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Thursday, April 13, 2023

Perry torches Biden admin over EV pocket punch: 'This is an EPA run amok'

 As the Biden administration pushes along legislation supporting its green energy agenda, the former energy secretary under President Trump torched the new set of rules as an attack on the oil industry and taxpayers.


"This is ill-thought-out. This is an EPA run amok. This is the continual genuflecting at the altar of the environmental gods that this administration does without giving a tinker's damn about what it's going to cost the American public," Rick Perry told FOX Business’ Larry Kudlow on Wednesday.

Perry’s comments came on the same day that the Biden White House announced aggressive regulations for tailpipe emissions as part of its sweeping climate agenda and efforts to push Americans to buy electric vehicles (EVs).

The tailpipe emissions regulations will impact car model years 2027 through 2032 and the new rules require car manufacturers to guarantee a 56% greenhouse gas emissions reduction in 2032 vehicles compared to 2026 models, according to the Environmental Protection Agency.

When looking at a recent AP-NORC poll, however, nearly half of Americans surveyed were "not likely" to consider buying an EV, with only 19% likely and 22% somewhat likely.

The former energy secretary ripped the regulations, criticizing the Biden administration for relying "upon China and using slave labor" rather than expanding domestic infrastructure capabilities.

"I don't have a problem with electric cars. We're going to build a substantial amount of them at Tesla in Austin, Texas, but the market ought to decide that. The government shouldn't be out there saying: we're going to strangle the fossil fuel industry," Perry clarified. "And don't get confused, that's what this is. This is a continual attack on the fossil fuel industry in this country."

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"Don't come up with a solution until you have an infrastructure to be able to take care of your solution," he continued. "That would be my advice to the Biden administration. But they don't seem to listen to many people."

The biggest issue facing Biden’s push to an EV-only America could be a lack of charging stations or a sufficient supply chain to build more, the political leader argued.

"When you look at what this is costing Americans when you look at what inflation is doing, when you look at this absolute attack on fossil fuels and the result... basically, we're going to just give a death sentence to a lot of people around the world because we're not going to give them the opportunity to have an electron of power anywhere," Perry said.

The ex-energy secretary’s advice to U.S. drivers and car dealers is to take "really good care of your car" now, and "keep it a long, long time."

"Again, the genuflecting at the altar of the environmental gods is costing Americans a huge amount of money. And I would suggest to you they don't want it. They want to do their part to take care of the environment. One of the ways you do that is by increasing the amount of fuel, being able to use those efficient, clean-burning natural gas that we have in the United States," Perry said.

The Biden administration has insisted that the EV push invests in American jobs and its economy.

"[Biden’s] Investing in America agenda is expanding domestic manufacturing and accelerating adoption of zero-emission vehicles," according to a White House statement on Wednesday. "This is bringing good-paying jobs back home and putting the United States on a bold path to out-compete China in securing the jobs and investments of the future."

https://www.foxbusiness.com/energy/former-energy-sec-torches-biden-admin-ev-epa

FDA Accepts Application for Merck’s KEYTRUDA Plus Chemo as First-Line in Gastric Cancer

 Merck (NYSE: MRK), known as MSD outside of the United States and Canada, today announced the U.S. Food and Drug Administration (FDA) has accepted for review a new supplemental Biologics License Application (sBLA) seeking approval for KEYTRUDA, Merck’s anti-PD-1 therapy, in combination with fluoropyrimidine- and platinum-containing chemotherapy, for the first-line treatment of patients with locally advanced unresectable or metastatic gastric or gastroesophageal junction (GEJ) adenocarcinoma. The sBLA is based on data from the KEYNOTE-859 trial, in which KEYTRUDA plus chemotherapy demonstrated a statistically significant improvement in overall survival (OS) versus chemotherapy alone, regardless of PD-L1 expression, in patients who were human epidermal growth factor receptor 2 (HER2) negative. The FDA has set a Prescription Drug User Fee Act (PDUFA), or target action, date of December 16, 2023.

https://finance.yahoo.com/news/fda-accepts-application-merck-keytruda-104500938.html

