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Hostess Brands appoints Darryl Riley to be company’s first Chief Sustainability Officer

Reporting to the CEO, Position Underscores Hostess Brands’ Focus on Sustainability

 

LENEXA, Kan. — (BUSINESS WIRE) — Hostess Brands, Inc. (NASDAQ: TWNK), a leading sweet snacks company, today announced that Darryl Riley has been appointed to the newly created position of Chief Sustainability Officer, effective immediately. Riley, who most recently served as Senior Vice President, Quality, Food Safety and R&D, will report to Andy Callahan, President and CEO of Hostess Brands.


“As Hostess Brands continues to focus on building a socially responsible, modern-day snacking powerhouse, we believe dedicating an executive leadership position to sustainability will drive continued progress and integration,” said Callahan. “With his deep industry expertise and operational experience, Darryl is the ideal leader to help us integrate our sustainability-first approach with our sustainable profitable growth mindset.”

 

In his new role, Riley will expand the company’s capabilities to develop and execute strategies to drive its Environmental, Social and Governance (ESG) objectives and initiatives. Riley also will lead efforts to develop awareness, education, training, and measurement programs that inspire employees to embrace sustainability and further integrate ESG into the company culture.

 

Riley joined Hostess Brands in 2016 as Senior Vice President, Quality, Food Safety and R&D. Prior to joining Hostess Brands, he held positions of increasing responsibility at various food companies, including Kraft Heinz and Kellogg Company. Riley earned his bachelor’s degree in chemical engineering from the New Jersey Institute of Technology.

 

Hostess Brands also announced that Mike Cramer, Executive Vice President and Chief Administrative Officer, who was critical in establishing the Hostess Brands corporate sustainability framework, including our Corporate Responsibility Reports in 2021 and 2022, will transfer ESG responsibilities to Riley. Cramer will continue to be a member of the leadership team with primary responsibility for government & labor relations, mergers & acquisitions (M&A), along with special projects for the CEO and the board of directors, effective immediately.

 

“Mike’s contributions to building the modern-day Hostess Brands since our 2013 relaunch under a bold new vision and operating model have been immeasurable, and we are fortunate to have Mike’s knowledge and wisdom as we continue our growth journey,” said Callahan.

 

Cramer has served in his current role since 2013. Prior to that, he held various executive roles with several private and public consumer products companies, including Pabst Brewing Company, Pinnacle Foods, Ghirardelli Chocolate, International Home Foods and The Morningstar Group. He also was the President and Chief Operating Officer of Southwest Sports Group and President and Chief Operating Officer of the Texas Rangers and Dallas Stars. He is a Senior Fellow in the College of Communication at the University of Texas at Austin, and he earned his juris doctor degree at Marquette University Law School.

 

About Hostess Brands, Inc.

Hostess Brands, Inc. is a leading sweet snacks company focused on developing, manufacturing, marketing, selling and distributing products in North America under the Hostess® and Voortman® brands. The Company produces a variety of new and classic treats, including iconic Hostess® Donettes®, Twinkies®, CupCakes, Ding Dongs® and Zingers®, as well as a variety of Voortman® cookies and wafers. For more information about Hostess Brands, please visit hostessbrands.com.

 

Forward-Looking Statements

This press release contains statements reflecting our views about the future performance of the company that constitute “forward-looking statements” that involve substantial risks and uncertainties. Forward-looking statements are generally identified through the inclusion of words such as “believes,” “expects,” “intends,” “estimates,” “projects,” “anticipates,” “will,” “plan,” “may,” “should” or similar language. Statements addressing our future operating performance and statements addressing events and developments that we expect or anticipate will occur are also considered forward-looking statements. All forward-looking statements included herein are made only as of the date hereof. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

 

As a result of a number of known and unknown risks and uncertainties, the company’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Risks and uncertainties are identified and discussed in Item 1A-Risk Factors in the company’s annual report on Form 10-K for 2021 filed on March 1, 2022. All subsequent written or oral forward-looking statements attributable to us or persons acting on the company’s behalf are expressly qualified in their entirety by these risk factors.

 

Contacts

Investor contact
Amit Sharma

asharma@hostessbrands.com

Media contact
Carly Schesel

carly.schesel@clynch.com

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Lifestyle Local News News Now!

Hughes: County’s electric vehicle charging stations now up and running

TRENTON, N.J. – The electric vehicle (EV) charging stations that the County of Mercer has installed at 11 of its facilities are now open and available for public use, County Executive Brian M. Hughes announced.

