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Dr. Reddy’s Laboratories announces the launch of Lenalidomide Capsules in the U.S. with two of six strengths eligible for first-to-market, 180-day exclusivity

HYDERABAD, India & PRINCETON, N.J. — (BUSINESS WIRE) — $RDY #Affordablemedicines–Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY, along with its subsidiaries together referred to as “Dr. Reddy’s”) today announced the launch, in the U.S. market, of Lenalidomide Capsules, a therapeutic equivalent generic version of REVLIMID® (lenalidomide) Capsules approved by U.S. Food and Drug Administration (USFDA). With this volume-limited launch, Dr. Reddy’s is eligible for first-to-market, 180 days of generic drug exclusivity for Lenalidomide Capsules in 2.5 mg and 20 mg strengths.

“We are pleased with the first-to-market launch of two of our six strengths of Lenalidomide Capsules with 180-day market exclusivity,” says Marc Kikuchi, CEO, North America Generics, Dr. Reddy’s Laboratories. “Bringing a more affordable generic version to market creates greater patient access for this important drug.”

 

As previously announced, Celgene agreed to provide Dr. Reddy’s with a license to sell volume-limited amounts of generic lenalidomide capsules in the U.S. in settlement of all outstanding claims of its litigation. The agreed-upon percentages remain confidential. As part of the settlement, Dr. Reddy’s is also licensed to sell generic lenalidomide capsules in the U.S. without volume limitation beginning on January 31, 2026.

 

Dr. Reddy’s Lenalidomide Capsules are available in strengths of 2.5 mg, 5 mg, and 10 mg, each in a bottle-count size of 28, as well as 15 mg, 20 mg, and 25 mg strengths, each in a bottle-count size of 21.

 

Please click here to see the full prescribing information, along with boxed warning for Dr. Reddy’s Lenalidomide Capsules.

 

WARNING: EMBRYO-FETAL TOXICITY, HEMATOLOGIC TOXICITY,

and VENOUS and ARTERIAL THROMBOEMBOLISM

See full prescribing information for complete boxed warning.

EMBRYO-FETAL TOXICITY

  • Lenalidomide, a thalidomide analogue, caused limb abnormalities in a developmental monkey study similar to birth defects caused by thalidomide in humans. If lenalidomide is used during pregnancy, it may cause birth defects or embryo-fetal death.
  • Pregnancy must be excluded before start of treatment. Prevent pregnancy during treatment by the use of two reliable methods of contraception.

Lenalidomide capsules are available only through a restricted distribution program, called the Lenalidomide REMS program.

HEMATOLOGIC TOXICITY.

Lenalidomide can cause significant neutropenia and thrombocytopenia.

VENOUS AND ARTERIAL THROMBOEMBOLISM

  • Significantly increased risk of deep vein thrombosis (DVT) and pulmonary embolism (PE), as well as risk of myocardial infarction and stroke in patients with multiple myeloma receiving lenalidomide with dexamethasone. Anti-thrombotic prophylaxis is recommended.

 

Revlimid® is a trademark of Celgene, a wholly-owned subsidiary of Bristol Myers Squibb.

 

RDY-0822-441

About Dr. Reddy’s: Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Dr. Reddy’s offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr. Reddy’s operates in markets across the globe. Our major markets include – USA, India, Russia & CIS countries, and Europe. For more information, log on to: www.drreddys.com

 

Disclaimer: This press release may include statements of future expectations and other forward-looking statements that are based on the management’s current views and assumptions and involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may”, “will”, “should”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential”, or “continue” and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to without limitation, (i) general economic conditions such as performance of financial markets, credit defaults , currency exchange rates, interest rates, persistency levels and frequency / severity of insured loss events, (ii) mortality and morbidity levels and trends, (iii) changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the policies of central banks and/or governments, (v) the impact of acquisitions or reorganization, including related integration issues, and (vi) the susceptibility of our industry and the markets addressed by our, and our customers’, products and services to economic downturns as a result of natural disasters, epidemics, pandemics or other widespread illness, including coronavirus (or COVID-19), and (vii) other risks and uncertainties identified in our public filings with the Securities and Exchange Commission, including those listed under the “Risk Factors” and “Forward-Looking Statements” sections of our Annual Report on Form 20-F for the year ended March 31, 2022. The company assumes no obligation to update any information contained herein.