Biosynex Extends Tender Offer for the shares of Chembio

 Biosynex SA (“Biosynex”) (EPA: ALBIO), a French market leader specializing in the design and distribution of rapid tests, today announced that Project Merci Merger Sub, Inc. (“Purchaser”), a Nevada corporation and its wholly-owned indirect subsidiary, has extended the expiration time for the previously announced tender offer to purchase all of the issued and outstanding shares of common stock (the “Shares”) of Chembio Diagnostics, Inc. (Nasdaq: CEMI) (“Chembio”) at a price of $0.45 per Share, net to the seller in cash, without interest and subject to any required tax withholding, until 6:00 p.m., New York City time on April 26, 2023, unless further extended. The tender offer was previously scheduled to expire at 6:00 p.m., New York City time, on April 12, 2023. All other terms and conditions of the tender offer remain unchanged.

https://finance.yahoo.com/news/biosynex-extends-tender-offer-shares-110000053.html

Merck upped to Buy from Neutral by Citi

 Target to $130 from $105

https://finviz.com/quote.ashx?t=MRK&ty=c&ta=1&p=d

Tiziana Life Sciences Plans To Develop Multiple Sclerosis Hopeful For Long COVID

 Tiziana Life Sciences Ltd (NASDAQ: TLSA) plans to investigate intranasal foralumab for Long COVID.

What Happened: The work is supported by foralumab's well-established role in de-activating microglia cells, a key component in this disease's pathogenesis.

"We anticipate entering into a Phase 2a placebo-controlled clinical trial upon successful feedback from the FDA", commented Matthew Davis, Chief Medical Officer of Tiziana.

"The use of PET Scans will allow us to determine if intranasal foralumab will decrease activated microglia in patients with Long COVID after three months of administration," he added.

The company plans to file an IND in 4Q 2023.

Why It Is Important: The estimated over 9 million people in the U.S. with Long COVID will cost the healthcare system a projected $2.6 trillion.

The company said the research using intranasal foralumab in patients with non-active Secondary Progressive Multiple Sclerosis (SPMS), patients with COVID-19, and healthy volunteers showed a tolerogenic immune response induction by stimulating T regulatory cells while dampening CD3+ T effector function.

In short, intranasal foralumab modulates activated microglia while returning effector T cells to a naïve state.

https://finance.yahoo.com/news/exclusive-tiziana-life-sciences-plans-123011183.html

Walgreens and Prothena Partner to Increase Access and Enrollment in Alzheimer’s Trial

 Walgreens and Prothena today announced a collaboration to accelerate patient identification and recruitment for Prothena’s ongoing ASCENT-2 multiple ascending dose clinical trial evaluating the safety and tolerability of PRX012, a potential best-in-class anti-amyloid beta antibody under development for the treatment of Alzheimer’s disease. As part of the collaboration, Walgreens will leverage its national footprint, portfolio of industry-leading healthcare companies and compliance framework to match patient populations to this Prothena clinical trial for PRX012, which has been granted Fast Track designation by the U.S. Food and Drug Administration.

https://finance.yahoo.com/news/walgreens-prothena-partner-increase-access-120000470.html

Novo Nordisk boosts full-year profit and sales outlook on weight-loss drug demand

 Novo Nordisk (NOVO-B.KO) said it's increased its forecast for full-year sales and operating profit at constant exchange rates. The Danish insulin maker said in the first quarter, at constant exchange rates, its operating profit rose 28% on sales growth of 25%. Thanks mostly to prescription trends for weight-loss drug Wegovvy, Novo Nordisk now expects operating profit growth between 28% and 34% on sales growth between 24% and 30%, vs. its earlier view of 13% to 19% growth in both operating profit and sales for the year. Earlier, Credit Suisse had upgraded the stock, citing Ozempic growth acceleration and Wegovy re-launch.

https://www.morningstar.com/news/marketwatch/20230413312/novo-nordisk-boosts-full-year-profit-and-sales-outlook-on-weight-loss-drug-demand