Stage III-IVA cervical cancer.

KEYTRUDA, in combination with chemotherapy, with or without bevacizumab, is indicated for the treatment of patients with persistent, recurrent, or metastatic cervical cancer whose tumors express PD-L1 (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 cervical cancer with disease progression on or after chemotherapy whose tumors express PD-L1 (CPS ≥1) as determined by an FDA-approved test.

See additional selected KEYTRUDA indications in the U.S. after the Selected Important Safety Information.

Selected Important Safety Information for KEYTRUDA

 

Severe and Fatal Immune-Mediated Adverse Reactions

KEYTRUDA is a monoclonal antibody that belongs to a class of drugs that bind to either the programmed death receptor-1 (PD-1) or the programmed death ligand 1 (PD-L1), blocking the PD-1/PD-L1 pathway, thereby removing inhibition of the immune response, potentially breaking peripheral tolerance and inducing immune-mediated adverse reactions. Immune-mediated adverse reactions, which may be severe or fatal, can occur in any organ system or tissue, can affect more than one body system simultaneously, and can occur at any time after starting treatment or after discontinuation of treatment. Important immune-mediated adverse reactions listed here may not include all possible severe and fatal immune-mediated adverse reactions.

 

Monitor patients closely for symptoms and signs that may be clinical manifestations of underlying immune-mediated adverse reactions. Early identification and management are essential to ensure safe use of anti–PD-1/PD-L1 treatments. Evaluate liver enzymes, creatinine, and thyroid function at baseline and periodically during treatment. For patients with TNBC treated with KEYTRUDA in the neoadjuvant setting, monitor blood cortisol at baseline, prior to surgery, and as clinically indicated. 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 KEYTRUDA depending on severity of the immune-mediated adverse reaction. In general, if KEYTRUDA requires interruption or discontinuation, 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 adverse reactions are not controlled with corticosteroid therapy.

 

Immune-Mediated Pneumonitis

KEYTRUDA can cause immune-mediated pneumonitis. The incidence is higher in patients who have received prior thoracic radiation. Immune-mediated pneumonitis occurred in 3.4% (94/2799) of patients receiving KEYTRUDA, including fatal (0.1%), Grade 4 (0.3%), Grade 3 (0.9%), and Grade 2 (1.3%) reactions. Systemic corticosteroids were required in 67% (63/94) of patients. Pneumonitis led to permanent discontinuation of KEYTRUDA in 1.3% (36) and withholding in 0.9% (26) of patients. All patients who were withheld reinitiated KEYTRUDA after symptom improvement; of these, 23% had recurrence. Pneumonitis resolved in 59% of the 94 patients.

 

Pneumonitis occurred in 8% (31/389) of adult patients with cHL receiving KEYTRUDA as a single agent, including Grades 3-4 in 2.3% of patients. Patients received high-dose corticosteroids for a median duration of 10 days (range: 2 days to 53 months). Pneumonitis rates were similar in patients with and without prior thoracic radiation. Pneumonitis led to discontinuation of KEYTRUDA in 5.4% (21) of patients. Of the patients who developed pneumonitis, 42% interrupted KEYTRUDA, 68% discontinued KEYTRUDA, and 77% had resolution.

 

Pneumonitis occurred in 7% (41/580) of adult patients with resected NSCLC who received KEYTRUDA as a single agent for adjuvant treatment of NSCLC, including fatal (0.2%), Grade 4 (0.3%), and Grade 3 (1%) adverse reactions. Patients received high-dose corticosteroids for a median duration of 10 days (range: 1 day to 2.3 months). Pneumonitis led to discontinuation of KEYTRUDA in 26 (4.5%) of patients. Of the patients who developed pneumonitis, 54% interrupted KEYTRUDA, 63% discontinued KEYTRUDA, and 71% had resolution.

 

Immune-Mediated Colitis

KEYTRUDA can cause immune-mediated colitis, which may present with diarrhea. Cytomegalovirus 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. Immune-mediated colitis occurred in 1.7% (48/2799) of patients receiving KEYTRUDA, including Grade 4 (<0.1%), Grade 3 (1.1%), and Grade 2 (0.4%) reactions. Systemic corticosteroids were required in 69% (33/48); additional immunosuppressant therapy was required in 4.2% of patients. Colitis led to permanent discontinuation of KEYTRUDA in 0.5% (15) and withholding in 0.5% (13) of patients. All patients who were withheld reinitiated KEYTRUDA after symptom improvement; of these, 23% had recurrence. Colitis resolved in 85% of the 48 patients.