Contacts

INVESTOR RELATIONS
AMIT AGARWAL amita@drreddys.com

MEDIA RELATIONS
USHA IYER

USHAIYER@DRREDDYS.COM

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Business Culture Lifestyle

Solidia Technologies names Brian Below Chief Operating Officer

International building materials, manufacturing, and product launch expert brings over 20 years’ experience to leadership team

 

PISCATAWAY, N.J. — (BUSINESS WIRE) — #CO2—Solidia Technologies® today named international building materials leader and intrepreneur Brian Below chief operating officer. Below brings over 20 years of experience building and scaling commercial products, developing teams to achieve top performance, and driving new and innovative business ventures from initial concept through first sales and profitability.


“I am thrilled to join the Solidia team to help accelerate the momentum towards commercial success,” said Below. “With Solidia’s game-changing technology, we can deliver high-performance solutions to help address the increasingly complex challenges and needs of our industry.”

 

An experienced operations leader, Below most recently served as CEO of Fabral, part of OmniMax International, LLC., the premier supplier of metal roofing and wall panel solutions to the residential, commercial, industrial, and architectural sectors. Prior to that, as a division president at Boral North America, he was responsible for the strategic direction and operating performance of the building products division – a roughly $300M premium siding, trim, and accessory products business with approximately 900 employees and eight manufacturing sites. He also previously served Boral in a variety of leadership roles, including overseeing the launch of start-up business unit Boral Composites, with the evolution of a novel green building product technology from initial concept to commercialization and rapid sales growth.

 

“With his industry experience and track record building teams and driving sustainable innovation from lab to market success, Brian Below is a perfect addition as we pivot aggressively towards the market,” said Solidia CEO Russell Hill, Ph.D. “Solidia is the right technology at the right time. With Brian, we have deepened our bench of talented leaders to help usher in the next generation of building materials.”

 

Below was awarded an MBA from UCLA Anderson School of Management and a BS in Chemical Engineering from Georgia Institute of Technology.

 

About Solidia Technologies

Based in Piscataway, N.J. (USA), Solidia Technologies® is a leading provider of decarbonization technologies and sustainable solutions to the construction and building materials industries. Investors include Imperative Ventures, Zero Carbon Partners, Canada Pension Plan Investment Board (CPP Investments), Breakthrough Energy Ventures, Prelude Ventures, PIVA Capital, John Doerr, BP, OGCI Climate Investments, Bill Joy, Kleiner Perkins, BASF Venture Capital, Holcim, Total Carbon Neutrality Ventures, Air Liquide Venture Capital (ALIAD), and other private investors. Follow Solidia on LinkedIn, Instagram, Twitter, and YouTube.

Contacts

Ellen Yui, YUI&Company, Inc.

o: 301-270-8571, m: 301-332-4135

ellenyui@yuico.com

Categories
Business Lifestyle

T-Mobile 5G Home Internet takes over the Northeast

The Un-carrier is leveraging its massive 5G network to expand Home Internet access in 64 cities and towns in six states, where more than three million households still have no access to home broadband.

 

BELLEVUE, Wash. — (BUSINESS WIRE) — Watch out Big Internet, T-Mobile is turning the Northeast magenta! Today, T-Mobile (NASDAQ: TMUS) announced it has expanded the footprint of its 5G Home Internet service across Connecticut, Maryland, Massachusetts, New Jersey, New York and Pennsylvania, where more than three million households still have no access to home broadband. With this latest expansion, more than 9 million homes throughout these states are now eligible for T-Mobile Home Internet.


Fast, reliable home broadband has never been more important, but for families across the country, access to home broadband is still out of reach. In Connecticut alone, more than 320,000 households – approximately 23% of total homes across the state – and more than 100,000 children lack high-speed internet. And in Pennsylvania, more than 800,000 residents lack access, with more than 500,000 of those living in rural areas. And it doesn’t stop there, a 2021 study by BroadbandNow confirms that more than 42 million people nationwide do not have access to broadband. That’s a disaster. Luckily, T-Mobile is here to help clean up the mess.