 

 

“The availability of additional charging stations around Mercer County will benefit electric vehicle owners and, we hope, help reduce the ‘range anxiety’ that might prevent other consumers from investing in electric vehicles,” Mr. Hughes said.

 

“This initiative will also help raise awareness about the environmental benefits of gasoline alternatives as we further our commitment to increasing sustainable practices throughout the County.”

 

The cost of purchasing and installing the 11 dual-port, Level 2 ChargePoint Chargers was offset in part by an $88,000 grant from the New Jersey Department of Environmental Protection (NJDEP) Pay$ to Plug In Program as part of Gov. Phil Murphy’s commitment to reduce greenhouse gas emissions that contribute to the harmful effects of climate change. Pay$ to Plug In was designed to expand the state’s growing network of electric vehicle infrastructure, allowing residents, businesses and government agencies to purchase and drive electric vehicles. Eligible costs include those necessary for, and directly related to, the acquisition, installation, operation and maintenance of new EV charging stations. The County is pursuing funding to offset the remaining cost of the total $393,827 project.

Level 2 charging adds about 10 to 20 miles of range to a plug-in electric vehicle per hour of charging time. The cost for EV users is $1 per hour for the first four hours of charging time, and then $5 per each additional hour until the vehicle is fully charged. Download the ChargePoint App via the Apple App Store or Google Play or visit https://www.chargepoint.com/drivers to sign up for a ChargePoint account.

On recommendation of the County Planning Department, the new ChargePoint charging stations were installed and are now available for public use at the following County-owned locations. The charging stations are available 24/7 except where noted.

 

The charging stations are available 24/7 except where noted.

  • Boathouse at Mercer Lake, 334 South Post Road, West Windsor
  • Hopewell Valley Golf Course, 114 Pennington-Hopewell Road, Hopewell
  • Mercer County Administration Building, 640 South Broad St., Trenton
  • Mercer County Improvement Authority, 80 Hamilton Ave., Trenton
  • Mercer County Office Park, 1440 Parkside Ave, Ewing
  • Mercer County Technical Schools Assunpink Center, 1085 Old Trenton Road, Hamilton; Sept. 1 – June 30, Monday-Thursday, 7 a.m. to 9 p.m.; Friday, 7 a.m. to 4 p.m.; July 1 – Aug. 31, Monday-Friday, 7 a.m. to 3 p.m.
  • . to 4 p.m.; July 1 – Aug. 31, Monday-Friday, 7 a.m. to 3 p.m.
  • Mercer County Technical Schools Sypek Center, 129 Bull Run Road, Ewing; Sept. 1 – June 30, Monday-Thursday, 7 a.m. to 9 p.m.; Friday, 7 a.m. to 4 p.m.; July 1 – Aug. 31, Monday-Friday, 7 a.m. to 3 p.m.
  • Mercer Meadows (Hunt House), 197 Blackwell Road, Hopewell Township; 6 a.m. to 9 p.m. (Will be adjusted to 6 a.m. to 6 p.m. after daylight-saving time ends.)
  • Mercer Oaks Golf Course, 725 Village Road West, West Windsor
  • Mountain View Golf Course, 850 Bear Tavern Road, Ewing
  • Princeton Country Club, 1 Wheeler Way, West Windsor

  • Drivers of all types of vehicles are reminded that EV charging spots are for charging, not parking.  Visit ChargePoint’s website for tips on EV etiquette. For additional information on charging electric vehicles, visit the “Drive Green” section of the NJDEP website.

Categories
Business News Now!

CompoSecure announces inclusion in Russell 2000® and Russell 3000® Indexes

Addition to the Russell Indexes marks a significant milestone for the company

 

SOMERSET, N.J. — (BUSINESS WIRE) — $CMPO #CardDesign—CompoSecure, Inc. (Nasdaq: CMPO), a leading provider of premium financial payment cards and cryptocurrency storage and security solutions, today announced that it was added as a member of the US small-cap Russell 2000® and Russell 3000® Indexes maintained by FTSE Russell, effective after the U.S. market opens today as part of the 2022 Russell Index’s annual reconstitution.

“It’s an honor to be added to the Russell indexes, which validates the potential we believe investors see in CompoSecure’s innovative metal payment card offerings, and our Arculus security, authentication, and crypto cold storage suite of products,” said Jon Wilk, CEO of CompoSecure. “We deliver unique, premium branded experiences that enable people to securely access their financial and digital assets. Inclusion in such prominent indexes allows us to raise greater awareness of the value we deliver to our customers and millions of consumers around the world.”

