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Tuesday, September 18, 2018

Pot stock Aurora says no agreement with Coca-Cola, but shares are rising anyway


  • “The Company does confirm that it engages in exploratory discussions with industry participants from time to time,” Aurora said in a press release.
  • The stock rallied 17 percent in Canadian trading Monday after a report said Coca-Cola is in talks with Aurora to develop weed-infused beverages.
Despite assurances from Canadian marijuana producer Aurora Cannabis that it does not have any formal agreement to partner with a beverage company, its stock rallied Tuesday after it said it talks with drink companies on occasion.
As of the latest reading, shares of Aurora were up 7 percent in Canadian trading.
“The Company does confirm that it engages in exploratory discussions with industry participants from time to time,” Aurora said in a press release. “At this time the Company confirms there is no agreement, understanding or arrangement with respect to any partnership with a beverage company.”
Tuesday’s move comes after the stock rallied 17 percent in Canadian trading Monday after Canadian news service BNN Bloomberg reported Coca-Cola is in talks with Aurora to develop weed-infused beverages.
Coke issued the following statement Monday following the report:
“We have no interest in marijuana or cannabis. Along with many others in the beverage industry, we are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world. The space is evolving quickly. No decisions have been made at this time.”

FDA: Immediate-Release Opioids Now Under Risk Evaluation & Mediation Plan


The FDA said Tuesday that it is broadening its Risk Evaluation and Mitigation Strategy (REMS) for opioids to include immediate-release agents prescribed for outpatients, and will cover all “providers who are involved in the management of patients with pain” — not just those writing prescriptions.
But although the agency is requiring opioid manufacturers to create new training modules for nonprescribers, and that cover immediate-release products, the training will remain voluntary for professionals.
The broadened REMS will also apply to extended-release and long-acting (ER/LA) opioids for outpatient use, for which the FDA first imposed a REMS in 2012. The agency noted that Tuesday’s action raises the number of individual products subject to the opioid REMS from 62 to 347.
“Our aim is to make sure the medical community can take advantage of the available education on pain management and safe use of opioid analgesic products,” said FDA Commissioner Scott Gottlieb, MD, in announcing the changes.
“At the same time, we’re also taking new steps to advance the development of evidence-based, indication-specific guidelines to help further guide appropriate prescribing of opioids. The goal is that these guidelines will provide evidence-based information on the proper number of opioid doses that should be dispensed for different medical conditions for which these drugs may be indicated. The aim is to reduce overall dispensing as a way to further reduce exposure to these drugs,” Gottlieb added. He did not give a timeline for when these more specific guidelines would be released.
The FDA noted that the new training — components of which were outlined in a “blueprint” document — must be made available to nurses and pharmacists, for example, in addition to those authorized to prescribe opioids. “The new REMS also requires that the education cover broader information about appropriate pain management, including alternatives to opioids for the treatment of pain. The agency is also approving new product labeling containing information about the health care provider education available through the new REMS,” the agency said.
That labeling about education will now appear as part of the boxed warnings and other sections on “warnings and precautions.”
Previously, the opioid REMS ordered manufacturers of ER/LA opioids to develop training materials for prescribers, with the aim of minimizing risks of overuse and abuse. However, the FDA stopped short of requiring prescribers to undergo special training. REMS requirements for many other types of medications do include mandatory training, and the agency said opioids could eventually be added to that list.
“The FDA’s Opioid Policy Steering Committee continues to consider whether there are circumstances when the FDA should require some form of mandatory education for health care providers and how the agency would pursue such a goal,” according to the Tuesday announcement.