 

Today’s expansion reinforces the continued demand and need for T-Mobile Home Internet and follows recent announcements in California, Texas, the Southeast, Midwest and South. During Q2 earnings, T-Mobile announced that it now has more than 1.5 million Home Internet customers, making it the fastest growing broadband provider for the third quarter in a row. Now, more than 40 million households – a third of them in rural America – are eligible for 5G Home Internet. They’ll get broadband speeds that handle multiple devices at the same time for working, streaming, zooming, online learning, gaming and more!

 

What People Are Saying

“Here in Connecticut, our administration has made expanding access to broadband internet a top priority because until we tackle our underserved broadband challenges in our urban, suburban, and rural areas, we will not have equitable access for all and achieve the economic recovery that we need,” said Connecticut Governor Ned Lamont. “As we continue our focus to ensure Connecticut residents are connected, I am glad that we have partners like T-Mobile that are working to address this need, as well.”

 

“Rochester is lucky to be one of 64 cities in the Northeast where T-Mobile is expanding their Home Internet service to thousands more households,” said Greater Rochester Chamber of Commerce President and CEO Bob Duffy. “We thank T-Mobile for their investment in our region, which will help many more individuals and families work, learn, and stay remotely connected in today’s rapidly shifting world.”

 

“Expanding broadband in my district and throughout the commonwealth has always been a longtime priority of mine,” said Senator Sal DiDomenico, Assistant Majority Leader of the Massachusetts Senate. “I want to thank T-Mobile for their investment in our area. This will allow more of our communities access to reliable internet.”

 

“Millions of people across this country still have little to no choice when it comes to home broadband. That’s because traditional ISPs have continued to underserve customers year after year, even as reliance on connectivity grows,” said Mike Katz, Chief Marketing Officer at T-Mobile. “So today, we’re doubling down on our mission to bring connectivity to more people, expanding Home Internet in states across the Northeast. As we’ve seen quarter after quarter, people are desperate for a new option in home broadband. With 5G Home Internet, we’re delivering just that.”

 

About T-Mobile Home Internet

T-Mobile 5G Home Internet is home internet for just $50 a month with AutoPay, or $30 per month for families with Magenta MAX, T-Mobile’s most popular phone plan. It’s fast and reliable home broadband without all the Big Internet BS.

 

  • It’s a flat rate. No added taxes or monthly fees, no equipment costs, no annual contracts and no price hikes.
  • It’s 100% wireless, so setup is simple. Get a gateway in the mail, plug it in, download the app and connect in less than 15 minutes. No waiting for installation. No holes to drill.
  • And with T-Mobile’s recent Un-carrier move, Internet Freedom, customers can test drive Home Internet worry-free, break up with their provider and T-Mobile will cover the cost up to $500, and lock in their price with T-Mobile’s Price Lock guarantee.
  • If you need support, T-Mobile’s dedicated team of experts is just a call or message away.

 

Expanded Access

5G Home Internet is available to more than 40 million homes nationwide. And now, millions more homes in Connecticut, Maryland, Massachusetts, New Jersey, New York and Pennsylvania are eligible for 5G Home Internet too. Availability is based on network capacity, which is increasing all the time. Check if T-Mobile Home Internet is available for your home at https://www.t-mobile.com/isp.

 

Connecticut

  • Bridgeport-Stamford-Norwalk
  • Hartford-East Hartford-Middletown
  • New Haven-Milford
  • Norwich-New London
  • Torrington

Maryland

  • Baltimore-Columbia-Towson
  • California-Lexington Park
  • Easton
  • Hagerstown-Martinsburg
  • Salisbury

Massachusetts

  • Barnstable
  • Boston-Cambridge-Newton
  • Springfield
  • Vineyard Haven
  • Worcester

New Jersey

  • Atlantic City-Hammonton
  • Ocean City
  • Trenton-Princeton
  • Vineland-Bridgeton

New York

  • Albany-Schenectady-Troy
  • Amsterdam
  • Auburn
  • Batavia
  • Binghamton
  • Buffalo-Cheektowaga
  • Corning
  • Cortland
  • Elmira
  • Glens Falls
  • Hudson
  • Ithaca
  • Jamestown-Dunkirk-Fredonia
  • Kingston
  • Malone
  • New York-Newark-Jersey City
  • Ogdensburg-Massena
  • Olean
  • Oneonta
  • Plattsburgh
  • Poughkeepsie-Newburgh-Middletown
  • Rochester
  • Seneca Falls
  • Syracuse
  • Utica-Rome
  • Watertown-Fort Drum