 

Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

 

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

 

For more information on the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

 

About FTSE Russell

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell’s expertise and products are used extensively by institutional and retail investors globally. Approximately $20 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. For more information on the Russell Indexes, please visit the FTS Russell website at www.ftserussell.com.

 

About CompoSecure

Founded in 2000, CompoSecure is a leading provider of premium financial payment cards and cryptocurrency and digital asset storage and security solutions. The company focuses on serving the affluent customers of payment card issuers worldwide using proprietary production methods that meet the highest standards of quality and security. The company offers secure, innovative, and durable proprietary products that implement leading-edge engineering capabilities and security. CompoSecure’s mission is to increase clients’ brand equity in the marketplace by offering products and solutions which differentiate the brands they represent, thus elevating cardholder experience. For more information, please visit www.composecure.com. Arculus™ was created with the mission to promote cryptocurrency adoption by making it safe, simple and secure for the average person to store, buy, swap, send and receive cryptocurrency. With a strong background in security hardware and financial payments, the Arculus™ solution was developed to allow people to use a familiar payment card form factor to manage their cryptocurrency. For more information, please visit www.GetArculus.com.

 

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements are based on various assumptions, whether or not identified in this Press Release, and on the current expectations of the Company’s management and are not predictions of actual performance. Although the Company believes that its plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, the Company cannot assure you that it will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning the Company’s possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. In some instances, these statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates” or “intends” or the negatives of these terms or variations of them or similar terminology. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements which speak only as of the date hereof. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. You should understand that the following important factors, among others, could affect the Company’s future results and could cause those results or other outcomes to differ materially from those expressed or implied in the Company’s forward-looking statements: the ability of the Company to grow and manage growth profitably, maintain relationships with customers, compete within its industry and retain its key employees; the possibility that the Company may be adversely impacted by other economic conditions (including the rapidly evolving conflict between Russian and the Ukraine), business, and/or competitive factors; future exchange and interest rates; and other risks and uncertainties included under “Risk Factors” in the Company’s filings that have been made or will be made with the Securities and Exchange Commission from time to time. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that CompoSecure does not presently know or that CompoSecure currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. However, while CompoSecure may elect to update these forward-looking statements at some point in the future, the Company undertakes no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contacts

Anthony Piniella

917-208-7724

apiniella@composecure.com

Categories
Business News Now!

Prudential Financial 2021 ESG Report details long-term commitment to realize future vision

Prudential Financial, Inc. released its annual environmental, social and governance report, which provides a comprehensive overview of the company’s efforts to drive sustainability and increased value to stakeholders.

 

NEWARK, N.J. — (BUSINESS WIRE) — Prudential Financial, Inc. (NYSE: PRU) today released its annual environmental, social and governance (ESG) report, which provides a comprehensive overview of the company’s efforts to drive sustainability and increased value to the customers, shareholders, employees and communities it serves.

The 2021 ESG Report underscores how Prudential’s ongoing sustainability commitments enable the company to fulfill its purpose of making lives better by solving the financial challenges of our changing world and achieve its recently rolled-out vision: to become a global leader in expanding access to investing, insurance, and retirement security.

 

“In 2021, we reinforced our efforts to drive sustainability with significant enhancements to our ESG practices,” said Charles Lowrey, chairman and CEO of Prudential. “As a global insurer and investment manager, we recognize the urgent need to play our part in addressing issues facing society. Sustainability will remain integral to our ability to fulfill our purpose, achieve our Vision and Strategy, and deliver on our long-term promises to our customers and other stakeholders.”

 

Highlights from the report include:

  • New standards and commitments 

    Prudential announced its intention to achieve net zero emissions across primary domestic and international home office operations by 2050, with an interim goal to become carbon neutral by 2040. Additionally, the report features the Chief Investment Office’s Responsible Investing Policy that advances the General Account’s responsible investing strategy and defines six core principles most important to Prudential. As part of this updated policy, Prudential introduced restrictions on new direct investments in companies that derive a material portion of their revenues from thermal coal.PGIM appointed a global head of ESG, responsible for shaping and coordinating the ESG strategy and approach across its operations.

  • Long-standing work to drive social progress 

    The Prudential Foundation surpassed a historic milestone of $1 billion in total contributions since its inception in 1978, representing the company’s long-standing work to drive social progress.

  • Commitment to transparency and accountability 

    Prudential continued to disclose EEO-1 data on U.S. employee representation and the results of a comprehensive analysis on pay equity conducted across the U.S. workforce.