Hepatotoxicity and Immune-Mediated Hepatitis

 

KEYTRUDA as a Single Agent

KEYTRUDA can cause immune-mediated hepatitis. Immune-mediated hepatitis occurred in 0.7% (19/2799) of patients receiving KEYTRUDA, including Grade 4 (<0.1%), Grade 3 (0.4%), and Grade 2 (0.1%) reactions. Systemic corticosteroids were required in 68% (13/19) of patients; additional immunosuppressant therapy was required in 11% of patients. Hepatitis led to permanent discontinuation of KEYTRUDA in 0.2% (6) and withholding in 0.3% (9) of patients. All patients who were withheld reinitiated KEYTRUDA after symptom improvement; of these, none had recurrence. Hepatitis resolved in 79% of the 19 patients.

 

KEYTRUDA With Axitinib

KEYTRUDA in combination with axitinib can cause hepatic toxicity. Monitor liver enzymes before initiation of and periodically throughout treatment. Consider monitoring more frequently 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. With the combination of KEYTRUDA and axitinib, Grades 3 and 4 increased alanine aminotransferase (ALT) (20%) and increased aspartate aminotransferase (AST) (13%) were seen at a higher frequency compared to KEYTRUDA alone. Fifty-nine percent of the patients with increased ALT received systemic corticosteroids. In patients with ALT ≥3 times upper limit of normal (ULN) (Grades 2-4, n=116), ALT resolved to Grades 0-1 in 94%. Among the 92 patients who were rechallenged with either KEYTRUDA (n=3) or axitinib (n=34) administered as a single agent or with both (n=55), recurrence of ALT ≥3 times ULN was observed in 1 patient receiving KEYTRUDA, 16 patients receiving axitinib, and 24 patients receiving both. All patients with a recurrence of ALT ≥3 ULN subsequently recovered from the event.

Immune-Mediated Endocrinopathies

 

Adrenal Insufficiency

KEYTRUDA can cause primary or secondary adrenal insufficiency. For Grade 2 or higher, initiate symptomatic treatment, including hormone replacement as clinically indicated. Withhold KEYTRUDA depending on severity. Adrenal insufficiency occurred in 0.8% (22/2799) of patients receiving KEYTRUDA, including Grade 4 (<0.1%), Grade 3 (0.3%), and Grade 2 (0.3%) reactions. Systemic corticosteroids were required in 77% (17/22) of patients; of these, the majority remained on systemic corticosteroids. Adrenal insufficiency led to permanent discontinuation of KEYTRUDA in <0.1% (1) and withholding in 0.3% (8) of patients. All patients who were withheld reinitiated KEYTRUDA after symptom improvement.

 

Hypophysitis

KEYTRUDA can cause immune-mediated hypophysitis. 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 indicated. Withhold or permanently discontinue KEYTRUDA depending on severity. Hypophysitis occurred in 0.6% (17/2799) of patients receiving KEYTRUDA, including Grade 4 (<0.1%), Grade 3 (0.3%), and Grade 2 (0.2%) reactions. Systemic corticosteroids were required in 94% (16/17) of patients; of these, the majority remained on systemic corticosteroids. Hypophysitis led to permanent discontinuation of KEYTRUDA in 0.1% (4) and withholding in 0.3% (7) of patients. All patients who were withheld reinitiated KEYTRUDA after symptom improvement.

 

Thyroid Disorders

KEYTRUDA can cause immune-mediated thyroid disorders. Thyroiditis can present with or without endocrinopathy. Hypothyroidism can follow hyperthyroidism. Initiate hormone replacement for hypothyroidism or institute medical management of hyperthyroidism as clinically indicated. Withhold or permanently discontinue KEYTRUDA depending on severity. Thyroiditis occurred in 0.6% (16/2799) of patients receiving KEYTRUDA, including Grade 2 (0.3%). None discontinued, but KEYTRUDA was withheld in <0.1% (1) of patients.