Pennsylvania

  • Allentown-Bethlehem-Easton
  • Bloomsburg-Berwick
  • Chambersburg-Waynesboro
  • East Stroudsburg
  • Erie
  • Lancaster
  • Lebanon
  • Lewisburg
  • Lock Haven
  • New Castle
  • Oil City
  • Philadelphia-Camden-Wilmington
  • Pittsburgh
  • Pottsville
  • Reading
  • Sayre
  • Scranton-Wilkes-Barre
  • Sunbury
  • York-Hanover

Not available in all areas; customers ineligible for 5G Home Internet may be eligible for 4G LTE or other fixed wireless options. During congestion, Home Internet customers may notice speeds lower than other customers due to data prioritization. For use only at location provided at activation. Credit approval required. AutoPay: $5/mo. discount may not reflect on 1st bill. Regulatory fees included in monthly service price for qualifying accounts. If canceling Home Internet service, return gateway or pay up to $370. $30/mo. for families with 2+ qualifying Magenta MAX lines and Home Internet Service. Via $20 monthly bill credit. Credits may take up to 2 bill cycles; credits will stop if you cancel any lines or change plans. Price Lock guarantees your regular monthly rate for your current qualified home internet service plan (excludes taxes/fees, limited-time promotions, per-use charges, third-party services, devices and network management practices).

 

About T-Mobile

T-Mobile US, Inc. (NASDAQ: TMUS) is America’s supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. T-Mobile’s customers benefit from its unmatched combination of value and quality, unwavering obsession with offering them the best possible service experience and undisputable drive for disruption that creates competition and innovation in wireless and beyond. Based in Bellevue, Wash., T-Mobile provides services through its subsidiaries and operates its flagship brands, T-Mobile, Metro by T-Mobile and Sprint. For more information please visit: https://www.t-mobile.com.

Contacts

Media Contacts

T-Mobile US Media Relations
MediaRelations@t-mobile.com

Investor Relations
investor.relations@t-mobile.com

Categories
Business Healthcare Science

Pioneering radiology center opens in New Jersey, announces ImageCare Radiology

JEFFERSON, N.J. — (BUSINESS WIRE) — #3DMammogram–A pioneering, state-of-the-art radiology center in New Jersey has officially announced its opening date to the public this month.


Set to improve and redefine the medical diagnostic imaging experience for its patients, the new ImageCare Radiology location in Jefferson was launched on September 1, 2022 and will provide the most advanced medical diagnostic imaging to date.

 

Launching initially with their newly-introduced 10-minute 3T MRI scans, those working at the radiology center are excited to be offering patients the fastest medical scans on the market, along with other useful and innovative services that are beyond anything they have been able to offer patients before.

 

“We’ll soon be launching a number of new image and radiology services, but in particular, the introduction of 10-minute MRI scans will be groundbreaking,” said Dr. Clay Hinrichs, President of ImageCare Radiology. “Not only will our patients continue to receive the highest possible service and advanced diagnostic imaging, but they will also be able to take advantage of the fastest 3T scans available. This is useful in many ways, but particularly for patients that are children, are claustrophobic, or living with disabilities. It’s going to make them feel much more comfortable knowing they can still receive detailed and advanced image quality, but will take much less time.”

 

“Many people have previously avoided such scans due to feeling uneasy about tight spaces or being uncomfortable about remaining still for long periods of time, which isn’t ideal because we want to ensure our patients get the best possible service and early diagnosis. Now though, patients no longer need to worry about this and can now also receive accurate imaging within a shorter timeframe,” added Dr. Hinrichs.

 

Alongside the initial 3T MRI scans, the site will also offer the highest resolution of Siemens PET/CT Scans, sedation services with anesthesiologists for all modalities, and Nuclear Medicine – offering bone scans, thyroid function tests, HIDA scans, renal scans and tumor workups. The center is also expected to launch an interventional suite, which will offer lower cost outpatient solutions for procedures including nephrostomy tubes, peripheral vascular studies, MediPorts for cancer therapy, tumor embolizations, and vertebroplasty for spinal fractures.

 

Dr. Clay Hinrichs said that each of the services will be launched gradually, but patient experience will be improved from the very first day of its opening.