 

Prudential’s 2021 ESG Report incorporates stakeholder feedback and reflects the company’s ongoing environmental, social and governance initiatives.

 

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’s 2021 ESG Report, along with previous years’ sustainability reports.

 

About Prudential Financial

Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with more than $1.5 trillion in assets under management as of March 31, 2022, 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

Katherine DeBerry, katherine.deberry@prudential.com, 973-568-4195

Categories
Healthcare News Now! Science

Quizartinib plus chemotherapy significantly improved overall survival compared to chemotherapy in patients with newly diagnosed FLT3-ITD positive acute myeloid leukemia

  • Doubling of median overall survival seen in QuANTUM-First results presented at EHA Presidential Symposium
  • Data support potential of quizartinib as targeted therapy for aggressive FLT3-ITD subtype of AML

 

TOKYO & BASKING RIDGE, N.J. — (BUSINESS WIRE) — Positive results from the global pivotal QuANTUM-First phase 3 trial of Daiichi Sankyo’s (TSE:5468) quizartinib combined with standard induction and consolidation chemotherapy and then continued as a single agent demonstrated a statistically significant and clinically meaningful improvement in overall survival (OS) in adult patients aged 18-75 with newly diagnosed FLT3-ITD positive acute myeloid leukemia (AML) compared to standard chemotherapy alone. The data were featured as part of the press program and presented during the Presidential Symposium (#S100) at the European Hematology Association (#EHA2022) Congress.

AML is one of the most common leukemias in adults with an estimated five-year survival rate of approximately 30.5%.1,2 Of all newly diagnosed cases of AML, 25% carry the FLT3-ITD gene mutation, which is associated with particularly unfavorable prognosis including increased risk of relapse and shorter overall survival.3

 

Quizartinib combined with standard induction and consolidation chemotherapy and then continued as a single agent demonstrated a 22.4% reduction in the risk of death compared to standard chemotherapy alone (HR = 0.776 [95% CI: 0.615-0.979; 2-sided p=.0324]) in patients with newly diagnosed FLT3-ITD positive AML. After a median follow-up of 39.2 months, median OS was more than double at 31.9 months for patients receiving quizartinib (95% CI: 21.0-NE) compared to 15.1 months for patients receiving chemotherapy (95% CI: 13.2-26.2).

 

The safety of quizartinib combined with intensive chemotherapy and as continuation monotherapy in QuANTUM-First was generally manageable, with no new safety signals observed. Rates of grade 3 or higher treatment emergent adverse events (TEAEs) were similar for both study groups and the most common grade 3 or higher TEAEs occurring in ≥ 10% of patients were febrile neutropenia (43.4% quizartinib; 41.0% placebo), neutropenia (18% quizartinib; 8.6% placebo), hypokalemia (18.9% quizartinib; 16.4% placebo) and pneumonia (11.7% quizartinib; 12.7% placebo). Rates of TEAEs associated with fatal outcomes were 11.3% for quizartinib versus 9.7% for chemotherapy alone and were mainly due to infections.

 

QTcF > 500 ms occurred in 2.3% of patients receiving quizartinib and 0.8% of patients discontinued quizartinib due to QT prolongation. Ventricular arrhythmia events with quizartinib were uncommon. Two (0.8%) patients experienced cardiac arrest with recorded ventricular fibrillation on ECG (one with fatal outcome) both in the setting of severe hypokalemia.

 

“The QuANTUM-First results show that adding quizartinib to standard chemotherapy significantly improved overall survival in patients with newly diagnosed FLT3-ITD positive acute myeloid leukemia,” said Harry P. Erba, MD, PhD, Instructor, Department of Medicine, Division of Hematologic Malignancies and Cellular Therapy, Duke Cancer Institute. “There is great interest in the increased use of targeted therapies to improve outcomes for patients with AML, particularly those with the FLT3-ITD subtype, which is one of the most common, aggressive and difficult-to-treat.”

 

“We are proud that another one of our medicines has demonstrated a significant survival advantage, as our goal is to leverage innovative science to change the way cancer is treated,” said Ken Takeshita, MD, Global Head, R&D, Daiichi Sankyo. “Adding targeted treatment with quizartinib, a potent and selective FLT3 inhibitor, to standard chemotherapy resulted in a doubling of median overall survival in patients with newly diagnosed FLT3-ITD positive acute myeloid leukemia compared to standard chemotherapy alone. Based on these positive QuANTUM-First results, we have initiated global regulatory filings in order to bring quizartinib to patients as quickly as possible.”