Few data on potential grounds for concern on probiotics


The mass marketing of unregulated probiotics for general human health is coming under fire. Despite some benefit of selected strains in defined gastrointestinal contexts such as post-infectious diarrhea, post-colectomy pouchitis, and remission maintenance in ulcerative colitis, concerns are growing about the sale of untested consumer formulations. There are claims of unsubstantiated benefits for healthy people but make no mention of potential risks and offer no guarantee of potency and purity.
“Consumers and physicians should not assume that the label on probiotic supplements provides adequate information to determine if consuming the live microorganism is worth the risk,” wrote Pieter A. Cohen, MD, of Harvard Medical School in Boston, in a viewpoint article in JAMA Internal Medicine.
He pointed out that advertised indications notwithstanding, no large, long-term clinical trials have proven that probiotics offer clinical benefits for people who are already healthy. Yet U.S. manufacturers are free to promote supplements as doing just that: “There are few restrictions on structure and/or function claims, such as ‘boosts digestive health’ or ‘supports the immune system’ on supplement labels, and information about potential adverse effects is not required.”
Consumers may thus not be aware of the possible risks of ingesting live bacteria, including opportunistic infections, allergic reactions, and the introduction of new genes into the microbiome that might confer antibiotic resistance, he said.
Asked for his perspective, Jason K. Hou, MD, of Baylor College of Medicine in Houston, told MedPage Today that the piece made some interesting points about the risk of probiotics — particularly the potential for gene transfer and antibiotic resistance. “There’s not a lot of clinical evidence currently to strongly advocate for their use, but neither are there a lot of data showing that probiotics cause adverse clinical events.” He added that Cohen’s article highlights the need to monitor the effects of probiotics as their use becomes more widespread.
‘Creative Advertising and Hype’
In the article, Cohen noted that with small studies used to put a favorable spin on probiotics, “creative advertising and hype” around the power of the gut microbiome are driving enthusiasm for commercial probiotics. For example, in the decade 2001-02 to 2011-12, consumption of probiotic supplements more than doubled in the United States. Consumption is highest among college-educated adults, with 3.5% reporting use of probiotic supplements within the past 30 days. In addition, in a recent Nielsen survey, 20% of respondents said probiotics are important for health.
Clinicians frequently prescribe them as well, with a 2016 report on 145 U.S. hospitals finding that 2.6% of inpatients had received probiotics during their hospitalizations.
In terms of safety, a 2018 review by Aïda Bafeta and colleagues found that information about harms in randomized controlled trials assessing probiotics, prebiotics, and synbiotics was often lacking or inadequate, leading the authors to state: “We cannot broadly conclude that that these interventions are safe without reporting safety data.”
And in a 2017 analysis of 14 Cochrane reviews on studies of probiotics for GI disorders, Elizabeth Parker and associates found that the majority reported insufficient evidence to confirm benefit. This analysis also highlighted problematic inconsistencies, with many studies failing to specify the strain(s) in the probiotic and most not specifying any follow-up beyond the initial intervention.
In the consumer setting, Cohen noted that many companies do not follow FDA-recommended best practices for manufacturing dietary supplements, and commonly fail to establish the strength, purity, and composition of the final products, with some found to contain contaminants and unlisted live microorganisms. A 2017 inspection of 655 supplement facilities found sanitation and other violations in more than half. In one worst-case example, the death of an 8-day-old premature infant from fulminant gastrointestinal mucormycosis was traced to fungal contamination from a mold in a probiotic supplement.
Cohen argued for a consistent regulatory framework to ensure safe marketing of all probiotic-type microorganisms: “High-quality microorganisms with a long track record of safety should be accurately labeled and readily available to consumers, and labels should only advertise health claims if robust clinical evidence has demonstrated efficacy.”
Such a framework would, however, require new laws, and Cohen said he held out small hope that Congress would take steps to regulate probiotics in the near future. The FDA recently released a draft guidance encouraging probiotic manufacturers to list the number of colony-forming units in the Supplement Facts labeling. But that is not enough, he said, praising the Canadian approach, which requires manufacturers to list the specific strain or strains and the number of live microorganisms per serving on every supplement bottle.
“The FDA should also revise its current good manufacturing practices for live microorganisms and include additional safety testing, such as identifying and eliminating potentially transferable antibiotic resistance genes, for all bacterial strains prior to marketing, as is currently required in Canada,” Cohen wrote. In the meantime inadequate regulation and poor compliance “remain substantial problems.”
Last Updated September 18, 2018
Cohen reported relationships with NSF International and Consumers Union.
Hou reported having no competing interests related to his comments.

Citron reiterates $60 AbbVie target, says lawsuit ‘least of the problems’


Citron Research just tweeted, “$abbv being sued today by California for price collusion. This the least of the problems. Wait until the government starts exploring the rapid and unjustifiable death rate from Humira tgt $60.” Shares of AbbVie are down 2.5% to $92.97 in afternoon trading.
https://thefly.com/landingPageNews.php?id=2792215