 

He concluded, “Following the initial launch of our 10-minute 3T MRI scans, we will also offer mammography, ultrasound with Echocardiography, and X-rays. We will have the first full-service non-hospital nuclear scanner in Northern NJ , and be able to offer lower cost outpatient solutions with our interventional suite. We’re proud to say that our mammograms will be ‘PINK Better Mammo’ with Artificial Intelligence, which is the first FDA approved AI Technology for improved breast cancer detection. We’re also excited for our future opening of CT/PET scanners and sedation for all our services, which is expected to be available to everyone by the end of summer.”

 

Patients looking to book appointments can use the new services starting September 1.

 

Notes to Editors

ImageCare Radiology has centers conveniently located throughout North and Central New Jersey in Bergen, Essex, Hunterdon, Middlesex, Monmouth, Morris, Passaic, Sussex, and Warren Counties.

 

ImageCare is committed to providing the most advanced medical diagnostic imaging to their patients, working to ensure everyone who uses their services are comfortable and at ease. Only recruiting caring and compassionate staff members, and skilled radiologists, they are renowned for their state-of the-art Radiology services including Open and Closed MRIs, Sedation MRIs, Ultrasounds, X-rays, DEXA Bone Density Scans, 3D Mammograms with Artificial Intelligence, Pediatric Radiology, Nuclear Imaging, PET/CT Scans, and Interventional Radiology.

 

For more information on the center or to book an appointment, please visit: www.imagecarecenters.com

 

To contact ImageCare or to organize any interviews regarding the new center, please contact Thomas Wood, Director of Marketing, here: twood@imagecarecenters.com

Contacts

ImageCare

Thomas Wood, Director of Marketing

twood@imagecarecenters.com

Categories
Business International & World

Imperial Dade adds scale in Puerto Rico, acquires International Sales & Marketing

Transaction Represents 53rd Acquisition for Leading Distributor of Foodservice Packaging and Janitorial Sanitation Products

 

JERSEY CITY, N.J. & CATAÑO, Puerto Rico — (BUSINESS WIRE) — Imperial Dade, a leading distributor of foodservice packaging and janitorial supplies, today announced the acquisition of International Sales & Marketing (“ISM” or the “Company”). The transaction represents the 53rd acquisition for Imperial Dade under the leadership of Robert and Jason Tillis, Chairman and CEO of Imperial Dade, respectively. Financial terms of the private transaction were not disclosed.

ISM is a market leading distributor of foodservice and janitorial sanitation products. Owned and operated by Eduardo Lopez, the Company continues its legacy and is known for its knowledgeable sales force, wide breadth of products, and high touch customer service. Now in partnership with Imperial Dade’s market leading platform, ISM’s customers can expect the same exceptional customized service coupled with an even greater offering of products and solutions.

 

“Eduardo runs a fantastic company, and operates with similar values to that of Imperial Dade. I welcome everyone to the Imperial Dade family and greatly look forward to working with the entire team at ISM,” said Robert Tillis. “I am excited for the opportunity to partner with the ISM team to further grow our business in a key market and am confident new and existing customers will benefit from our companies joining together,” said Jason Tillis.

 

“I am excited about the future of ISM under the leadership of Imperial Dade. Our customers will receive the same outstanding service they have come to expect from us and a significantly expanded product offering,” said Eduardo Lopez, owner and CEO of International Sales & Marketing.

 

About Imperial Dade

Founded in 1935, Imperial Dade serves more than 90,000 customers across North America. Since Chairman Robert Tillis and CEO Jason Tillis assumed their roles in 2007, the company has grown both organically and through acquisitions to become a leader in the food service packaging and janitorial supplies industry. For additional information, please visit www.imperialdade.com.

 

Contacts

Imperial Dade

Paul Cervino

(201) 437-7440 x 2302

Categories
Business

AM Best revises under review status to developing for Credits Ratings of American Millennium Insurance Company and Citadel Reinsurance Company Limited

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best has revised the implications of the under review status to developing from negative for the Financial Strength Rating (FSR) of C- (Weak) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “cc” (Very Weak) of American Millennium Insurance Company (AMIC) (Bridgewater, NJ), a wholly owned subsidiary of Citadel Reinsurance Company Limited (Citadel Re) (Hamilton, Bermuda). Additionally, AM Best has revised the implications of the under review status to developing from negative for the FSR of B (Fair) and the Long-Term ICR of “bb” (Fair) of Citadel Re.