 

The OS improvement with quizartinib was also supported by a sensitivity analysis censoring for the effect of allogenic hematopoietic stem cell transplant (HSCT) (HR = 0.752; [95% CI: 0.562-1.008]).

 

Additional secondary and exploratory analyses provide further understanding and some supporting evidence for improved OS in patients receiving quizartinib combined with chemotherapy in the trial.

 

The primary event-free survival (EFS) analysis (with induction treatment failure (ITF) defined as not achieving complete remission (CR) by day 42 of the last induction cycle), did not show a statistically significant difference between the two study arms; two pre-specified sensitivity analyses on EFS (the first one defining ITF as not achieving CR by the end of induction; the second one defining ITF as having not achieved composite complete remission (CRc) by the end of induction) showed HR = 0.818 [95% CI: 0.669, 0.999] and HR = 0.729 [95% CI: 0.592-0.897], respectively.

 

The CRc rate was numerically higher for patients receiving quizartinib compared to chemotherapy alone (71.6% versus 64.9%), and rates of CR were similar for the two study arms (54.9% and 55.4%). The median duration of CR was 38.6 months for quizartinib (95% CI: 21.9-NE) and 12.4 months for chemotherapy (95% CI: 8.8-22.7).

 

The median relapse-free survival (RFS) for patients who achieved CR was 39.3 months for quizartinib and 13.6 months for placebo, representing a 38.7% relative risk reduction of relapse or death (HR = 0.613 [95% CI: 0.444-0.845]).

 

Summary of QuANTUM-First Results for OS

Efficacy Measure*

Quizartinib +

Chemotherapy

N=268

Placebo +

Chemotherapy

N=271

HR

(95% CI)

OS Primary Analysis

Median OS (95% CI)

31.9 months

(21.0 – NE)

15.1 months

(13.2 – 26.2)

HR = 0.776

(0.615 – 0.979)

2-sided p = 0.0324

 

*A hierarchical testing procedure was used to test the primary endpoint OS, followed by EFS, CR and CRc. Formal statistical testing was stopped after EFS as its result was not statistically significant.

Data cut-off: August 13, 2021

Abbreviations: HR = Hazard ratio; NE = not estimable; OS = overall survival

 

About QuANTUM-First

QuANTUM-First is a randomized, double-blind, placebo-controlled global phase 3 study evaluating quizartinib in combination with standard induction and consolidation chemotherapy and then as continued single agent therapy in adult patients (aged 18-75) with newly diagnosed FLT3-ITD positive AML. Patients were randomized 1:1 into two treatment groups to receive quizartinib or placebo combined with anthracycline- and cytarabine-based regimens. Eligible patients, including those who underwent allogeneic HSCT, continued with single agent quizartinib or placebo for up to 36 cycles.

 

The primary study endpoint was OS. Secondary endpoints include EFS, post-induction rates of CR and CRc, and the percentage of patients who achieve CR or CRc with FLT3-ITD minimal residual disease negativity. Safety and pharmacokinetics, along with exploratory efficacy and biomarker endpoints, also were evaluated. QuANTUM-First enrolled 539 patients at 193 study sites across Asia, Europe, North America, Oceania and South America. For more information, visit ClinicalTrials.gov.

 

About Acute Myeloid Leukemia (AML)

More than 474,500 new cases of leukemia were reported globally in 2020 with more than 311,500 deaths.4 AML is one of the most common types of leukemia in adults, representing about one-third of all cases, and the average age of diagnosis is 68 years old.1 The five-year survival rate for AML is 30.5%, the lowest by far among the major leukemia subtypes, and is 9.4% for patients aged 65 and older.5,6,7 The conventional treatment for newly diagnosed AML is intensive induction and consolidation chemotherapy with HSCT for eligible patients.8 The introduction of new targeted therapies in recent years has added to the standard of care and improved outcomes for some patients with molecularly defined AML subtypes.9

 

About FLT3-ITD

FLT3 (FMS-like tyrosine kinase 3) is a tyrosine kinase receptor protein normally expressed by hematopoietic stem cells that plays an important role in cell development, promoting cell survival, growth and differentiation through various signaling pathways.3 Mutations of the FLT3 gene, which occur in approximately 30% of AML patients, can drive oncogenic signaling.3 FLT3-ITD (internal tandem duplication) is the most common type of FLT3 mutation in AML, occurring in about 25% of all newly diagnosed patients, and is associated with increased risk of relapse and shorter overall survival.3

 

About Quizartinib

Quizartinib is an oral, highly potent and selective type II FLT3 inhibitor currently in clinical development for the treatment of FLT3-ITD positive AML.3 In addition to QuANTUM-First, the quizartinib development program includes a phase 1/2 trial in pediatric and young adult patients with relapsed/refractory FLT3-ITD AML in Europe and North America. Several phase 1/2 combination studies with quizartinib are also underway at The University of Texas MD Anderson Cancer Center as part of a strategic research collaboration focused on accelerating development of Daiichi Sankyo pipeline therapies for AML.