 

Hyperthyroidism occurred in 3.4% (96/2799) of patients receiving KEYTRUDA, including Grade 3 (0.1%) and Grade 2 (0.8%). It led to permanent discontinuation of KEYTRUDA in <0.1% (2) and withholding in 0.3% (7) of patients. All patients who were withheld reinitiated KEYTRUDA after symptom improvement. Hypothyroidism occurred in 8% (237/2799) of patients receiving KEYTRUDA, including Grade 3 (0.1%) and Grade 2 (6.2%). It led to permanent discontinuation of KEYTRUDA in <0.1% (1) and withholding in 0.5% (14) of patients. All patients who were withheld reinitiated KEYTRUDA after symptom improvement. The majority of patients with hypothyroidism required long-term thyroid hormone replacement. The incidence of new or worsening hypothyroidism was higher in 1185 patients with HNSCC, occurring in 16% of patients receiving KEYTRUDA as a single agent or in combination with platinum and FU, including Grade 3 (0.3%) hypothyroidism. The incidence of new or worsening hypothyroidism was higher in 389 adult patients with cHL (17%) receiving KEYTRUDA as a single agent, including Grade 1 (6.2%) and Grade 2 (10.8%) hypothyroidism. The incidence of new or worsening hyperthyroidism was higher in 580 patients with resected NSCLC, occurring in 11% of patients receiving KEYTRUDA as a single agent as adjuvant treatment, including Grade 3 (0.2%) hyperthyroidism. The incidence of new or worsening hypothyroidism was higher in 580 patients with resected NSCLC, occurring in 22% of patients receiving KEYTRUDA as a single agent as adjuvant treatment (KEYNOTE-091), including Grade 3 (0.3%) hypothyroidism.

 

Type 1 Diabetes Mellitus (DM), Which Can Present With Diabetic Ketoacidosis

Monitor patients for hyperglycemia or other signs and symptoms of diabetes. Initiate treatment with insulin as clinically indicated. Withhold KEYTRUDA depending on severity. Type 1 DM occurred in 0.2% (6/2799) of patients receiving KEYTRUDA. It led to permanent discontinuation in <0.1% (1) and withholding of KEYTRUDA in <0.1% (1) of patients. All patients who were withheld reinitiated KEYTRUDA after symptom improvement.

 

Immune-Mediated Nephritis With Renal Dysfunction

KEYTRUDA can cause immune-mediated nephritis. Immune-mediated nephritis occurred in 0.3% (9/2799) of patients receiving KEYTRUDA, including Grade 4 (<0.1%), Grade 3 (0.1%), and Grade 2 (0.1%) reactions. Systemic corticosteroids were required in 89% (8/9) of patients. Nephritis led to permanent discontinuation of KEYTRUDA in 0.1% (3) and withholding in 0.1% (3) of patients. All patients who were withheld reinitiated KEYTRUDA after symptom improvement; of these, none had recurrence. Nephritis resolved in 56% of the 9 patients.

 

Immune-Mediated Dermatologic Adverse Reactions

KEYTRUDA can cause immune-mediated rash or dermatitis. Exfoliative dermatitis, including Stevens-Johnson syndrome, drug rash with eosinophilia and systemic symptoms, and toxic epidermal necrolysis, has occurred with anti–PD-1/PD-L1 treatments. Topical emollients and/or topical corticosteroids may be adequate to treat mild to moderate nonexfoliative rashes. Withhold or permanently discontinue KEYTRUDA depending on severity. Immune-mediated dermatologic adverse reactions occurred in 1.4% (38/2799) of patients receiving KEYTRUDA, including Grade 3 (1%) and Grade 2 (0.1%) reactions. Systemic corticosteroids were required in 40% (15/38) of patients. These reactions led to permanent discontinuation in 0.1% (2) and withholding of KEYTRUDA in 0.6% (16) of patients. All patients who were withheld reinitiated KEYTRUDA after symptom improvement; of these, 6% had recurrence. The reactions resolved in 79% of the 38 patients.

Other Immune-M

Contacts

Media Contacts:

Julie Cunningham

(617) 519-6264

John Infanti

(609) 500-4714

Investor Contacts:

Peter Dannenbaum

(732) 594-1579

Damini Chokshi

(732) 594-1577

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AM Best affirms Issue Credit Rating of Fairfax Financial Holdings Limited’s reopens senior unsecured notes

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best has affirmed the Long-Term Issue Credit Rating (Long-Term IR) of “bbb+” (Good) of the 6% senior unsecured notes, due December 2033, of Fairfax Financial Holdings Limited (Fairfax) (Toronto, Canada). The outlook of this Credit Rating (rating) is stable.

