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Monday, December 14, 2020

Amazon won’t comply with California subpoenas on COVID-19 safety: AG

 Amazon has yet to let the state know how many of the company’s workers have been infected by or died from COVID-19, despite subpoenas filed months ago, California Attorney General Xavier Becerra said in a petition to the Sacramento County Superior Court on Monday, Dec. 14.

The company also has not provided information about how it’s trying to prevent the spread of the coronavirus, including with regard to sick leave policies and cleaning procedures, Becerra said. He is asking the court to order Amazon to comply with the state’s subpoenas and provide that information.

The petition comes months into the state’s investigation into Amazon’s workplace safety practices. It also comes two months after Cal-OSHA levied $1,870 in fines on two Amazon warehouses in Southern California for failing to provide sufficient safety training for employees. The company is appealing those fines.

“Amazon has made billions during this pandemic relying on the labor of essential workers. Their workers get the job done while putting themselves at risk,” Becerra said in his office’s press release announcing the petition. “It’s critical to know if these workers are receiving the protections on the job that they are entitled to under the law.”

Although the company has said its employees test positive for COVID-19 at a lower rate than the general population, Amazon has been under fire from its workers and advocates, who say the company’s data is misleading. The company’s communication about workplace exposures has also been confusing, some workers told The Fresno Bee last week.

In the petition, Becerra said he sent a letter to Amazon in May, demanding information on the company’s COVID-19 case counts and prevention protocols. While he can’t give any specifics, his office received information that “merits looking into” about Amazon’s protocols and practices, Becerra said in a press conference.

After Amazon gave an inadequate and incomplete response, the state filed a subpoena on Aug. 19, Becerra said.

In October, Becerra’s office narrowed its subpoena to ask for case and death counts for only seven facilities, including workplaces in Fresno, Tracy and Stockton. But the company still has yet to comply with the subpoena, Becerra said.

Becerra said Amazon’s failure to obey the subpoena has prevented the state from further investigating the company’s procedures and their compliance with the state’s new COVID-19 workplace rules.

“We don’t have the time to drag our feet,” Becerra said. “If Amazon can deliver in next day an 85-inch TV, it should be able to deliver to the Department of Justice the information we requested four months ago.”

In a statement, Amazon said it’s been working cooperatively with the Attorney General’s office.

“The bottom line is that we’re a leader in providing COVID-19 safety measures for our employees – we’ve invested billions of dollars in equipment and technology, including building on-site testing for employees and providing personal protective equipment. We encourage anyone to compare our speed and actions in this area to any other major employer,” the company said in its statement.

https://www.sacbee.com/news/politics-government/capitol-alert/article247835060.html

Astrazeneca rescues biopharma's 2020 takeover scorecard

 While this weekend’s deal between Astrazeneca and Alexion shows that the pandemic has not stopped M&A, the size and number of deals struck this year is significantly down on 2019. Arguably this is an unfair comparison following 2019’s M&A bonanza, and at least biopharma companies have managed a couple of big-ticket acquisitions this year. The $39bn Astra is paying has saved 2020 from being the worst year for M&A since 2017, and is the only deal this year big enough to be considered a megamerger. Otherwise, there appears to be a marked preference for single-digit billion dollar deals. Partly this trend might be due to the resilience the biopharma sector has shown over the past year; asset prices have continued to grow, leaving Nasdaq on track to finish 2020 at historic highs. The amount of funding in the sector has also given smaller companies a better position to resist takeouts. With only weeks left in December, unless a raft of megadeals materialises 2020 will best be remembered as a year where deals continued to be struck despite the circumstances, albeit for some of the biggest premiums in recent history.

Biggest takeout deals of 2020
AcquirerTargetDateDeal statusValue ($bn)
AstrazenecaAlexion14 DecOpen39.0
GileadImmunomedics13 SepClosed21.0
Bristol-Myers SquibbMyokardia5 OctClosed13.1
Johnson & JohnsonMomenta19 AugClosed6.5
GileadForty Seven2 MarClosed4.9
BayerAsklepios26 OctClosed4.0
SanofiPrincipia16 AugClosed3.7
Merck & CoVelosbio5 NovOpen2.6
NestléAimmune31 AugClosed2.6
Novo NordiskCorvidia11 JunClosed2.1
Source: EvaluatePharma.

https://www.evaluate.com/vantage/articles/news/snippets/astrazeneca-rescues-biopharmas-2020-takeover-scorecard

Combined values ($bn)2016-20 combined takeout valuesMega-Mergers ($30bn+)Other Takeouts20162017201820192020050100150200250EvaluatePharma

No place like home for Covid-19 testing

 December has seen six of the ten deadliest days from Covid-19 in the US since the virus emerged. Consequently test developers and the FDA are increasing efforts to keep patients away from healthcare settings. Both the molecular Covid-19 tests given emergency use authorisation by the FDA this month are intended for home use, and one of these does not even require a prescription. Labcorp’s Pixel test is now on sale direct to the consumer for $119. The buyer self-collects a nasal swab at home and sends it to Labcorp for testing. Positive or invalid test results are delivered over the phone by a healthcare provider, while negative ones come via email or online portal. The other home-based test to receive EUA this month comes from Quest Diagnostics, and can detect nucleic acid from both the novel coronavirus and influenza A and B – very useful now flu season is in full swing.

EUAs granted to Covid-19 testsViral RNA testsAntibody testsOtherMar '20May '20Jul '20Sep '20Nov '20050100150200EUA = emergency use authorisation. Cumulative figures. Source: FDA.Saturday, May 9, 2020 Antibody tests: 10

Note: "Other" includes eight antigen tests, six home sampling kits, three saliva collection devices and two IL-6 tests. 

RedHill Biopharma added to NASDAQ Biotechnology Index

 

  • The specialty biopharmaceutical company, RedHill Biopharma (NASDAQ:RDHL) announces, the company will become a part of the NASDAQ Biotechnology Index with effect from December 21, 2020.
  • Ahead of the demand from the funds tracking the index, the stock is trading +7.7% higher in the pre-market trading.
  • The company primarily focused on gastrointestinal and infectious diseases has returned +33.6% in value for the year so far, compared to the +23.8% rise in the iShares NASDAQ Biotechnology Index Fund, which tracks the index.
  • https://seekingalpha.com/news/3644029-redhill-biopharma-added-to-nasdaq-biotechnology-index

Kezar Life Sciences selected for Nasdaq Biotechnology Index