 

Quizartinib has received Fast Track Designation from the U.S. Food and Drug Administration for the treatment of adult patients with newly diagnosed AML that is FLT3-ITD positive, in combination with standard cytarabine and anthracycline induction and cytarabine consolidation. Orphan Drug Designation has been granted to quizartinib for the treatment of AML in Europe, Japan and the U.S.

 

Quizartinib is currently approved for use in Japan under the brand name VANFLYTA® for the treatment of adult patients with relapsed/refractory FLT3-ITD AML, as detected by an approved test. Quizartinib is an investigational medicine in all countries outside of Japan.

 

About Daiichi Sankyo

Daiichi Sankyo is dedicated to creating new modalities and innovative medicines by leveraging our world-class science and technology for our purpose “to contribute to the enrichment of quality of life around the world.” In addition to our current portfolio of medicines for cancer and cardiovascular disease, Daiichi Sankyo is primarily focused on developing novel therapies for people with cancer as well as other diseases with high unmet medical needs. With more than 100 years of scientific expertise and a presence in more than 20 countries, Daiichi Sankyo and its 16,000 employees around the world draw upon a rich legacy of innovation to realize our 2030 Vision to become an “Innovative Global Healthcare Company Contributing to the Sustainable Development of Society.” For more information, please visit www.daiichisankyo.com.

 

References

1 American Cancer Society. Key Statistics for Acute Myeloid Leukemia. Updated January 2020.

2 National Cancer Institute SEER Program. Cancer Stat Facts: Acute Myeloid Leukemia
3 Daver N et al. Leukemia. (2019) 33:299–312.

4 Global Cancer Observatory. Population Fact Sheet: World. Updated November 2020.

5 National Cancer Institute SEER Program. Cancer Stat Facts: Acute Myeloid Leukemia: 5-Year Survival Rates
6 Leukemia and Lymphoma Society. Facts and Statistics. Leukemia: Survival
7 National Cancer Institute SEER Explorer. Acute Myeloid Leukemia: 5-Year Survival Rates by Age
8 Daver et al. Blood Cancer J (2020) 10(10):107

9 Short et al. Cancer Discov. (2020);10:506–25.

Contacts

Global/US:
Jennifer Brennan

Daiichi Sankyo, Inc.

jbrennan2@dsi.com
+1 908 992 6631 (office)

+1 908 900 3183 (mobile)

Japan:
Masashi Kawase

Daiichi Sankyo Co., Ltd.

kawase.masashi.a2@daiichisankyo.co.jp
+81 3 6225 1126 (office)

Investor Relations Contact:
DaiichiSankyoIR@daiichisankyo.co.jp

Categories
Business Lifestyle News Now!

Best’s Special Report: Despite fair results for U.S. property/casualty industry in 2021, certain lines still lagging behind

OLDWICK, N.J. — (BUSINESS WIRE) — Despite premium growth of more than 9%, U.S. property/casualty (P/C) insurers still incurred an $3 billion underwriting loss in 2021, reflecting the challenges in specific lines of business, including private passenger auto, which experienced a 24% increase in incurred losses, according to an AM Best report.

The 2021 financial results on each individual line of P/C business, along with corresponding analysis, are detailed in a new Best’s Special Report, titled, “Property/Casualty Snapshot: Insurers Navigate Pandemic and Elevated Secondary Perils,” and the data is derived from companies’ statutory statements that were received by May 19, 2022.

 

The report notes that underwriting loss in 2021 followed a $4.4 billion underwriting gain in 2020. Catastrophe losses remained elevated, adding eight points to the P/C industry’s combined ratio of 99.5. “Property/casualty insurers’ enterprise risk management skills have been put to the test the last couple of years,” said David Blades, associate director, industry research and analytics. “Property underwriters are facing primary and secondary peril catastrophe risks that have reverberated throughout the reinsurance market, further pressuring underwriters of homeowners/farmowners coverage and of commercial property.”