 

The rating applies to the recently issued $200 million 6% senior unsecured notes, due 2033, and its existing $400 million 6% senior unsecured notes, due 2033, issued Dec. 7, 2023. The additional notes offered constitute a further issuance of, and are fungible with, the existing notes. The $200 million of additional notes were priced at 100.998%, plus accrued interest from Dec. 7, 2023, with a yield to maturity of 5.863%. These additional notes offer terms identical to the existing notes issued on Dec. 7, 2023, with the exception of the issue date and offering price.

 

The Long-Term Issuer Credit Rating of Fairfax, as well as the ratings of its operating subsidiaries and all other debt issuances are unchanged. Fairfax intends to use substantially all of the net proceeds of the offering to repay outstanding indebtedness with upcoming maturities and use any remainder for repayment of other outstanding indebtedness of Fairfax or its subsidiaries and for general corporate purposes.

 

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 use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

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 © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Dan Hofmeister, CFA, FRM, CAIA, CPCU
Senior Financial Analyst
+1 908 882 1893
dan.hofmeister@ambest.com

Gregory Dickerson
Director
+1 908 882 1737
gregory.dickerson@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318

al.slavin@ambest.com

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Popular Israeli series ‘Shtisel’ changes US home to Amazon Prime Video

“Shtisel,” the popular series following the lives of a tight-knit ultra-Orthodox family in Jerusalem, is changing its U.S. home.

 

Previously available on Netflix, all three seasons of “Shtisel” have been acquired by Amazon Prime Video from Yes Studios.

 

 

The award-winning drama, which helped launch the international careers of Shira Haas “(Unorthodox)” and Michael Aloni “(Beauty Queen of Jerusalem),” will begin its rollout on Prime Video this month with Season 1 debuting on Jan. 16.

 

The deal comes on the heels of “Shtisel” launching last month on global Israeli content platform Izzy, as well as the Jewish storytelling platform ChaiFlicks for the U.S., Australia and New Zealand.

 

Created and written by Ori Elon and Yehonatan Indursky, the series became a global phenomenon when it first aired on Netflix, offering unique insights into Haredi society. “Shtisel” is produced by Abot Hameiri Barkai for Yes TV. The series won 17 Israeli Academy Awards, including best drama series, script, actor (twice) and actress.

 

“With its endearing characters and compelling look into everyday life in an ultra-orthodox community, ‘Shtisel’ has quickly become an addictive and binge-worthy series wherever it has been made available,” said Sharon Levi, Yes Studios’ managing director.

 

“Its reputation and huge word-of-mouth support means that it is in constant demand, so we are excited to now introduce the Shtisel family to a whole new audience through this latest partnership with Amazon, as well as the recent deals with Izzy and ChaiFlicks.”

 

In related news, Yes Studios recently struck a new deal with Izzy for three more titles. The drama “Just for Today,” which won the special jury prize at Series Mania in 2019, launched on Izzy Dec. 28; and the romantic comedy “Who Died?” and Season 1 of “The Chef” are slated to drop later this month. Another show on Yes Studios’ slate, “Fire Dance,” the TV series debut of Rama Burshtein-Shai, will debut on ChaiFlicks in the U.S., Canada, Australia and New Zealand in early 2024.

 

 

 

— Variety (EXCLUSIVE) 

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French IT group Atos names Paul Saleh as CEO, and forecasts H2 2024 cash flow to drop below targets

Sudip Kar-Gupta / Reuters:

 

Summary — 

  • CFO Paul Saleh to become new CEO
  • Jacques-Francois de Prest joins as CFO
  • Atos warns that it will miss second-half cash flow target
  • Company has yet to request creditor conciliation proceedings
  • Shares down 16%

PARIS — French technology company Atos (ATOS.PA) named Paul Saleh as its new chief executive on Monday and warned that free cash flow would be slightly below its initial target for the second half of the year, sending its share price tumbling.

Atos said Saleh, currently chief financial officer, would become CEO – the company’s fourth in less than two years as it has grappled with a series of profit warnings.

The logo of Atos is seen on a company building in Nantes, France, March 11, 2022. REUTERS/Stephane Mahe/File Photo Acquire Licensing Rights

 

 

 

 

 

 

Atos shares were down by 16% in early trading. The stock has fallen by about 40% since the start of the year.

Saleh takes over from Yves Bernaert, who leaves the company “after an intense period of transformation,” Atos said, with Jacques-Francois de Prest coming in as CFO after finance roles with car parts business Mobivia and telecoms group Vodafone.

Les Echos newspaper reported on Monday that the company’s restructuring plan was facing difficulties.