Nestle, Unilever, Coke make bids in $4 billion-plus Glaxo India sale


Nestle (NESN.S), Unilever (ULVR.L) (UNc.AS) and Coca-Cola (KO.N) are among bidders for GlaxoSmithKline’s (GSK.L) Indian Horlicks nutrition business, expected to fetch more than $4 billion, four people familiar with the matter said.
Initial bids were due on Monday and the three consumer goods giants are seen as frontrunners for a business that offers a significant footprint in a fast-growing emerging market.
Even though Indian shoppers have lately been pressured by a currency devaluation and goods and service tax, the country’s growing population and rising wealth make it attractive for companies trying to offset weak growth in Western markets. It was not clear which other companies were bidding, although Reckitt Benckiser (RB.L), a company eager to build up its consumer health operation, did not make an offer, two sources said.
GSK, Nestle, Reckitt and Unilever declined to comment. Officials at Coca-Cola were not immediately available.
Horlicks is a malt-based drink dating back to 1873, when two British-born men, James and William Horlick, founded a company in Chicago to manufacture it. It was taken to India by soldiers who had fought with the British Army in the First World War.
Sold as a bedtime drink in Britain, Horlicks has been developed into a much bigger brand by GSK in India. But the drugmaker started a review of that business and some smaller products, after buying Novartis (NOVN.S) out of their consumer healthcare joint venture for $13 billion in March.
GSK Chief Executive Emma Walmsley, who took over last year, is looking to sharpen the focus of what is one of the world’s more diversified pharmaceuticals companies.
The main asset on the block is GSK’s 72.5 percent stake in its Indian subsidiary GlaxoSmithKline Consumer Healthcare (GLSM.NS), which is famous for Horlicks but also makes products including the chocolate-flavored malt-based drink Boost. One source said Nestle was particularly well-suited to buy the business, as the world’s biggest packaged food company already owns rival malt drink Milo and has a big presence in India, which bodes well for synergies.
Nestle SA80.18
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  • ULVR.L
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Nestle has told GSK privately of its interest in Horlicks on several occasions over the years, people familiar with the matter told Reuters earlier this year.
For Coke, buying the Horlicks business would mark another multibillion-dollar acquisition, following a deal to buy Costa Coffee for $5.1 billion last month.
GSK is being advised by Morgan Stanley and Greenhill.
The company sold its much smaller UK Horlicks business to Aimia Foods earlier this year for an undisclosed amount.

WuXi AppTec files to list in Hong Kong 4 months after explosive Shanghai IPO


Since going public in Shanghai this May, WuXi AppTec has more than tripled its share price. It’s now looking to take the momentum to Hong Kong.

The powerhouse contract research organization has filed for an IPO, eyeing a massive offering that could fetch more than $1 billion, anonymous sources tell Bloomberg, on the heels of several big IPOs by Ascletis, BeiGene and Hua Medicine.
Unlike these biotechs, which Hong Kong’s new rules are meant to attract, WuXi has been generating a sizable revenue. It’s also been expanding its global operations, with subsidiary WuXi Biologics blueprinting several manufacturing sites in Shanghai, Shijiazhuang and Worcester, MA. WuXi Biologics is currently listed in Hong Kong, having raised $509 million last June.

This would mark the fourth IPO that founder Ge Li has orchestrated since he took WuXi AppTec private from the New York Stock Exchange in 2015 in a $3.3 billion deal, with help from Ally Bridge Group and Hillhouse Capital.
He’s doing this one with longtime colleague Edward Hu, who’s been by his side as COO, CFO and chief investment officer but was recently promoted to co-CEO — an understandable move considering the ambitious list of actions that WuXi is ready to spend on, spelled out in their application:
Expansion of capacity and capabilities across all business units globally, including seven projects in China, a bioanalytical lab in San Diego, a manufacturing plant in the US, and a Hong Kong-based R&D center
Acquisition of CRO and CMO/CDMO companies
Investing and incubating companies in biotech, healthcare IT, hospital, diagnostics, and tools and instruments
Developing cutting-edge technology such as AI-empowered drug discovery platform

J&J talc supplier inks 11th-hour settlement in Cal. mesothelioma case


Johnson & Johnson and its talc supplier Imerys have been on the losing side of costly jury decisions, and after weeks of testimony in a Los Angeles case, Imerys has decided to settle.
Right before the case went to the jury, Imerys struck a deal to settle its portion of the talc lawsuit, Bloomberg reports. J&J asked the court to grant a mistrial in response, but the judge allowed the trial to proceed, according to the news service. The court didn’t disclose the size of Imerys’ settlement.
In her lawsuit, 59-year-old school counselor Carolyn Weirick argued that J&J and Imerys supplied talc that contained asbestos that caused her mesothelioma, according to reports. She said she routinely used talc for more than 40 years.
The Imerys deal comes after a jury in St. Louis ordered J&J to pony up a staggering $4.69 billion in damages after a trial that consolidated the claims of 22 women and their families. J&J has said the award was improper and has pledged to appeal.

Before that, in April, a New Jersey jury ordered J&J and Imerys to pay $117 million over a retired banker’s mesothelioma claims. Imerys’ portion of the verdict was about $36 million. And in May, jurors in Los Angeles ordered J&J and other companies to pay $25.75 million in yet another mesothelioma case. The companies have pledged to appeal.
After the $36 million result against Imerys, the company said in a statement that while it “deeply sympathizes with those affected by all forms of cancer, this decision is inconsistent with a great deal of science establishing the safety of talc, including a recently published study of workers who mined and milled talc.” The company said it would appeal the result.
Imerys further said it follows FDA and other regulatory guidelines and “utilizes rigorous testing to ensure that Imerys talc meets the highest quality standards.” Imerys pledged to “continue to vigorously defend itself against such possible claims in the future.”

In all, J&J faced about 10,600 talc cases as of its most recent quarterly filing. The drugmaker noted that it has both won and lost certain cases, and for the cases it has lost, J&J “believes that it has strong grounds on appeal to overturn these verdicts.”