 

Numerous factors specific to the auto, medical professional liability, and general (other) liability (occurrence and claims-made) lines of business continue to pose notable challenges to underwriters. Loss severity in the private passenger and commercial auto segments show no signs of abating, with personal auto writers suffering their second-worst underwriting results in five years. Although the medical professional liability line improved its underwriting results, the segment still posted an $834 million loss on an 8% increase in incurred losses. Loss costs continue to plague the general liability lines, though years of rate increases have enabled carriers to grow top line premium.

 

“Across the industry, claims costs, social inflation and nuclear verdicts continue to pressure results,” said Christopher Graham, senior industry analyst, AM Best. “Other issues such as social unrest, cyber attacks and extreme climate-related events have made setting year-end reserves more challenging. Together with economic inflation and the possibility of a recession, many P/C insurers’ bottom-line profitability could suffer in 2022.”

 

To access the full copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=320760.

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 © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Christopher Graham
Senior Industry Analyst, Industry
Research and Analytics
+1 908 439 2200, ext. 5743
christopher.graham@ambest.com

David Blades
Associate Director, Industry
Research and Analytics
+1 908 439 2200, ext. 5422
david.blades@ambest.com

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

Jeff Mango
Managing Director,
Strategy & Communications
+1 908 439 2200, ext. 5204
jeffrey.mango@ambest.com

Categories
Business News Now!

AM Best upgrades credit ratings of Anchor General Insurance Company and Pacific Star Insurance Company

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance—AM Best has upgraded the Financial Strength Rating to B+ (Good) from B (Fair) and the Long-Term Issuer Credit Ratings to “bbb-” (Good) from “bb+” (Fair) of Anchor General Insurance Company (Anchor General) (San Diego, CA) and Pacific Star Insurance Company (Pacific Star) (Madison, WI), which is a subsidiary of Anchor General. The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

The ratings of Anchor General reflect its balance sheet strength, which AM Best assesses as adequate, as well as adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). The ratings of Pacific Star reflect its balance sheet strength, which AM Best assesses as very strong, as well as adequate operating performance, limited business profile, appropriate ERM, and rating drag due to its direct ownership by Anchor General.

 

The revision of Anchor General’s ratings is based on its increased balance sheet strength in recent years, primarily driven by improved policyholders’ surplus growth, stabilized loss reserving trends and reduced underwriting leverage measures over a five-year period. However, Anchor General’s net premium written is projected to increase significantly in 2022 due to a change in its quota share retention to 55% versus 15% in prior years. Management’s decision is to retain more of the profitable business, which presents the opportunity to take rate increases on the new renewal book of business and the focus continues to be on core historically profitable producers. The revision of Pacific Star’s ratings is based on reduced rating drag from its parent, Anchor General.

 

The management of Anchor General and Pacific Star has implemented numerous corrective initiatives and strategies in earlier part of the past five-year period, which included significant rate increases, agency management and risk mitigation initiatives. As a result, the impact of these changes has materially improved Anchor General and Pacific Star’s underwriting and operating results, surplus position, along with the companies’ risk-adjusted capitalization. These positive rating factors are partially offset by Anchor General and Pacific Star’s limited business profiles, primarily due to geographic and product concentration as predominantly California private passenger non-standard auto writers, which exposes both companies to market, regulatory, legislative and judicial risks.

 

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 © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Adib Nassery
Senior Financial Analyst
+1 908 439 2200, ext. 5205
adib.nassery@ambest.com

Brian O’Larte
Director
+1 908 439 2200, ext. 5138
brian.o’larte@ambest.com

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

Jeff Mango
Managing Director,
Strategy & Communications
+1 908 439 2200, ext. 5204
jeffrey.mango@ambest.com

Categories
Environment News Now!

American Water Charitable Foundation announces last call for water and environment grant applications

CAMDEN, N.J. — (BUSINESS WIRE) — The American Water Charitable Foundation, a 501(c)3 organization established by American Water, the largest publicly traded U.S. water and wastewater utility company, announces last call for Water and Environment grant applications with a submission deadline of June 30, 2022.

The Water and Environment grant opportunity, part of the Foundation’s Keep Communities Flowing Grant Program, supports projects or programs focused on clean water, conservation, environmental education, climate variability and water-based recreation projects, including splashpads. Eligible organizations can apply here.