Atos, which is taking longer than expected to negotiate the sale of its loss-making Tech Foundations arm, said it has not filed a request to open conciliation proceedings with creditors.

The potential Tech Foundation sale to Czech billionaire Daniel Kretinsky’s EPEI seems a long way off. Les Echos on Monday cited an unnamed source as saying a “last chance” meeting between the parties was slated for the next few days.

Representatives for Atos and the Kretinsky camp did not immediately respond to Reuters requests for comment on the report.

Atos said on Monday that CEO Saleh will still focus on refinancing debt, the sale of the Tech Foundations business and the sale of the company’s Big Data & Security (BDS) activities to Airbus (AIR.PA).

 

Reporting by Sudip Kar-Gupta Editing by Tassilo Hummel and David Goodman

 

— Techmeme

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AACCNJ welcomes new management for two of its boards in 2024

TRENTON, N.J. —  The AACCNJ announced that Gary Mann, CEO of Jasfel Analytics, and Viviana Lamm, CEO of Risk Strategies, will serve as Chairman and Chair of the AACCNJ Board of Directors and Foundation Board of Directors, respectively.

 

Tammeisha Smith, CEO, Dunbar Center will serve as Vice Chair of the Board of Directors. The appointments were effective Jan. 1, 2024.

 

“I am truly honored and humbled to step into the role of Chairman of the Board. Stan Prater has been an exemplary steward and leader, and I extend my sincere gratitude to him,” said Gary Mann, CEO, Jasfel Analytics.

 

“As I assume this responsibility, I am mindful of the extraordinary work of John Harmon, Founder and CEO. Standing on the shoulders of both Stan and John, I am committed to building on their incredible legacy. Together, with the continued guidance of John, we will further advance and expand revenue generating opportunities and strategic relationships for African American businesses in New Jersey and beyond,” said Viviana Lamm, CEO, Risk Strategies.

 

“I am beyond honored, grateful and inspired to be a part of a forward moving organization that is driven by the triumph of a collective team of individuals that recognize diversity and difference yet having the ability to bring people together and create bridges between them. I intend to ensure active participation, encourage and give back to meet the commitment and common goals of our organization. I look forward to learning from our directors and board members as we forge forward.”

 

“As we look ahead, I am inspired by the collective strength and diversity of talent within our membership. I firmly believe that our success is interlinked with the success of every member,” said Tammeisha Smith, CEO, Dunbar Center.

 

“Therefore, I encourage active participation, constructive feedback, and a shared commitment to our common goals. Together, we will chart a course that not only sustains our present momentum but also paves the way for a brighter, more prosperous future.”

 

“We are grateful to former Chairman Stan Prater for his leadership to excellence, growth and sustainability over his tenure, he definitely made an impact on our organization,” said John E. Harmon, Sr., IOM, Founder, President, & CEO, AACCNJ.

 

“And to our incoming Chairman, Gary Mann, and Foundation Board Chair Lamm, and Vice Chair Smith, there remains a tremendous amount of work to be done and each of you possess the commitment and unique skills necessary to get the job done with excellence. I look forward to working with each of you to design strategies that will derive value for our members and those that invest in the mission of AACCNJ while concurrently contributing to the competitiveness of New Jersey.”

 

The official Changing of the Guard ceremony/reception will take place on Jan. 18th from 6 p.m. to 8 p.m. at the Lobby Club in Trenton, N.J. Members only, may register at www.aaccnj.com.

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Beauty Hype: World’s most expensive bird droppings better than Botox!

Better than Botox: Many celebrities swear by it – over 400 years old recipe

NEW YORK — It’s supposed to work better than Botox, and after just a few minutes, you look 10 years younger. The story about it from “Asami Geisha” goes back to the 17th century and comes from Japan.

 

On special farms, nightingales produce valuable feces. The songbirds are fed exclusively with plant seeds. The feces contain the urea known in cosmetics and the enzyme guanine.

 

The nightingales’ feces are disinfected by ultraviolet light and then ground into a fine powder. The effect on the skin is instantaneous, and you’re left with a peachy complexion.

 

More than 300 years ago, geishas used “Asami Geisha” very successfully to regenerate and rebuild their skin bleached with lead and zinc.

 

Numerous celebrities all over the world admire the radiant skin of Japanese women. “Asami Geisha” is a pure natural cosmetic and does not require any chemical additives.

 

But if you want to enjoy these valuable cosmetics, you have to dig deep into your pocket. 50 ml of “Asami Geisha” costs an incredible  Euro 490. This makes “Asami Geisha” by far the most expensive bird droppings in the world.