The ratings of AMIC reflect its balance sheet strength, which AM Best assesses as very weak, as well as its weak operating performance, limited business profile and marginal enterprise risk management (ERM).

 

The ratings of Citadel Re reflect its balance sheet strength, which AM Best assesses as adequate, as well as its marginal operating performance, neutral business profile and marginal ERM.

 

AM Best downgraded the Credit Ratings (ratings) of both AMIC and Citadel Re in February 2021 and maintained the under review with negative implications status following the downgrade of AMIC’s ratings in October 2020. These rating actions resulted from persistent net underwriting losses that continued into the second half of 2020 and negatively impacted the risk-adjusted capitalization of AMIC, and Citadel Re given its direct ownership of AMIC. For AMIC, the impact of these unanticipated losses (net of reinsurance) resulted in a significant deterioration in surplus, and notably, risk-based capital (RBC) levels which, at the time, were likely to prompt state regulatory actions. The under review status was pending the parent, Citadel Re, potentially recapitalizing AMIC’s balance sheet and its plans to raise more capital from outside investors.

 

In August 2021, Citadel Re completed its recapitalization of AMIC with a $6.2 million cash injection, raising the RBC to above 300% to the satisfaction of AMIC’s regulator, the Department of Banking and Insurance of New Jersey. Although some of the uncertainties incorporated in the previous under review status had been addressed through the completion of the recapitalization, management’s planned external capital raising has not yet been completed and is likely to be delayed until 2023. The rating status also considers the improved profitability of AMIC’s existing core commercial auto business. However, the ultimate performance of this book of business and its associated loss reserves may require more time to flesh out, which also could have an impact on Citadel Re’s earnings and capitalization due to ownership and consolidation. AM Best has revised the implications of the under review status to developing from negative for both AMIC and Citadel Re. The developing implications reflect AM Best’s need to see how these various trends play out.

 

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

Jieqiu Fan

Senior Financial Analyst

+1 908 439 2200, ext. 5372

jieqiu.fan@ambest.com

Daniel J. Ryan

Senior Director

+1 908 439 2200, ext. 5325

daniel.ryan@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 Lifestyle Local News

Church & Dwight webcasts presentation at the 2022 Barclays Global Consumer Staples Conference

EWING, N.J. — (BUSINESS WIRE) — Church & Dwight Co., Inc. (NYSE: CHD) will present at the 2022 Barclays Global Consumer Staples Conference on Tuesday, September 6, 2022 at 12:45 p.m. ET. A link to the broadcast will be provided through the Investors section of Church & Dwight’s website at http://investor.churchdwight.com/investors/news-events.

Church & Dwight Co., Inc. manufactures and markets a wide range of personal care, household and specialty products under the ARM & HAMMER brand name and other well-known trademarks.

 

Church & Dwight Co., Inc. founded in 1846, is the leading U.S. producer of sodium bicarbonate, popularly known as baking soda. The Company manufactures and markets a wide range of personal care, household, and specialty products under recognized brand names such as ARM & HAMMER®, TROJAN®, OXICLEAN®, SPINBRUSH®, FIRST RESPONSE®, NAIR®, ORAJEL®, XTRA®, L’IL CRITTERS® and VITAFUSION®, BATISTE®, WATERPIK®, FLAWLESS®, ZICAM® and THERABREATH®. These fourteen key brands represent approximately 80% of the Company’s products sales. For more information, visit the Company’s website.

 

Contacts

Rick Dierker

609-806-1900

Categories
Business

AM Best places credit ratings of LIA Holdings Limited’s subsidiaries under review with negative implications

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best has placed under review with negative implications the Financial Strength Ratings of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Lombard International Life Assurance Company (Philadelphia, PA), Lombard International Life Assurance Company of New York (New York, NY), Lombard International Life Assurance Company (Bermuda) Ltd. (Bermuda) and Lombard International Life Ltd. (Bermuda).

These Credit Rating (ratings) were placed under review with negative implications following the announcement by Lombard International Group that it has entered into a definitive agreement to sell its U.S.- and Bermuda-based businesses to BroadRiver Asset Management and its affiliated entities. The negative implications are due to the uncertainty regarding BroadRiver Asset Management’s intentions and capitalization plans for the entities being acquired. These ratings will remain under review until the transaction closes, all customary regulatory approvals are received and AM Best evaluates BroadRiver Asset Management’s role in these entities.

