Facebook reveals its data-sharing VIPs

Facebook has revealed which businesses it gave special rights to access users’ data after it had shut others out.

It listed the companies as part of a lengthy response to US politicians’ questions about its practices, which it published at the end of last week.

It said 61 companies had been given a temporary exemption to a block on apps accessing details about users’ friends.

And it identified a further 52 it had authorised to tap its data to “recreate Facebook-like experiences”.

The social network had faced criticism last month from some US lawmakers after it emerged several Chinese companies – including Huawei – had been included in the latter list, despite the fact that Facebook had not sought explicit consent from its users to do so.

Mark Zuckerberg’s company has been under pressure to disclose more details about its data-sharing habits in light of the Cambridge Analytica scandal, which involved a UK-based political consultancy obtaining personal details about Facebook users in breach of the platform’s rules.

Details of the latest revelations were first published by the Wall Street Journal on Sunday.

Special privileges

Facebook originally allowed third-party apps to access wide-ranging data about the friends of users who had signed up.

But following a critical review of the practice by the Irish data protection commissioner, it announced that access would be blocked from 30 April 2015.

It has now disclosed that a San Francisco-based company specialising in software for visually impaired users – called Serotek – was given an extra eight months access.

In addition, it said, 60 other companies had been given shorter extensions to the deadline.

They included:

• the dating service Hinge
• Russian internet giant Mail.ru
• sportswear firm Nike
• car manufacturer Nissan
• casino-type game developer Playtika
• music streaming service Spotify
• courier company UPS

‘Reviewed and approved’

As part of a separate scheme, Facebook allowed certain hardware and software companies to access its members’ personal details in order to build their own “versions of Facebook or Facebook features”.

Some of these “partnerships” are still active despite claims that they might breach privacy commitments made by Facebook to US watchdogs and the public.

Companies on this list that had not previously been named but no longer have such extensive access include:

• Dell
• Huawei
• Kodak
• LG
• O2
• Orange
• Virgin Mobile
• Warner Bros

In addition, Facebook said that it continued to provide access to its data to 14 companies.

Among those that had not earlier been identified are:

• Alibaba
• Nokia
• Vodafone
• Yahoo
• Zing Mobile

Facebook said its partnerships and engineering teams had reviewed and approved all the data-sharing agreements and had found no evidence of abuse.

The technology company also provided an update on its efforts to identify other Cambridge-Analytica-like situations, in which data about its users had been obtained “through improper means”.

It said it had suspended about 200 apps to date, relating to five developers.

However, it added that many of the apps involved had been described as “tests”, and never released to the public.

In addition, it said a further 14 apps linked to the Canadian data analytics company AggregateIQ (AIQ) had been suspended pending further investigations.

https://bbc.in/2KDGuFw

Merit Medical competitor encountered manufacturing issue, says Piper

Piper Jaffray analyst Matt O’Brien raised his price target for Merit Medical Systems (MMSI) to $58 from $52 and continues to recommend purchase of the shares after hosting investor meetings with management. The biggest piece of new information was that one of the company’s largest competitors, Terumo (TRUMY), has encountered a manufacturing issue that could lead to millions in incremental revenue in the second half of 2018 for Merit, O’Brien tells investors in a research note. Additionally, the fears that operating margin expansion at the company are at risk with a new CFO are overstated and management is fully committed to improvements, the analyst adds. The analyst calls Merit Medical his favorite name in mid-cap med tech and keeps an Overweight rating on the name.

https://bit.ly/2lKTVsG

Marinus started at buy by Cantor

Marinus Pharmaceuticals initiated with an Overweight at Cantor Fitzgerald. Cantor Fitzgerald analyst Elemer Piros started Marinus Pharmaceuticals with an Overweight rating and $19 price target. The analyst views the stock’s risk/reward as compelling into upcoming data catalysts for ganaxolone, a positive allosteric modulator of GABAA receptor.

https://bit.ly/2IOUniM

Genentech: Combo cuts breast cancer worsening in Phase 3

Genentech, a member of the Roche Group, announced that the Phase III IMpassion130 study met its co-primary endpoint of progression free survival. Results demonstrated that the combination of TECENTRIQ plus chemotherapy, as an initial treatment, significantly reduced the risk of disease worsening or death in people with metastatic or unresectable locally advanced triple negative breast cancer. Overall survival is encouraging in the PD-L1 positive population at this interim analysis, and follow up will continue until the next planned analysis. Safety in the TECENTRIQ plus nab-paclitaxel arm appeared consistent with the known safety profiles of the individual medicines, and no new safety signals were identified with the combination. Results will be presented at an upcoming medical meeting and will be submitted to global health authorities, including the U.S. Food and Drug Administration and European Medicines Agency. This is the third positive Phase III study that includes TECENTRIQ and nab-paclitaxel as part of a treatment regimen. Currently, Genentech has seven ongoing Phase III studies investigating TECENTRIQ in TNBC.