 

“The American Water Charitable Foundation’s Keep Communities Flowing Grant Program supports impactful initiatives and programs throughout American Water’s national footprint,” said Carrie Williams, president of the American Water Charitable Foundation. “The Water and the Environment grant will fund efforts focused on our core passion – water – while engaging community members in learning how every drop counts.”

 

The Keep Communities Flowing Grant Program focuses on three pillars of giving: Water, People and Communities. Within these pillars, three new grant opportunities will be available to eligible non-profit organizations throughout the year. Each grant cycle will be open for approximately 90 days. In addition to the Water and Environment grant, a Workforce Readiness grant opportunity will launch in July 2022 followed by STEM Education in October 2022.

 

Since 2012, the American Water Charitable Foundation has invested more than $9 million in funding through grants and matching gifts that are important to our employees and positively impacting our communities.

 

About American Water

With a history dating back to 1886, American Water (NYSE: AWK) is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 6,400 dedicated professionals who provide regulated and regulated-like drinking water and wastewater services to more than 14 million people in 24 states. American Water provides safe, clean, affordable and reliable water services to our customers to help keep their lives flowing. For more information, visit amwater.com and diversityataw.com. Follow American Water on Twitter, Facebook and LinkedIn.

 

American Water Charitable Foundation

The American Water Charitable Foundation is a 501(c)(3) nonprofit organization that provides a formal way to demonstrate the company’s ongoing commitment to be a good neighbor, citizen, and contributor to the communities where American Water and its employees live, work and operate. For more information, visit amwater.com/awcf and follow the American Water Charitable Foundation on Facebook.

Contacts

Media Contact:
Joseph Szafran

External Affairs Manager

(856) 955-4304

joseph.szafran@amwater.com

Categories
Culture Local News News Now!

Mercer County to hold Memorial Day observance

Photo: Veterans’ memorial in Greenwood Cemetery, Hamilton

 

 

TRENTON, N.J. — Mercer County’s annual Memorial Day observance will take place Sunday, May 29, at 11 a.m. in the Veteran Section at Greenwood Cemetery, 1800 Hamilton Ave., Hamilton.

“I encourage everyone to pause during the holiday weekend to honor the men and women of our armed forces who gave their lives protecting our freedom,” said Mercer County Executive Brian M. Hughes. “All are invited to attend the county’s annual remembrance service at Greenwood Cemetery.”

Col. Walter F. Conner, USMC (Ret), will deliver the keynote address at the event, which is organized each year by the Mercer County Division of Veteran Services.

Categories
Business Lifestyle News Now! Science

NEW ASCO Power blogs on data center industry innovation

Accessible through the Schneider Electric Blog site, read the new ASCO Power Technologies post about Powering Data Centers Through COVID-19 and Other Challenges.

FLORHAM PARK, N.J. — (BUSINESS WIRE) — ASCO Power Technologies, the world’s leading provider of critical power solutions, has released its newest blog post, which highlights the latest electrical infrastructure and backup power topics for data centers. It shares insights and industry knowledge from a leader who solves backup power challenges every day. The article is accessible through the Schneider Electric Blog site.

 

The new May 2022 post, Powering Data Centers Through COVID-19 and Other Challenges, presents key points from an ASCO Power Innovation Talk Webinar on data center trends and challenges with Gary Russinko, Principal at kW Mission Critical Engineering.

 

The article explores four topics:

  • How COVID-19 impacted data centers
  • Responding changes in data center design
  • The emerging demand for sustainability in data center operations
  • The benefits digitization brings to data center operators

 

ASCO Power blog posts add to the body of education for critical power systems and provide valuable information for power industry professionals, engineers, facility managers, and technicians. Each successive post links to recorded interviews along with supplemental technical briefs, white papers, application notes, or case studies that are relevant to each topic. Reader can access the newest post here, and can access the entire series of ASCO Power though leadership blogs at ASCO Blogs.

 

About ASCO Power Technologies

ASCO Power Technologies has provided power reliability solutions for more than 125 years. The firm designs, manufactures, services, and supports automatic transfer switches, power control equipment, load banks, and critical power management appliances. ASCO products serve mission-critical functions in data centers, healthcare facilities, telecommunication networks, commercial buildings, and industrial operations. To learn more about any of ASCO’s premium products and services, call (800) 800 ASCO (2726), email CustomerCare@Ascopower.com, or visit www.ascopower.com. To receive updates on the latest news and updates, follow ASCO’s Facebook and LinkedIn.

Contacts

Laurence Grodsky

+ 1 973 307 7352

Larry.Grodsky@ascopower.com