 

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

Brian Keleher
Financial Analyst
+1 908 439 2200, ext. 5586
brian.keleher@ambest.com

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

Edward Kohlberg
Director
+1 908 439 2200, ext. 5664
edward.kohlberg@ambest.com

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

Categories
Business

AM Best revises outlooks to positive for Antilles Insurance Company

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance—AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Antilles Insurance Company (Antilles) (San Juan, PR).

These Credit Ratings (ratings) reflect Antilles’ balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

 

The outlook revisions to positive are based on AM Best’s expectation of Antilles’ continued favorable underwriting and operating performance over the intermediate term, despite modest volatility from weather-related events, while maintaining its strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR). Antilles’ strategic initiatives and favorable pricing environment have resulted in underwriting performance metrics that have outperformed its peer group over the past five years despite its elevated expense ratio, which is largely driven by commission expense. The improved performance in recent years has resulted in considerable policyholder surplus gains over the period.

 

Antilles’ business profile is limited due to its geographic concentration in Puerto Rico, which exposes its results to weather-related events and regulatory challenges. However, the company’s market position is supported by its management team’s extensive domestic market expertise. The company also benefits from an appropriate level of ERM, including a developed risk management framework and comprehensive reinsurance program.

 

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

Janet Hernandez
Senior Financial Analyst
+1 908 439 2200, ext. 5767
janet.hernandez@ambest.com

Joseph Burtone
Director
+1 908 439 2200, ext. 5125
joseph.burtone@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 Lifestyle Science

MHS Lift launches MHS Integrated Solutions

New West Coast office enhances company’s national presence for warehouse optimization and automation services

 

PENNSAUKEN, N.J. — (BUSINESS WIRE) — MHS Lift, Inc., a leading provider of warehousing and distribution solutions across the U.S. and Canada, has announced the launch of “MHS Integrated Solutions,” a full-service automation and optimization integrator.

The company’s warehouse optimization engineers analyze businesses’ operations to map out the best use of their space, considering not just the square footage of space, but the cubic footage. This approach helps companies increase their storage capacity so they can handle more product and process more orders, allowing them to get the most use of their limited and costly warehouse real estate. Warehouse services are available to all 50 states and Canada.

 

Additionally, the company’s newly-opened Costa Mesa, Calif. office will support in-person consultative services for the West Coast.

 

“Launching MHS Integrated Solutions along with our new West Coast location allows us to meet the growing optimization needs of businesses and support a new customer base,” said Andy Levin, President and Co-Owner, MHS Lift. “Because warehouse real estate costs are at an all-time high, investing in optimization solutions is more important now than ever before.”

 

MHS Integrated Solutions’ optimization process includes: facility utilization study, product mix analysis, pick and operational efficiency study, CAD layout and facility design and RFQ and specification development. The MHS Integrated Solutions team designs automated warehouses that incorporate robotic palletizing and depalletizing, automatic trailer loading and unloading, pick/pack/ship systems, autonomous guided vehicles, Automated Storage and Retrieval systems and more.

 

“For over 52 years, our company has developed a solid reputation of delivering quality products and services, and providing customers with exceptional value and exceeding expectations. We’re excited to expand our reach and help businesses across the country manage costs and increase efficiencies,” said Brett Levin, Vice President and Co-Owner, MHS Lift.

 

MHS Lift provides companies of all sizes and industries – from local businesses to Fortune 100 companies – with automation and warehouse services to enhance productivity and efficiency. Throughout its history, the company has grown from a New Jersey-based equipment dealer to a comprehensive material handling system design and integration house with successful implementations across North America.

 

For more information, visit www.MHSLift.com.

About MHS Lift

MHS Lift is a leading provider of warehousing and distribution solutions to increase productivity and operational efficiency. MHS Lift provides warehouse optimization, fleet management, new and used forklifts, aerial equipment, personnel carriers, rental and parts and maintenance. Its diverse client base includes food, manufacturing and retail, ranging from family-owned businesses to Fortune 100 companies. To meet its growing customer base, the company has office locations in New Jersey, Pennsylvania, Delaware, Tennessee and California. For more information, visit www.MHSLift.com.

Contacts

Pam Boyd
856-840-4090