https://bit.ly/2Ni0xep

Sanofi to open global R&D operations hub in Chengdu, China

Sanofi is launching a Global R&D Operations Hub with a specialized focus on digitalization and big data analysis in Chengdu, Sichuan province, China. The new R&D operations hub confirms China as the third pillar of Sanofi Global Clinical Sciences and Operations, joining facilities in France and the United States. With an investment of EUR66M, the Hub will support the clinical research and development of Sanofi’s innovative drugs by focusing on the management of global multi-center clinical trials data and files. Bringing together global data and analysis, the Hub will accelerate the availability of trial results, from Phase I to Phase IV. The Hub will take advantage of local talents to further strengthen Sanofi’s digital capabilities. The Chengdu Hub will target diseases that affect millions of people across our therapeutic areas: diabetes and cardiovascular diseases, vaccines, oncology, immunology and inflammation, rare diseases, multiple sclerosis and neurology. It will leverage global cutting-edge biological technology for polypeptides, gene therapy, monoclonal antibodies and multi-specific antibodies. The Hub plans to recruit 300 local pharmaceutical research and development professionals by 2020.

https://bit.ly/2lP6MtC

Alkermes says FDA OKs schizpphrenia initiation treatment

Alkermes announced that the U.S. FDA has approved ARISTADA INITIO for the initiation of ARISTADA, a long-acting injectable atypical antipsychotic for the treatment of schizophrenia in adults. For the first time, ARISTADA INITIO, in combination with a single 30 mg dose of oral aripiprazole, provides physicians with an alternative regimen to initiate patients onto any dose of ARISTADA on day one. ARISTADA INITIO is expected to be available in mid-July. “The approval of ARISTADA INITIO makes ARISTADA the first and only long-acting atypical antipsychotic that can be initiated on day one, representing an important addition to the treatment paradigm for the complex illness of schizophrenia,” said David Walling, Ph.D., CEO and Principal Investigator of the Collaborative Neuroscience Network. “For physicians and caregivers alike, the ARISTADA INITIO regimen provides a level of confidence that patients can walk out the door with up to two months of coverage with a proven medication in their system. This supports continuity of care for patients and allows the care team to focus their efforts on other aspects of the treatment paradigm that contribute to long-term positive outcomes.”

https://bit.ly/2tXc5Lw

Big Investor Opposes Rite Aid’s Albertsons Deal

As Rite Aid executives campaign to win over skeptical shareholders for their merger with grocery store chain Albertsons, the drugstore chain Wednesday reported deteriorating retail pharmacy sales in its fiscal first quarter.

Rite Aid reported fiscal first quarter profits of $214 million, or 20 cents per share thanks to the sale of more than 200 stores to Walgreens Boots Alliance during the period. Rite Aid, however, reported a net loss on continuing operations of $41.7 million of the period ended June 2. Revenues were essentially flat at $5.4 billion compared to the year ago quarter as sales in Rite Aid’s retail pharmacy segment fell during the 13-week quarter.

Rite Aid’s first quarter earnings report came on a day when its proposed merger with Albertsons was dealt a blow by a large shareholder. Highfields Capital Management, which holds 4.4% of Rite Aid’s outstanding shares said it will vote against the merger  with Albertsons. A vote is scheduled for Aug. 9.

Before shareholders is a $24 billion merger with grocery store giant Albertsons announced in February that would result in Rite Aid shareholders owning about 30% of the combined new company. The combination of Rite Aid, which operates RediClinic, and Albertsons would create a company with 319 health clinics and 4,345 pharmacies after the merger closes.

Some investors have said they are upset that senior executives will be paid retention bonuses even if the deal falls through. Others don’t like that Rite Aid isn’t getting a higher price, especially as pharmacy benefit managers are suddenly an acquisition target and shareholders see value in Rite Aid’s PBM, EnvisionRxOptions, which has been growing rapidly.

“In Highfields’ estimation, the proposed transaction is in the best interests of Albertsons and Rite Aid management, but not Rite Aid shareholders,” the Boston-based investment management firm said in a press release issued Wednesday.

Meanwhile, Rite Aid management is fighting back against opponents. In a letter to shareholders earlier this week, Rite Aid included supporting quotes from analysts and media clippings pointing out the potential threat of online retailer Amazon as well as a warning from one firm highlighted in bold that they “do not expect any other bidders” for Rite Aid.

During a conference call Wednesday afternoon, Rite Aid CEO John Standley said the retail pharmacy segment is improving and the merger with Albertsons will “create a truly differentiated leader in food, health and wellness.”

“This combination will enhance our scale and density to better compete in existing markets, give us access to new markets, significantly improve our omni-channel capabilities and create the opportunity to achieve substantial cost synergies and revenue growth, all of which will strengthen our financial profile and position us to deliver compelling long-term value for customers and shareholders,” Standley said on the 50-minute earnings call.

With the transfer of more than 1,900 stores to Walgreens Boots Alliance completed, Rite Aid executives have said they can now focus on the merger with Albertsons and growing its businesses. In particular, Rite Aid said it will continue to convert its drugstores to “wellness stores,” which have expanded clinical pharmacy services, health and wellness products.

On Wednesday, Walgreens reported a first quarter “after-tax gain of approximately $268.6 million relating to the sale of 281 stores to Walgreens, which completed the sale of stores and related assets to WBA.”

“As a result of the proceeds received from the store sales, Rite Aid’s debt, net of cash, was $3.0 billion as of June 2, 2018,” Rite Aid said in a statement.

https://bit.ly/2tTL1Nd