 

British journalist Claudia Cornell tested the cosmetics for Mail Online. Her conclusion: “Even after two days, my skin looked radiant, and my girlfriend thought I had had Botox injections. I’m more than satisfied with the result.”

Source:

https://www.dailymail.co.uk/femail/article-2641957/The-cringe-inducing-facial-The-good-news-beats-Botox-The-bad-news-birds-mess.html

 

More information can be found at: www.asamigeisha.com

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AACCNJ honors the legacy and memory of Rev. Dr. Martin Luther King, Jr.

Martin Luther King on Black Economic Empowerment
(Coca Cola Boycott 1968)

 

Martin Luther King, Jr., (January 15, 1929-April 4, 1968) was born Michael Luther King, Jr., but later had his name changed to Martin.

 

His grandfather began the family’s long tenure as pastors of the Ebenezer Baptist Church in Atlanta, serving from 1914 to 1931; his father has served from then until the present, and from 1960 until his death Martin Luther acted as co-pastor.

 

Martin Luther attended segregated public schools in Georgia, graduating from high school at the age of fifteen; he received the B. A. degree in 1948 from Morehouse College, a distinguished Negro institution of Atlanta from which both his father and grandfather had graduated.

 

After three years of theological study at Crozer Theological Seminary in Pennsylvania where he was elected president of a predominantly white senior class, he was awarded the B.D. in 1951. With a fellowship won at Crozer, he enrolled in graduate studies at Boston University, completing his residence for the doctorate in 1953 and receiving the degree in 1955. In Boston he met and married Coretta Scott, a young woman of uncommon intellectual and artistic attainments. Two sons and two daughters were born into the family.

 

On April 3, 1968 Dr. Martin Luther King, Jr. gave is final speech, “I’ve Been to the Mountain Top.” Dr. King gave what many feel is one of his most important speeches. In this speech Dr. King called for a major boycott of all local and national brands. Dr. King spoke of the importance of the Black Dollar and how it could be used to leverage the garnering of civil rights.

 

In 1954, Martin Luther King became pastor of the Dexter Avenue Baptist Church in Montgomery, Ala. Always a strong worker for civil rights for members of his race, King was, by this time, a member of the executive committee of the National Association for the Advancement of Colored People, the leading organization of its kind in the nation.
He was ready, then, early in December, 1955, to accept the leadership of the first great Negro nonviolent demonstration of contemporary times in the United States, the bus boycott described by Gunnar Jahn in his presentation speech in honor of the laureate. The boycott lasted 382 days.
On December 21, 1956, after the Supreme Court of the United States had declared unconstitutional the laws requiring segregation on buses, Negroes and whites rode the buses as equals. During these days of boycott, King was arrested, his home was bombed, he was subjected to personal abuse, but at the same time he emerged as a Negro leader of the first rank.
In 1957 he was elected president of the Southern Christian Leadership Conference, an organization formed to provide new leadership for the now burgeoning civil rights movement. The ideals for this organization he took from Christianity; its operational techniques from Gandhi. In the eleven-year period between 1957 and 1968, King traveled over six million miles and spoke over twenty-five hundred times, appearing wherever there was injustice, protest, and action; and meanwhile he wrote five books as well as numerous articles.
In these years, he led a massive protest in Birmingham, Alabama, that caught the attention of the entire world, providing what he called a coalition of conscience. and inspiring his “Letter from a Birmingham Jail”, a manifesto of the Negro revolution; he planned the drives in Alabama for the registration of Negroes as voters; he directed the peaceful march on Washington, D.C., of 250,000 people to whom he delivered his address, “l Have a Dream”, he conferred with President John F. Kennedy and campaigned for President Lyndon B. Johnson; he was arrested upwards of twenty times and assaulted at least four times; he was awarded five honorary degrees; was named Man of the Year by Time magazine in 1963; and became not only the symbolic leader of American blacks but also a world figure.
At the age of thirty-five, Martin Luther King, Jr., was the youngest man to have received the Nobel Peace Prize. When notified of his selection, he announced that he would turn over the prize money of $54,123 to the furtherance of the civil rights movement.
On the evening of April 4, 1968, while standing on the balcony of his motel room in Memphis, Tennessee, where he was to lead a protest march in sympathy with striking garbage workers of that city, he was assassinated.

The NJ Chamber office is closed Jan. 15

in observance of Martin Luther King Jr Day.